Bucknell University Uses PrecisionTree
in Cable TV Rollout Decision
Bucknell University, a highly respected liberal arts college in central Pennsylvania, offers digital cable television service in all of its 1,700 residence rooms. Palisade’s PrecisionTree decision analysis tool was instrumental in Bucknell’s decision to build the network and deploy the service.
A decision analysis project, led by Dr. Keith Willoughby and Associate Dean Christopher Zappe, was initiated to identify the best cable television technology. The team used Palisade’s PrecisionTree software to model the possible options and the risks involved. Dr Willoughby adds, “PrecisionTree’s graphical representations were quite valuable in communicating our modeling efforts to others.”
» Read the full case study
» Read the full paper on the project
Introducing Palisade User Forum
Looking for ideas on how to incorporate Palisade tools in the classroom?
We have recently launched a new Academic Group in our online User Forums where professors and instructors can share information and ask questions to fellow instructors who use Palisade products.
@RISK and the DecisionTools Suite are integrated into coursework spanning across a wide variety of academic disciplines. This new Academic group is an opportunity for instructors to gather and discuss specific applications, example models and tips related to their area of teaching.
Simply register for the group in order to participate in discussion. Interested participants can email email@example.com to gain access.
Active since 2003, the Palisade User Forums host an archive of discussions from users over the past 8 years. All of the discussions are categorized by Palisade software tool and are searchable by keyword.
» Click here for the Palisade User Forums - INSTRUCTOR group
I use @RISK software from Palisade to do LDA
(Loss Distribution Approach) risk quantifications.
Integrated directly into Excel, it shows
modelling steps in a simple and transparent
manner. For these reasons, I consider it a very
educational tool in my teaching.
Professor Sophie Bederic , Université de Cergy-Pontoise (France)
Over 60,000 students use the DecisionTools Suite annually in their MBA and graduate level programs. In 2010, over 800 universities worldwide adopted the DecisionTools Suite. Professors in business, engineering, OR, and other fields keep their students on the cutting edge by teaching the latest analytical techniques from Palisade. Some major schools with programs and courses that standardized on the DecisionTools Suite last month include:
US and Canada:
||Appalachian State University
California State University, Fresno
East Carolina University
Texas Tech University
University of Arkansas
University of Huntsville
University of Illinois
University of Maryland
University of Texas at Dallas
University of Tulsa
University of Virginia
Utah State University
Washington State University
||Åbo Akademi University (Finland)
EBS Universität (Germany)
The College of Economy of the University of Coimbra (Portugal)
IAE-Business School (Argentina)
Instituto Superior Técnico (Portugal)
OrKestra- Deusto (Spain)
Queensland University of Technology (Australia)
Universidad de Santiago de Compostela (Spain)
Universität Bern (Switzerland)
Université de Cergy-Pontoise (France)
University of Adelaide (Australia)
Universidad Francisco Morroquin (Guatemala)
Universidad Iberoamericana A.C (Mexico)
University of New South Wales (Australia)
WHU - Otto Beisheim School of Managemen (Germany)
Palisade is happy to showcase professors who implement our tools into their teaching. For the month of February we would like to introduce you to Dr. Phil Rogers from the University of Houston.
Dr. Phil Rogers – University of Houston
Dr. Phil Rogers, Clinical Assistant Professor at the University of Houston’s C. T. Bauer College of Business, exposes hundreds of students to @RISK each year—in multiple courses and across two continents.
At the graduate level, Dr. Rogers uses @RISK in two MBA electives: Business Modeling for Competitive Advantage, and Managerial Decision Making. In the fall of 2011, Business Modeling and Decision Making will blend the two courses together and will be a required course in the Executive MBA program. Dr. Rogers also teaches an undergraduate course for Supply Chain Management majors called Spreadsheet Modeling for Business Applications where he introduces Palisade tools as well.
“@RISK enables problem solvers to deal with risk and uncertainty in a more thorough way than the traditional approach of considering a few scenarios,” Dr. Rogers says. “It is seamlessly integrated into Excel and is very user friendly and accessible to business students. The graphics are very appealing and useful and many types of sensitivity analysis are included. Students get real insight into what is driving the results of their models.”
The University of Houston also runs an MBA program in Beijing for Sinopec and CNPC, the two largest petrochemical companies in China. Professors from the University of Houston travel to Beijing and conduct three-credit courses in very intense, four-day sessions. When Dr. Rogers travels to China to teach the course Scientific Methods Applied to Decision Making in the Energy Industry he arranges for a temporary license of Palisade’s DecisionTools Suite. This year he was able to take advantage of the newly released DecisionTools Suite 5.7, which was translated into Chinese for the first time. “The Chinese language format made it much easier for me to teach @RISK, and for the students to use it,” said Dr. Rogers.
