Spreadsheets are a computerised mathematical and data management tool.
- An end-user modeling tool.
- Flexible and ‘easy’ to use.
- Supports complex mathematical methods.
- Can be used to implement linear programming techniques.
- Supports complex statistical and regression analysis methods.
- Provides services like what-if analysis, data-base management, automation macros.
- Can be used for static and dynamic modeling.
- risk analysis can be incorporated
Spreadsheets include extensive forecatsing, statistical and other modeling and databse management capabilities, functions and routines. As spreadsheet packages eveolved, add-ins were develpoed for structuring and solving specific model classes.
DSS related add-ins
Most popular end user modeling tool, incorporates many power financial statistical, mathematical and other functions.
Spreadsheets can perform model solution tasks such as:
1. Linear programming
Informally, linear programming determines the way to achieve the best outcome (such as maximum profit or lowest cost) in a given mathematical model and given some list of requirements represented as linear equations.
from wiki: http://en.wikipedia.org/wiki/Linear_programming
2. Regression analysis
regression analysis refers to techniques for modeling and analyzing several variables, when the focus is on the relationship between a dependent variable and one or more independent variables.
from wiki: http://en.wikipedia.org/wiki/Regression_analysis
Other features:
- what-if analysis
http://office.microsoft.com/en-us/excel/CH010004551033.aspx
http://www.informit.com/podcasts/episode.aspx?e=B4C8DE7D-3AC1-45CD-8F4A-1F31714AA61A
http://www.sskkii.gu.se/publications/Documents/html/dynwhatif/
- goal-seeking: Indicating a taget cell,its desired value and changing a cell.
- datamanagement
- programmability (macros)
Most spreadsheet packages provide seemless integration beciase they read and write common file structures and easily interface with databases.
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