DecisionTools
Suite
Complete Risk & Analysis Toolkit in Microsoft Excel
DecisionTools for Risk, Decision, & Data Analysis
No matter what industry you’re in, the DecisionTools Suite can help you make decisions with confidence. Take guesswork out of big decisions, and plan strategies with confidence. With the DecisionTools Suite, you can assess risk and optimize decisions – right in your Excel spreadsheet.
Overview
The DecisionTools Suite is an integrated set of programs for risk analysis and decision making under uncertainty. DecisionTools Suite software integrates seamlessly with Microsoft Excel, and includes the following (note that not all tools are available in all editions):
@RISK
Risk Analysis with Monte Carlo Simulation
RISKOptimizer
Optimization Under Uncertainty
ScheduleRiskAnalysis
Manage Uncertainty in Project Schedules
PrecisionTree
Probabilistic Decision Trees
TopRank
“What-if” Sensitivity Analysis
StatTools
Statistics & Forecasting
NeuralTools
Predictive Neural Networks
Evolver
Sophisticated Optimization
Industries using DecisionTools Suite
Energy & Utilities
Insurance & Reinsurance
Finance & Banking
Manufacturing & Consumer Goods
Construction & Engineering
Aerospace & Defense
Customer Success Stories with DecisionTools Suite
Learn how DecisionTools Suite has helped decision makers to improve risk and decision analysis efforts.
Andrew Evans
Decision Analyst, Unilever
We evaluated various options and the DecisionTools Suite was the tool that best met our business requirements. As a result it has played a key role in increasing the quality of decision-making.
Viktor Thorisson
Analyst, Enex
Palisade’s sophisticated DecisionTools Suite has highlighted that a rather nontraditional approach is likely to give us a higher expected profitability. As a result we expect drilling for this plant to start shortly.
Dr. Rainer Hamann
Topic Manager Risk Assessment, Safety Research, Det Norske Veritas (DNV)
The DecisionTools Suite’s PrecisionTree makes it straightforward to quickly develop event trees while @RISK enables us to be clear about the level of uncertainty contained in each model. Embedded in the Microsoft environment, DecisionTools also allows us to incorporate standard Excel features, making it easy to use.
Robert Hunt
Associate Director for Investment Analysis, Procter and Gamble
The DecisionTools Suite has been very useful in helping us make superior decisions. We’ve trained well over 1,000 people. It’s really powerful for our company.
How DecisionTools Suite Is Used
DecisionTools Suite enables endless applications, including these in:
- Investment Planning & Portfolio Optimization
- Oil, Gas, & Mineral Reserves
- Supply Chain Management
- Cost Estimation
- Engineering Reliability
Investment Planning & Portfolio Optimization
Simulate multiple portfolio assets (such as stocks, bonds, real estate, or projects) to maximize return while minimizing risk. Calculate Value-at-Risk, or the probability of different losses on a portfolio.
Oil, Gas, & Mineral Reserves
Map out sequential, probabilistic exploration plans of prospective sites containing oil, natural gas, or other minerals. Estimate uncertain reserves to make wise drilling decisions.
Supply Chain Management
Optimize multiple suppliers to minimize failure points and maximize probability of deliveries. Identify high-risk areas in the supply chain to create mitigation strategies.
Cost Estimation
Get an accurate, probabilistic estimate of materials and labor costs throughout the entire project. Understand the likelihood of going over budget under a variety of scenarios.
Engineering Reliability
Gain insight into the factors driving variance and inconsistencies to ensure quality.
Investment Planning & Portfolio Optimization
Investment Planning & Portfolio Optimization
Simulate multiple portfolio assets (such as stocks, bonds, real estate, or projects) to maximize return while minimizing risk. Calculate Value-at-Risk, or the probability of different losses on a portfolio.
Oil, Gas, & Mineral Reserves
Oil, Gas, & Mineral Reserves
Map out sequential, probabilistic exploration plans of prospective sites containing oil, natural gas, or other minerals. Estimate uncertain reserves to make wise drilling decisions.
Supply Chain Management
Supply Chain Management
Optimize multiple suppliers to minimize failure points and maximize probability of deliveries. Identify high-risk areas in the supply chain to create mitigation strategies.
Cost Estimation
Cost Estimation
Get an accurate, probabilistic estimate of materials and labor costs throughout the entire project. Understand the likelihood of going over budget under a variety of scenarios.
Engineering Reliability
Engineering Reliability
Gain insight into the factors driving variance and inconsistencies to ensure quality.
Greater Than the Sum of its Parts
Learn More About Each Product in the Suite
Each component of the DecisionTools Suite performs powerful analyses.
When you combine products, you can achieve more complete results than any single program can provide.
@RISK
@RISK performs risk analysis using Monte Carlo simulation to show you many possible outcomes in your Microsoft Excel spreadsheet—and how likely they are to occur. This means you can judge which risks to take and which ones to avoid.
PrecisionTree
PrecisionTree performs decision analysis in Microsoft Excel using decision trees and influence diagrams. Decision trees let you visually map out complex decisions in a sequential, organized manner. This helps you identify all possible alternatives and choose the best option.
TopRank
TopRank performs automated “what if” sensitivity analysis on Microsoft Excel spreadsheets. Define any output or “bottom line” cell or cells, and TopRank will automatically find and vary all input cells which affect your output. This allows you to identify and rank all input factors which affect your bottom line.
StatTools
StatTools performs forecasting and statistical analysis in Microsoft Excel. It replaces Excel’s built-in statistics functions with its own, more robust and accurate functions. StatTools covers the most common statistical analyses, and even allows you to build your own custom statistical procedures.
NeuralTools
NeuralTools performs predictions in Microsoft Excel using sophisticated neural networks. NeuralTools imitates brain functions to “learn” patterns in your known data, using those patterns to make predictions from new, incomplete data. NeuralTools can automatically update predictions live when input data changes, saving time and enabling more robust analyses.
Evolver
Evolver performs optimization in Microsoft Excel using genetic algorithms, linear programming, or the OptQuest solving methods. It finds the best solution to linear problems large and small, and gives the best overall global solution to nonlinear, complex problems where other solvers fail. Evolver constantly tries new, different solutions to arrive at the best answer possible.
RISKOptimizer
RISKOptimizer uses genetic algorithms or OptQuest methods, along with Monte Carlo simulation, to solve optimization problems. Take any optimization problem and replace uncertain values with @RISK functions that represent ranges of possible values. RISKOptimizer tries different combinations of adjustable cells to achieve the goal you define, while running Monte Carlo simulations on each trial solution to account for inherent uncertainty. The result is the most robust, accurate solution possible.
ScheduleRiskAnalysis
Schedule Risk Analysis (or SRA) is a complete toolset for @RISK that enables project managers to account for uncertainty in project schedules. Working within the familiar Excel environment, SRA lets you perform risk modeling on project files created in Primavera P6 or Microsoft Project using Monte Carlo simulation. This shows you virtually all possible outcomes in your schedule – and tells you how likely each is to occur, helping you to answer the key questions: “Will this finish on time and within budget?”
Additional Benefits
Subscription
Your software subscription has you fully covered.
- Free upgrades when new software versions are released
- Full access to Technical Support
Support
Technical Support is available to help with installation, operational problems, or errors.
- Included with subscription
- Phone, web, or email
Customizable
Leverage the power of DecisionTools in your own custom application with Palisade Custom Development.
- Engage Palisade to design your solution
- Standardize your analyses and reduce learning curves
