Modeling for Insight A Master Class for Business Analysts

by Powell, Stephen G.; Batt, Robert J.

• ISBN13: 9780470175552
• ISBN10: 0470175559
• Edition: 1st
• Format: Paperback
• Copyright: 2008-10-24
• Publisher: Wiley

Summary

Modeling is the process of building and using models to help make business decisions. Designed to improve a readers spreadsheet modeling skills, Modeling for Insight details and explores the fundamental skills needed to problem-solve the situation. The book's focus is on modeling new and ill-structured problems from scratch when there is no existing procedure to follow. Freely downloadable Microsoft Office Excel 2003 and Crystal Ball are used throughout to help undergraduate and/or graduate students, MBA students, and modeling practitioners analyze the risks and uncertainties associated with spreadsheet models.

Author Biography

Stephen G. Powell, PhD, is Professor at the Tuck School of Business at Dartmouth College. The recipient of the 2001 INFORMS Prize for the Teaching of Operations Research/Management Science Practice, Dr. Powell teaches and conducts research on modeling for business decision making. He is the coauthor of Management Science: The Art of Modeling with Spreadsheets, Second Edition, also published by Wiley.

ROBERT J. BATT, mem, mbA, is Tuck Fellow and researcher at the Tuck School of Business at Dartmouth College. With experience in both academia and industry, his work focuses on operations management and finance.

Table of Contents

Introduction

Models and Modeling

Well-structured Versus Ill-structured Problems

Modeling versus Problem Solving

Modeling for Insight

Novice Modelers and Expert Modelers

Craft Skills in Modeling

A Structured Modeling Process

Modeling Tools

Summary

Foundations of Modeling for Insight

Introduction

The Modeling Process

Tools for Modeling

Presentation Skills

Summary

Spreadsheet Engineering

Why Use Spreadsheets?

Spreadsheet Engineering

Summary

A First Example: The Red Cross Problem

Introduction

The Red Cross Problem

Bringing Blood Quality into the Analysis

Improving and Iterating

Summary

The Retirement Planning Problem

Introduction

Retirement Planning (A)

Retirement Planning (B)

Retirement Planning (C)

Presentation of Results

Summary

The Technology Option Problem

Introduction

Technology Option (A)

Technology Option (B)

Further Refinements

Presentation of Results

Summary

MediDevice

Introduction

MediDevice (A)

Revising the model

MediDevice (B)

Presentation of Results

Summary

Draft Commercials

Introduction

Draft Commercials Case

Problem Formulation

Influence Diagram

M1 Model and Analysis

M2 Model and Analysis

M3 Model and Analysis

M4 Model and Analysis

Presentation of Results

Summary

New England College Skiway

Introduction

New England College Skiway Case

Problem Formulation

Influence Diagram

M1 Model and Analysis

Analyzing Mountain Capacity

M2 Model and Analysis

M3 Model and Analysis

Considering Uncertainty

Presentation of Results

Summary

National Leasing

Introduction

National Leasing Case

Problem Formulation

Influence Diagram

M1 Model and Analysis

M2 Model and Analys

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