Integrated risk analysis tools, DecisionTools Suite 5.0, enhances informed decision-making
Risk analysis specialist, Palisade Corporation (www.palisade.com) continues its drive to help organisations make informed decisions with the launch of DecisionTools Suite 5.0. The new offering is an integrated set of tools that enable users to perform a wide range of sophisticated risk analysis and decision support tasks in order to reduce uncertainty. DecisionTools Suite 5.0, which has been designed as the ''Microsoft Office of analytical software'' is the only product of its kind on the market.
DecisionTools Suite 5.0 incorporates Palisade''s flagship product, Monte Carlo simulation software, @RISK, which was first launched in 1987 and is used by organisations around the world. Palisade has also integrated a further six of its quantitative software tools, bringing them together under the common umbrella of DecisionTools Suite 5.0. Developed for use as decision-making becomes more complex, these programs perform decision tree, sensitivity analysis, statistics and time-series forecasting, genetic algorithm optimisation and prediction using neural networks.
The components of DecisionTools Suite 5.0 all run on Microsoft Excel, and have been designed to work together using common interfaces and spreadsheet functions in order to maximise insight into the complex processes that support accurate decisions. The flexible suite is applicable to a wide range of industry sectors including oil and gas, pharmaceuticals and financial services.