Book description
Praise for Modeling for Insight
"Most books on modeling are either too theoretical or too
focused on the mechanics of programming. Powell and Batt's emphasis on
using simple spreadsheet models to gain business insight (which is,
after all, the name of the game) is what makes this book stand head
and shoulders above the rest. This clear and practical book deserves a
place on the shelf of every business analyst."
-Jonathan
Koomey, PhD, Lawrence Berkeley National Laboratory and Stanford
University, author of Turning Numbers into Knowledge: Mastering the
Art of Problem Solving
Most business analysts are familiar with using spreadsheets to
organize data and build routine models. However, analysts often
struggle when faced with examining new and ill-structured problems.
Modeling for Insight is a one-of-a-kind guide to building
effective spreadsheet models and using them to generate insights. With
its hands-on approach, this book provides readers with an effective
modeling process and specific modeling tools to become a master modeler.
The authors provide a structured approach to problem-solving using
four main steps: frame the problem, diagram the problem, build a
model, and generate insights. Extensive examples, graduated in
difficulty, help readers to internalize this modeling process, while
also demonstrating the application of important modeling tools, including:
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Influence diagrams
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Spreadsheet engineering
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Parameterization
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Sensitivity analysis
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Strategy analysis
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Iterative modeling
The real-world examples found in the book are drawn from a wide range
of fields such as financial planning, insurance, pharmaceuticals,
advertising, and manufacturing. Each chapter concludes with a
discussion on how to use the insights drawn from these models to
create an effective business presentation. Microsoft Office Excel and
PowerPoint are used throughout the book, along with the add-ins
Premium Solver, Crystal Ball, and Sensitivity Toolkit. Detailed
appendices guide readers through the use of these software packages,
and the spreadsheet models discussed in the book are available to
download via the book's related Web site. Modeling for Insight
is an ideal book for courses in engineering, operations research, and
management science at the upper-undergraduate and graduate levels. It
is also a valuable resource for consultants and business analysts who
often use spreadsheets to better understand complex problems.
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.
