Select the Best Option with Confidence Using PrecisionTree
The PrecisionTree Microsoft Excel add-in helps address complex sequential decision models by visually mapping out, organizing, and analyzing decisions using decision trees . Decision trees are quantitative diagrams with nodes and branches representing different possible decision paths and chance events. This helps you analyze the value of all possible alternatives, so you can choose the best option with confidence.
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What we needed was a set of practical, comprehensive, broadly applicable tools... I think we have that now, and PrecisionTree is really key components in that set of tools.Actuarial Analyst, World Conservation Union
With the PrecisionTree Excel add-in, you can analyze and see the payoff and probability of each possible path through a decision tree. PrecisionTree functions may be added to any cell in a spreadsheet and can include arguments that are cell references and expressions - allowing great flexibility in defining decision models. PrecisionTree determines the best decision to make at each decision node and marks the branch for that decision TRUE. Once your decision tree is complete, PrecisionTree creates a full decision analysis statistics report on the best decision to make and its comparison with alternative decisions. PrecisionTree can create a Risk Profile graph that compares the payoffs and risk of different decision options. It displays probability and cumulative charts showing the probabilities of different outcomes and of an outcome less than or equal to a certain value.
- Works with Microsoft Excel Models
- Visually Map out Decisions
- See All Possible Paths and Chance Events
- Choose the Best Option with Confidence
- Communicate Decision Paths to Others
How PrecisionTree Is Used
PrecisionTree has a multitude of applications, including:
- Resource Management
- Portfolio Selection
- Real Options Analysis
- Exploration and Production
- Sensitivity Analysis
- Decision Modeling
- Sequential Decisions
- Quantitative Diagrams
- Bayesian Revision
- Cumulative Risk Profile Graphs
- 2-way Sensitivity Graph
- Policy Suggestion Reports
- Strategy Region Graphs
Customer Success Stories
Learn how PrecisionTree has helped analysts and executives improve decision making.
Explore examples and tutorials on how to make PrecisionTree work best for you.
Features To Meet Your Needs
Decision Tree MS Excel Add-in
PrecisionTree allows you to visually understand a decision, identify best options, and communicate results to others. You’ll see the payoff and probability of each possible path through a decision tree in Microsoft Excel.
100% Microsoft Excel Integration
With PrecisionTree, you never leave your spreadsheet, allowing you to work in a familiar environment, and get up to speed quickly.
Full Statistics Reports and Graphs
See results in risk profile graphs, 2-way sensitivity, tornado graphs, spider graphs, policy suggestion reports, and strategy-region graphs.
“Flip” one or more chance nodes to show probabilities calculated using Bayes’ Rule. This is valuable when the probabilities of a model are not available in a directly useful form. For example: You need to know the probability of an outcome occurring given the results of a particular test. The test’s accuracy may be known, but the only way to determine the probability you seek is to “reverse” a traditional decision tree in Microsoft Excel using Bayes Rule.
Included with The DecisionTools Suite
Included with The DecisionTools Suite
The DecisionTools Suite
The complete risk and decision analysis toolkit, including @RISK, PrecisionTree, TopRank, NeuralTools, StatTools, Evolver, RISKOptimizer.
Your software subscription has you fully covered.
- Free upgrades when new software versions are released
- Full access to Technical Support
Technical Support is available to help with installation, operational problems, or errors.
- Included with subscription
- Phone, web, or email
Leverage the power of PrecisionTree in your own custom application with Palisade Custom Development.