Dr. Rogers was first introduced to @RISK and the DecisionTools Suite when he adopted the text “Practical Management Science” by Winston and Albright to develop his courses.
In 2009, Dr. Rogers teamed up with Palisade to host an Academic Symposium at the University of Houston, exposing new professors and academics to Palisade’s offerings. In the spring of 2011, Dr. Rogers will host a live web cast for Palisade. Dr. Rogers is also featured in one of Palisade’s academic case studies.
“Dr. Rogers has been invaluable to Palisade over the years—a true champion in the academic arena for our products,” says Jaime Weisberg, Regional Sales Manager, Palisade.
» More about Dr. Rogers and Palisade tools in his classes
There are three easy ways to get the DecisionTools Suite for your students:
Course Licenses available from Palisade. These are economical, annually renewing bulk licenses for both
network lab and laptop installation.
» Learn more
Student Versions from Palisade. These are 12-month versions available for purchase individually by students through either the Palisade web site or the school store.
» Learn more
Textbook Editions available bundled with textbooks.
These are time- and model-limited licenses.
» Learn more
Get DecisionTools Suite 5.7 for your course by contacting:
Palisade Academic Sales
800-432-7475 / 607-277-8000
After a couple of years dealing with your
company, and years of dealing with many
other software vendors, I can say that your
service and support are outstanding.
Zeljko Bratic, Desktop Management Solution Analyst,
Kwantlen Polytechnic University
The DecisionTools Suite is a great way to present quantitative techniques in a straightforward, easy-to-understand way. Each month we feature an example or tip illustrating how students can gain “real world” benefits by implementing quantitative analysis.
Timing Market Entry
Excerpted from Decision Making Under Uncertainty with RISKOptimizer by Wayne Winston, published by Palisade
When a high-tech company is trying to determine whether to market a new product there is a great deal of uncertainty. Should we enter the market now, not knowing if growth in the market will be high or low? If we enter now, we get a larger market share than we would get by entering later. The downside is we may have a high share of a small market. If we wait a few years, we will know if market growth will be high or low, but we have missed out on several years of sales and will probably obtain a reduced market share due to our late entry. RISKOptimizer can be used to make these complex entry decisions. The following example explores some of the important issues involved in the decision to enter a market.
» Download the example spreadsheet and step-by-step instructions
The DecisionTools Suite is included in dozens of major textbooks, and is a key component of more titles every year. Authors use the DecisionTools Suite to illustrate key analytical concepts and build examples demonstrating the value of quantitative techniques in business, OR, and engineering.
Practical Management Science -
Spreadsheet Modeling and Applications
By Wayne Winston and Dr. Chris Albright
This text takes an active-learning approach, providing numerous examples and problems so students can practice extensively with a concept before moving on. Four types of problems -- skill-building, skill-extending, modeling, and cases are graded within sections and chapters to help instructors assign homework. Another important feature is the way that the text integrates modeling into all functional areas of business: finance, marketing, operations management using real examples and real data. Examples utilize @RISK, PrecisionTree, RISKOptimizer, and more. The text emphasizes modeling over algebraic formulations and memorization of particular models. Shell files are also provided so that instructors can give students as much or as little information as they need.
» Learn more from the publisher
» See a list of books bundled with Palisade software
Professors, PhD candidates, practitioners and others often use the DecisionTools Suite as part of a complex analysis to address important problems. These analyses are published in white papers. Each month we will feature a different academic white paper addressing a wide range of issues.
@RISK and BestFit Models Provide Insight on
Biological Control Impact on Monarch Butterflies.
R. L. Koch et al pub: Biological Invasion, 2006
A quantitative risk assessment Study from the University of Minnesota.
View the full paper
Professors using Palisade software share examples and teaching tips they've used in class in Palisade's Academic Webcast series. Register online at no charge.
Gambling, Money Management,
and Monte Carlo Simulation
Presented by Dr. Wayne Winston, Professor of Operations & Decision Technologies,Kelley School of Business at Indiana University
March 24, 2011, 1:00pm ET
Wayne Winston will demonstrate @RISK models that apply to various casino games such as roulette, keno, poker and craps. He will also explain the money management strategy (known as the Kelly Growth Criterion) adopted by the students profiled in the movie "21." (There is NO CHARGE for this webcast.)
» Register now
Using RISKOptimizer/Evolver in Determining
Optimal Swaps for Risk Mitigation
Presented by Dr. Roy Nersesian,
Professor at the Center for Energy Marine Transportation and Public Policy, Columbia University
March 30, 2011, 11:00am ET
Determining optimal levels of financial derivatives to mitigate risk oftentimes involve normal or lognormal distribution along with a standard deviation. In this free live webcast, Roy Nersesian proposes that simulating future prices can be done by examining historical daily or weekly price changes to obtain a histogram of absolute price changes. (There is NO CHARGE for this webcast.)
