David Sanderson wrote this MS Excel add-in while doing his MBA at U of M. The product is called “Lumenaut” and it has two parts. The first part contains a range of statistical routines mainly used in business (Descriptive, Cross Tables, Linear Regression, Logistic Regression, Correlation, Autocorrelation and Lagged variables). Key differences between Lumenaut and other comparable add-ins are the speed at which the regression analysis is carried out, ease of use for the customer, and clear presentation of results.
The second part of the product contains a decision analysis tree routine coupled with a sensitivity analysis routine. The decision tree is both easy to use and well presented. The customer can quickly build a tree or modify it as required. The sensitivity analysis routine enables the customer to carry out two way sensitivity runs producing a table of payouts, a 3D chart showing those payouts and a strategic decision table showing what choices can be made. Compared with more up market products such as Palisade’s Precision Tree, it holds up very well in terms of all basic and some advanced features.
Editor’s Note: I have not used this product and make no recommendations about it one way or the other – I add it because it *seems* like it would be useful.
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Very insightful.