OR/MS Today, October 2010
Decision Analysis Software Survey
Table 13
|
Product |
Specific applications for which software is most widely used? |
Comments |
| @RISK | prospecting; new product evaluation; portfolio optimization; reserves estimation; pricing | Since 1984, @RISK has been the leading add-in to Excel to analyze risks using Monte Carlo simulation |
| 1000Minds | Prioritisation of patients for health care, selecting health technologies, project portfolio selection, competition judging | 1000Minds is useful wherever there is a need to prioritize or where allocation decisions need to be made. |
| AgenaRisk | ||
| Analytica 4.2 | Business modeling, financial analysis, risk analysis, R&D project evaluation, portfolio management, environmental analysis. | Visual environment for building, analyzing, distributing models. Hierarchical influence diagrams, efficient Monte Carlo, intelligent arrays. |
| DecideIT | Public decision making, large-scale public projects. | Implements the DELTA decision analysis framework for decision evaluation with imprecise probabilities, utilities, and criteria weights. |
| Decision Advisor® | R&D and New Product Development | Automatically produces completed Excel spreasheet from influence diagram within seconds; updated diagram quickly updates the spreadsheet. |
| Decision Explorer | Decision Explorer is most widely used for strategy development, but can be used for many different applications. | Decision Explorer is a powerful ideas mapping tool, used to capture and model the ideas/ different perspectives that can surround an issue. |
| DecisionTools Suite | New product launch; clinical trials; medical diagnoses; call center planning; reserves estimation; portfolio optimization | DecisionTools Suite is a suite of Excel add-ins: @RISK, PrecisionTree, TopRank, NeuralTools, StatTools, Evolver & RISKOptimizer |
| Doctus | Supporting top level decision takers by building knowledge bases of the experts. | Rule-based reasoning for original decisions, case-based reasoning for routine decision, and reductive reasoning to support delegating decisions. |
| DPL | Decision analysis, risk analysis, portfolio prioritization, strategy, capital budgeting, valuation | DPL combines decision trees, influence diagrams and Excel spreadsheets to provide an intuitive and comprehensive modeling environment |
| DTrio | Decision Framing:Issue raising, categorization, decision hierarchies, strategy tables, influence diagrams & VOI analysis | DTrio is an Excel Add-in with decision templates for DA and specific VOI decision problems. |
| Equity3 | Strategy development and planning. Budgeting. Resource allocation. Structured cost reductions. R&D portfolios prioritization. | Multi-Criteria Decision Analysis tool for individuals and organisations in obtaining better value-for-money when allocating limited resources |
| ForeTell-DSS | Dynamic risk management based on portfolio strategies | ForeTell solutions enable organizations to "test drive" critical decisions via a customizable scenario-based "what-if" simulation platform |
| Frontier Analyst 4 | Analysing relative efficiency, and targeted improvements. | A significant step forward in making advanced DEA accessible. Now available to integrate into back-office systems. |
| GoldSim | simulation of water management systems, engineering risk analysis, water quality modeling | GoldSim is a flexible, and highly graphical general-purpose dynamic simulator with a powerful Monte Carlo simulation engine. |
| HiPriority 3 SE | ||
| Hiview3 | Capital Projects, Policy Setting, Strategy Selection, Relocation/Site selection, Problem Solving and Budget Resourcing. | Hiview3 is a decision modelling tool that supports the appraisal and evaluation of options effective for individuals and groups. |
| IDS (Intelligent Decision System) | risk assessment, performance assessment, safety assessment, cost benefit analysis, ranking customer key voices, policy making | IDS uses distributions instead of averages to measure performances to overcome the flaw of averages & model hybrid uncertainties in one structure |
| Logical Decisions for Windows v6.2 | budget prioritization, systems design, analysis of alternatives | For decisions with many criteria and value judgments, LDW's many features and graphic displays make it the most powerful software in its class. |
| Logical Decisions Portfolio v6.2 | budget prioritization, systems design | For portfolio decisions with many options and constraints, LDW Portfolio is the most powerful and easy to use software in its class. |
| MakeItRational | - | We add new features almost every month. Currently we are developing ’ÄûMultiple stakeholders collaboration’ă. Project is cofunded by European Union |
| MindDecider | Project management | Key feature that distinguishes MindDecider from other products ÀÜ Time Analysis mode which allows interactive time implementation |
| OnBalance 3 SE | ||
| OWL | Useful for knowledge management by capturing and storing decision problems for future review and re-use. | OWL is a desktop tool containing decision frames, case studies, et al., associated with your decision problems. Use these as "go-bys". |
| PEERForecaster Excel Add-in | Sales and Demand Forecasting | |
| Portfolio NavigatorÀô Value Optimization Software | Strategy development; project selection; project prioritization; value-based portfolio management | Web-based, hosted or installed system. Unlimited number of projects and users. Price based on number of active projects in system. |
| Promax 2010 Standard | Prioritization, market research, blue ocean strategy, measures of effectiveness | A brand new decision support software with mind mapping functionality, modern visualizations of results yet underpinned with academic rigor |
| QMms (Quantitative Methods for Management Science) | ||
| RICH Decisions | Priority-setting in innovation management, selection of risk metrics, weight elicitation for bridge repair programmes | The software supports the RICH method for elicitation of incomplete ordinal information about attribute weights. http://www.rich.tkk.fi |
| RiskSim | Monte Carlo simulation of spreadsheet planning models | Monte Carlo simulation add-in for Microsoft Excel |
| RPM-Decisions | Management of innovation processes, maintanance of built infrastructures (for applications, see http://www.rpm.tkk.fi) | RPM-Decision provides support for resource allocation and multi-criteria project portfolio selection under incomplete preference information |
| SensIt | Sensitivity analysis of a spreadsheet model to create spider and tornado charts | Sensitivity analysis add-in for Microsoft Excel |
| TreePlan | Sequential decision problems under uncertainty, linked decisions | Decision tree add-in for Microsoft Excel |
| TreeTop | Decision tree analysis, tornado diagrams, cumulative probability plots, logic nodes, user defined decision metrics etc. | TreeTop can drive your Excel spread-sheet models by substituting values and retrieving results. It handles macros and logic nodes. |
| Vanguard Business Analytics Suite | Applicable to all. | Links to the Vanguard Cloud for large-scale modeling and Monte Carlo simulations. |
| Vanguard System | Applicable to all. | Designed for modeling groups. Version controls. Web-based reports. Links to the Vanguard Cloud for large-scale modeling & Monte Carlo simulations |
Decision Analysis Software Survey Pages:
Introduction | Page 1 | Page 2 | Page 3 | Page 4 | Page 5 | Page 6 | Page 7 | Page 8 | Page 9 | Page 10 | Page 11 | Page 12 | Page 13 | Vendor List | Accompanying Article
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