Excel

excelmontecarlo.com – a full tutorial on Monte Carlo simulation in Excel without using add-ins. Good introduction to core concepts and some advanced techniques. MonteCarlito is a free Excel add-in with support for both Windows and OS X versions of Excel. It supports some standard statistical functions (mean, median, standard error,…

These free dashboard software usually offer fewer data source support than the commercial products, but Exel support is pretty well ubiquitous.   Bittle supports the creation of online dashboards specifically for the SME user. The free package restricts data storage and data sources, and comes with a standard graphics library (instead…

Analyse-it Standard Edition – Descriptive statistics, histograms, box-whisker plots, normal plots, CDF plots and more. Estimate parameters and test hypotheses for location, dispersion, and proportions Discover relationships with correlation, and scatter plot matrices. Fit models and make predictions with simple linear regression, multiple linear regression, and logistic regression. Method Validation…

‘Data Mining in Excel’ is excellent introductory material to data mining methods, and specifically their implementation in Excel. The book uses XLMiner to illustrate examples, but the principles are universal. In any case a free 15 day trial of XLMiner is available. The book was published in 2006, but the…

Lumenaut Lumenaut provides three analysis packages covering Monte Carlo simulation, Statistical Analysis and Decision Tree Excel Analysis. The latter includes sensitivity analysis, tornado charts, spider charts and probability profile charts. Various measures such as expected utility and net present value , and tree size can grow to 28 node width…

The five neural network Excel add-ins listed below make the job of using neural networks fairly straightforward. They all automate the training and testing process to some extent and some allow the neural network architecture and training process to be tuned. 4Cast XL This product is easy to use but…

‘Solvers’ are used to find the maxima and minima of a function subject to any number of constraints. The classic example is that of animal food mixing. Each ingredient has its own combination of nutrients and the overall mix has to meet certain requirements for every nutrient. Since each ingredient…

The capability of the five add-ins listed below vary considerably. XLSTAT is the most extensive product set, but also the most expensive. On the other hand Statistician and WinSTAT offer broad functionality for a very modest price (both under US$ 100). Analyse-it and StatTools6 sit in the middle. It all…

Monte Carlo simulation (MCS) is widely used to evaluate risk in business. In its most common application it assumes that the probability distributions for various variables are known and most MCS software comes with support for a variety of distributions. As a simple example we might know the probability distribution…