Friday, October 24, 2008

[eMBA] TreePlan and Precision Tree for Excel

(For Data Analysis and Modeling)

These are the decision tree and charting software which will help you to plot decision trees in Excel

TreePlan helps you build a decision tree diagram in an Excel worksheet using dialog boxes. Decision trees are useful for analyzing sequential decision problems under uncertainty. TreePlan automatically includes formulas for summing cash flows to obtain outcome values and for calculating rollback values for determining optimal strategy.

PrecisionTree performs decision analysis in Microsoft Excel using decision trees and influence diagrams. Decision trees let you visually map out complex, multi-layered decisions in a sequential, organized manner. This helps you identify all possible alternatives and choose the best option.

Simple Tornado Chart
A tornado chart is a bar chart commonly used to compare characteristics of two populations.

There are two types of Data Tables
(1 way Data Table & 2 Way Data Table)

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