LIVE UPDATE AMONG POPULAR FEATURES
25 June2004, Ithaca, NY - Palisade’s StatTools package is gaining popularity among academic institutions and the private sector alike. Introduced in late 2003, the statistics add-in for Excel is filling the need for a robust-yet-simple statistics analysis tool. Recent customers include The Hartford Financial Service Group, the Darden Graduate School of Business Administration at the University of Virginia, and Computer Sciences Raytheon.
“StatTools makes me a better analyst. I can provide more analysis in a shorter time than I could before,” says Richard Cotman of Computer Sciences Raytheon. “I find it easier to use than setting up an Excel analysis. Also, StatTools has the standard statistical tests already set up.”
One feature that customers comment on is StatTools’ ability to update the results of a statistical analysis automatically when the source data changes. According to Shawn Harahush, StatTools Product Manager: “The automatic update feature is a huge time-saver.” It is common in statistical analysis for source data to change, as with stock prices for example. The results and graphs based on that data are often key factors for decision-makers. “Not having to manually re-run analysis whenever there’s a change is a big advantage, especially for analysts working with real-time data,” says Harahush.
StatTools is distinct from other statistical software in larger ways as well. “The main difference between StatTools and many stand-alone statistics packages can be summed up in the 80/20 rule,” says Harahush. “80% of the users of most statistics software use 20% of the features. StatTools provides the most commonly used analyses while remaining accessible to the majority of users.”