» Register now
» See complete Webcast schedule
|The Academic Global Leader in
Palisade is the world’s leading provider of risk and decision analysis software and solutions. Founded in 1984, its products @RISK and the DecisionTools Suite are used by over 95% of the Fortune 100, in nearly every industry around the world. Palisade is headquartered in New York State, and has offices in London, Sydney, Rio de Janeiro, and Tokyo.
What is The DecisionTools Suite?
The DecisionTools Suite is the world’s only integrated set of risk and decision analysis programs. The Suite includes @RISK for Monte Carlo simulation, PrecisionTree for decision trees, and TopRank for “what if” sensitivity analysis. In addition, DecisionTools Suite comes with StatTools for statistical analysis and forecasting, NeuralTools for predictive neural networks, and Evolver and RISKOptimizer for optimization. All programs work together seamlessly, and all integrate completely with Microsoft Excel for ease of use and maximum flexibility.
The Suite is offered in three affordable and flexible licensing options for those in academia: Student Versions, Course Licenses and Full Academic Versions.
» Schools using Palisade software
» Textbooks using Palisade software
» Bucknell University Uses
in Cable TV
» Introducing Palisade
User Forum for
» Recent School Adoptions
» Licensing Options
Dr. Phil Rogers
University of Houston
» Teaching Tips &
Timing Market Entry
» Textbook of the Month
Science - Spreadsheet
Modeling and Applications
» Featured White Paper
@RISK and BestFit Models
Provide Insight on
Control Impact on
» Academic Live Webcast
Evolver in Determining
Optimal Swaps for Risk
» About Palisade and the
Click to chat live with
a sales representative
world case studies about
innovative and interesting approaches to risk and
decision analysis. Also,
ever-popular workshops and
training delivered by Palisade
consultants, and previews of
» México, D.F.:
» Rio de Janeiro
» Las Vegas
» Trade Shows
» Training Seminars
Palisade will be attending the following trade shows in the coming months.
2011 ASQ Lean and
Six Sigma Conference
February 28th - March 1st
on Business Analytics
and Operations Research
April 10th - 12th
PMI Global Congress 2011
October 22nd – October 25th
Dallas/Fort Worth, TX
March 21st -23rd
March 21st -24th
PMI EMEA Global
May 9th - 11th
June 21st - 23rd
58th ISI Congress 2011
August 21st - 26th
Sandton: 8-11 March
Brisbane: 2-3 March
Melbourne: 30-31 March
Sydney: 6-8 April
Perth: 11-12 May
Aukland: 30-31 May
São Paulo: 29-31 de março
Rio De Janeiro: 6-8 de abril
Belo Horizonte: 11-13 de maio
EMEA & India
Barcelona: 28 Feb.- 1 March
London: 12-13 April
London: 24-25 May
London: 20-21 June
Moscow: 23-24 June
Buenos Aires: 21-23 de marzo
Lima: 11-13 de abril
Santiago, Chile: 5-7 de abril
Panamá: 11-13 de mayo
Houston: 15-16 March
Washington, DC: 5-7 April
Phoenix: 19-21 April
Miami: 3-5 May
Chicago: 17-19 May
Calgary: 7-9 June
Mount Laurel, NJ: 21-22 June
» Live Web Training
Decision-Making and Quantitative Risk Analysis using @RISK
28-29 April, 11am-3pm ET
12-13 May, 11am-3pm ET
Decision-Making and Quantitative Risk Analysis using the DecisionTools Suite
17-18 March, 9am-1pm ET
1-2 June, 11am-3pm ET
18-19 April, 9am-1pm ET
30 June - 1 July, 11am-3pm ET
Project Risk Assessment Using @RISK for Project
14 April, 9am-1pm ET
11 July, 11am-3pm ET
Análisis de decisión y de riesgo cuantitativo utilizando @RISK,
1 al 2 de marzo
» Live Webcasts
These complimentary sessions are 30-60 minutes, held via web conference. See industry case studies, software demos, applications, and more.
Introduction to Risk
Analyisis using @RISK
Feb 24, 2011, 10:00am GMT
Monte Carlo Simulation
March 24, 2011, 1:00pm ET
Dr. Wayne Winston
Professor, Kelley School of
Business at Indiana University
in Determining Optimal Swaps
for Risk Mitigation
March 30, 2011, 11:00am ET
Roy Nersesian, Professor, Columbia University
Palisade software is available in fully functional trial versions. Try @RISK or any of our software today!
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decision analysis toolkit
The world's most widely
used risk analysis tool
» @RISK for Excel
» @RISK for Project
» @RISK for Six Sigma
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