Modeling for Insight A Master Class for Business Analysts 1st edition by Stephen Powell, Robert Batt 0470175559 9780470175552

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ISBN 10: 0470175559

ISBN 13: 9780470175552

Author: Stephen G Powell, Robert J Batt

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: Influence diagrams Spreadsheet engineering Parameterization Sensitivity analysis Strategy analysis 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.

Modeling for Insight A Master Class for Business Analysts 1st Table of contents:

PART I

1. Introduction
   1.1 Models and Modeling
   1.2 Well-Structured versus Ill-Structured Problems
   1.3 Modeling versus Problem Solving
   1.4 Modeling for Insight
   1.5 Novice Modelers and Expert Modelers
   1.6 Craft Skills in Modeling
   1.7 A Structured Modeling Process
   1.8 Modeling Tools
   1.9 Summary

2. Foundations of Modeling for Insight
   2.1 Introduction
   2.2 The Modeling Process
   2.3 Tools for Modeling
   2.4 Presentation Skills
   2.5 Summary

3. Spreadsheet Engineering
   3.1 Why Use Spreadsheets?
   3.2 Spreadsheet Engineering
   3.3 Summary

PART II

4. A First Example—The Red Cross Problem
   4.1 Introduction
   4.2 The Red Cross Problem
   4.3 Bringing Blood Quality into the Analysis
   4.4 Improving and Iterating
   4.5 Summary

5. Retirement Planning Problem
   5.1 Introduction
   5.2 Retirement Planning (A)
   5.3 Retirement Planning (B)
   5.4 Retirement Planning (C)
   5.5 Presentation of Results
   5.6 Summary

6. Technology Option
   6.1 Introduction
   6.2 Technology Option (A)
   6.3 Technology Option (B)
   6.4 Additional Refinements
   6.5 Presentation of Results
   6.6 Summary

PART III

7. MediDevice
   7.1 Introduction
   7.2 MediDevice Case (A)
   7.3 Revising the Model
   7.4 MediDevice Case (B)
   7.5 Presentation of Results
   7.6 Summary

8. Draft Commercials
   8.1 Introduction
   8.2 Draft Commercials Case
   8.3 Frame the Problem
   8.4 Diagram the Problem
   8.5 M1 Model and Analysis
   8.6 M2 Model and Analysis
   8.7 M3 Model and Analysis
   8.8 M4 Model and Analysis
   8.9 Presentation of Results
   8.10 Summary

9. New England College Skiway
   9.1 Introduction
   9.2 New England College Skiway Case
   9.3 Frame the Problem
   9.4 Diagram the Problem
   9.5 M1 Model and Analysis
   9.6 Analyzing Mountain Capacity
   9.7 M2 Model and Analysis
   9.8 M3 Model and Analysis
   9.9 Considering Uncertainty
   9.10 Presentation of Results
   9.11 Summary

10. National Leasing, Inc.
    10.1 Introduction
    10.2 National Leasing Case
    10.3 Frame the Problem
    10.4 Diagram the Problem
    10.5 M1 Model and Analysis
    10.6 M2 Model and Analysis
    10.7 M3 Model and Analysis
    10.8 M4 Model and Analysis
    10.9 Presentation of Results
    10.10 Summary

11. Pharma X and Pharma Y
    11.1 Introduction
    11.2 The Pharma X and Pharma Y Case
    11.3 Frame the Problem
    11.4 Diagram the Problem
    11.5 Expected Value or Simulation?
    11.6 M1 Model and Analysis
    11.7 M2 Model and Analysis
    11.8 M3 Model and Analysis
    11.9 Presentation of Results
    11.10 Summary

12. Invivo Diagnostics, Inc.
    12.1 Introduction
    12.2 Invivo Diagnostics Case
    12.3 Frame and Diagram the Problem
    12.4 M1 Model and Analysis
    12.5 M2 Model and Analysis
    12.6 M3 Model and Analysis
    12.7 M4 Model and Analysis
    12.8 Presentation of Results
    12.9 Summary
    

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