Analytics Articles

The Need for Speed 2019 study compares Excel Add-in based modeling using @RISK and Crystal Ball to programming environments such as R and Julia. All 3 aspects of speed are covered [time-to-solution, time-to-answer and processing speed] in addition to accuracy and precision.<br />

<p>Since the mid-1990s academics and business leaders have been striving to focus their businesses on what is profitable and either partnering or outsourcing the rest. I have assembled a long list of quotes that define what a virtual organization is and why it's different than conventional organizations. The point of looking at these quotes is to demonstrate that none of these models or definitions can adequately be achieved without some heavy analytics and integration of bot

Business analytics stratifies into three levels of inquiry and findings beginning with <em>descriptive,</em> followed by <em>predictive,</em> and finally <em>prescriptive</em> methods as follows:

<p><span style="font-family: arial;">When building models we are often confronted with assumptions that evolve over time. In most cases it is important to capture these changes to keep our model relevant. Over the last decade, Business Intelligence solutions have created a culture of self-service IS information.  Given this democratization and decentralized access to data has created many opportunities and pitfalls for business analysts and decision-makers. We are going to ou

<p>Prof Frank H Knight (1921) proposed that "risk" is randomness with knowable probabilities, and "uncertainty" is randomness with unknowable probabilities. However, risk and uncertainty both share features with randomness. The illustration below explains the relationship of the concepts better than words...</p> <div style="clear: both; text-align: center;" class="separator"><a href="http://2.bp.blogspot.com/_cQns-qO1Pks/TARiZDGHZAI/AAAAAAAAAmg/d-L4QV7jInk/s1600/uncertainty.j

This post introduces three popular learning curve methods for estimating how a person, team, or organization benefits from forecasting repeat learning

In today's interconnected global economy, trade wars and tariff policies can have far‐reaching impacts on domestic and international markets. This blog article is intended to foster a discussion and give fellow decision modelers and strategists (Decision Superheroes) a simple framework to understand the system dynamics of a trade war. The models were coded in Julia and all the files are available on Github.

Oracle Crystal Ball continues to be a significant and commonly utilized analysis tool, especially in areas that necessitate Monte Carlo simulation, risk analysis, and optimization within Excel. It is especially beneficial for professionals who favor operating within the familiar Excel environment while applying advanced statistical and simulation methods.