DecisionTools Suite

DecisionTools Suite is a set of integrated programs for risk analysis and decision-making when outcomes are uncertain, working inside Microsoft Excel. It comes from Palisade, which is now part of Lumivero, and has been developed since 1984. The programs sit inside a spreadsheet, so analysts keep working in a familiar environment. The vendor stresses that no data or statistics degree is required to evaluate risk with them.

What DecisionTools Suite offers

• @RISK — Monte Carlo simulation.
• PrecisionTree — decision trees.
• TopRank — what-if sensitivity analysis.
• StatTools — statistical analysis and forecasting.
• NeuralTools — predictive neural networks.
• Evolver and RISKOptimizer — optimisation.

Who it works with

It is applied to cost estimation, portfolio optimisation, insurance loss modelling, reserves estimation and demand forecasting, with no statistics degree needed.

Key facts

• Platform: Microsoft Excel
• Owner: Lumivero, formerly Palisade
• Developed since: 1984