Analytica was designed from the start to combine several key decision-technologies into a fully integrated, easy-to-use package. They include:
- Visual influence diagrams to define and organize complex models into comprehensible modules;
- Intelligent arrays™ to make it easy to manage models with multiple dimensions;
- Monte Carlo simulation to analyze uncertainty and risk with speed and simplicity;
- Optimization, including linear and nonlinear programming.
The technology underlying Analytica is based on a decade of research by decision analysts, computer scientists, and user-interface designers at Carnegie Mellon University, with support from the National Science Foundation.
See below for more details on each technology.
Monte Carlo Simulation
Monte Carlo simulation is a simple and efficient way to represent and analyze risk and uncertainty. It generates a random sample of values from each input probability distribution…
What’s Wrong With Spreadsheets
The spreadsheet was the first “killer app”, the application which led to millions of people buying their first personal computers in the early 1980s. Spreadsheets were a brilliant…
Probabilistic Forecast Libraries
Decision modelers and forecasters increasingly realize the advantage of probabilistic forecasts that explicitly represent the inevitable uncertainties in the form of probability…