By Peter Coffee
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March 22, 1999
Review Excerpts
Often, when PC users see numbers, their first reaction is to open
a spreadsheet. Unfortunately, spreadsheets are best at static analysis
of exact numbers, while business problem solving calls for predictive
analysis of uncertain values.
Products such as Palisade Corp.'s RISKOptimizer
1.0 (see review) are therefore important
additions to the spreadsheet program that's on almost every business
PC, namely Microsoft Corp.'s Excel.
A limited knowledge of probability and statistics can lead to poor
approximations of uncertainty, such as assuming that a number is
well-represented by its average value when the probability curve
is actually far from symmetric. For example, a completion time is
much more likely to exceed than fall short of its budgeted value.
When properly used, products such as RISKOptimizer deter errors
of this kind.
Other time-series tools, such as Business Forecast Systems Inc.'s
Forecast Pro for Windows or other tools from SPSS Inc., have user
inertia working against them. Users often settle for the best results
they can get from their habitual tools, and so spreadsheet add-ins
such as RISKOptimizer have an advantage in their likelihood of being
used.
Related Article in the March 1999 PCWeek:
» Pair of Add-ins Extends Excel's Scope
For more information, contact:
Randy Heffernan
CEO
Palisade
Tel: +1 607-277-8000
Fax: +1 607-277-8001
rheffernan@palisade.com
130 East Seneca Street
Suite 505
Ithaca, NY 14850
800 432 RISK (US/Can)
+1 607 277 8000
+1 607 277 8001 fax
sales@palisade.com
+1 607 277 8000 x318
+54-1152528795 Argentina
+56-25813492 Chile
+507-8365675 Panamá
+52 55 5350 2852 México
+511-7086781 Perú
+57-15085187 Colombia
servicioalcliente@palisade.com
ventas@palisade.com
www.palisade-lta.com