Prescriptive Analytics: Optimization and Simulation - Decision Modeling with Spreadsheets
3 important questions on Prescriptive Analytics: Optimization and Simulation - Decision Modeling with Spreadsheets
What is a spreadsheet?
The most popular end-user modeling tool with many powerful financial, statistical, mathematical functions. Linear programming and regression analysis. It has evolved to an important tool for analysis planning and modeling.
What is a spreadsheet add-in? How can add-ins help in DSS creating and use?
There are add-ins developed for DSS development., such as Solver and What' Best for performing linear and non-linear optimizations.
Explain why a spreadsheet is so conducive to the development of DSS.
They have many capabilities, including what-if analysis goal seeking, programming, database management, optimization and simulation.
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