Last month saw the launch of our first European training program covering the use of the entire DecisionTools Suite 5.0.
The course consists of a two-day session using @RISK, and a third day of learning the other products in the Suite. On Day 1, we cover the fundamentals, with hands-on examples including basic cost modelling and event risk modelling. On Day 2, we aim to extend participants’ @RISK modelling techniques, including time for discussing modelling situations encountered by participants in the real world.
On the third day, we first look at PrecisionTree to build decision trees for making decisions under uncertainty, with applications in many areas including exploration and production, and real options valuation. We then use TopRank as a tool to audit and conduct sensitivity analysis on general Excel models. The topic of optimization modelling is covered using the genetic algorithm optimization methods of Evolver and RISKOptimizer, and some of the practical challenges in building robust optimization models are discussed. Finally, we use NeuralTools to perform predictive analysis based off neural network logic and StatTools to conduct a variety of statistical analysis. As always, the course is built around practical examples and applications, with most models being built from scratch to maximise participants’ hands-on experience.
The goal is to help software users improve their skills and become more productive in just a few short days.
Dr. Michael Rees
Director of Training and Consulting