MANAGEMENT SCIENCE

The Art of Modeling with Spreadsheets

Steve Powell and Ken Baker

Fourth Edition

Successful business modeling is as much an art as a science. Becoming an expert modeler, therefore, requires both technical knowledge and mastery of craft skills. This book brings together the three essential facets of modeling expertise:

  • Spreadsheet engineering: effective methods for designing, building, and testing models, and for performing model-based analysis.

  • Management science: optimization and simulation (as well as statistics), advanced analytic methods that can reveal powerful insights into business problems.

  • Modeling craft: tools used by experts to generate insights from models, such as influence charts and prototyping.

    • The new Fourth Edition relies on Analytic Solver Platform for Education from Frontline Systems, Inc., a powerful, integrated add-in to Excel for optimization, simulation, data mining, decision trees, and sensitivity analysis.

     

     

    Management Science book cover