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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:
| Holly Bailey Main Street/Working Communications Tel: 607-532-4924 Fax: 607-532-4720 hbwrite@zoom-dsl.com |
Randy Heffernan Tel: 607-277-8000 Fax: 607-277-8001 rheffernan@palisade.com |
