Spreadsheet Modeling and Decision Analysis: A Practical Introduction to Management Science

Rating:
Summary: This book is a great Sleeping aid
Review: I was required to buy this book for a first year MBA course, and i found myself unable to stay awake for more than one page at a time. Not so much the author but the subject matter is enough to make one comatosed.

Rating:
Summary: This book is a great Sleeping aid
Review: I was required to buy this book for a first year MBA course, and i found myself unable to stay awake for more than one page at a time. Not so much the author but the subject matter is enough to make one comatosed.

Rating:
Summary: A truly excellent book
Review: Ragsdale is a true master not only of spreadsheet modeling, but also of explaining complex things simple and understandable. More textbooks should have such a high quality.

Rating:
Summary: Solid text that really teaches decision analysis
Review: Since Lotus 1-2-3 burst onto the scene almost thirty years ago, spreadsheet software has been a vital tool in aiding business decision-making. There are many books offering instruction in learning to use a spreadsheet. Some books promise to teach business processes but end up delivering a course on basic spreadsheeting with only a passing nod to the business processes the student was expecting to learn.

This fine book actually delivers the goods. First and foremost, it is a solid text on decision analysis in business management. It teaches the student on how to model optimization problems and solve them using linear programming. It covers sensitivity analysis and the simplex method, network modeling, integer linear programming, goal programming and multiple objective optimization, non-linear programming and evolutionary optimization, regression analysis, discriminant analysis, time series forecasting, introduces simulation, queuing theory, project management, and concludes with a chapter devoted to decision analysis. This final chapter covers both probabilistic and non-probabilistic methods, the expected value of imperfect information, decision trees, analyzing risk in a decision tree, computing conditional probabilities, and finally, utility theory.

What is wonderfully useful about this book is that it teaches these important principles of business decision making by turning them into practical tools using Excel spreadsheets. It not only shows the reader (student) how to build the spreadsheet, it also does the important task of teaching the WHY of the tool, not just the how.

It is clearly written, is laid out logically, and comes across as supportive of the student trying to learn this material.

Included in this book are 2 CDs. Included are: an advanced Solver, a 140 day trial of the Crystal Ball software, which will limit your use of it to the term you first study the material, but won't be of use to you unless you buy the software. The same goes for the 120-day trial of Microsoft Project. It is great to be introduced to these tools, but once you have invested time learning them, you will need to make other investments to keep using them. This is OK with me; I just think you ought to know that up front.

I think this is a fine text and could be the foundation of a very useful course.

Rating:
Summary: Solid text that really teaches decision analysis
Review: Since Lotus 1-2-3 burst onto the scene almost thirty years ago, spreadsheet software has been a vital tool in aiding business decision-making. There are many books offering instruction in learning to use a spreadsheet. Some books promise to teach business processes but end up delivering a course on basic spreadsheeting with only a passing nod to the business processes the student was expecting to learn.

This fine book actually delivers the goods. First and foremost, it is a solid text on decision analysis in business management. It teaches the student on how to model optimization problems and solve them using linear programming. It covers sensitivity analysis and the simplex method, network modeling, integer linear programming, goal programming and multiple objective optimization, non-linear programming and evolutionary optimization, regression analysis, discriminant analysis, time series forecasting, introduces simulation, queuing theory, project management, and concludes with a chapter devoted to decision analysis. This final chapter covers both probabilistic and non-probabilistic methods, the expected value of imperfect information, decision trees, analyzing risk in a decision tree, computing conditional probabilities, and finally, utility theory.

What is wonderfully useful about this book is that it teaches these important principles of business decision making by turning them into practical tools using Excel spreadsheets. It not only shows the reader (student) how to build the spreadsheet, it also does the important task of teaching the WHY of the tool, not just the how.

It is clearly written, is laid out logically, and comes across as supportive of the student trying to learn this material.

Included in this book are 2 CDs. Included are: an advanced Solver, a 140 day trial of the Crystal Ball software, which will limit your use of it to the term you first study the material, but won't be of use to you unless you buy the software. The same goes for the 120-day trial of Microsoft Project. It is great to be introduced to these tools, but once you have invested time learning them, you will need to make other investments to keep using them. This is OK with me; I just think you ought to know that up front.

I think this is a fine text and could be the foundation of a very useful course.

Rating:
Summary: Best MBA Level Book on Optimization
Review: This book was a textbook for the required 1st year MBA operations research class at Berkeley. I waived the class, but bought the book anyway and still occasionally refer to it as needed. Ragsdale does an excellent job explaining how to setup and solve operations research problems in MS Excel.

Rating:
Summary: Well Written, Clear, and To The Point
Review: Yes, this book is expensive. Yes, the subject matter is rather dry. But if you don't expect dry subject matter, what are you doing in graduate school?

I have no natural talent in analysis, especially when that analysis involves mathematics. This book, while not making it particularly easy for me to understand modeling and decision analysis, certainly eased the process of learning to understand it. Ragsdale's writing style is direct and to-the-point. I had the additional advantage of taking this class from Dr. Ragsdale. His style of lecturing carries over to his style of writing. Each sentence logically follows the other, so the student doesn't easily drift or get lost.

Is this textbook an easy read? Not particularly. But it is for a graduate-level class, so easy reading should not be expected. Does this book promote understanding and learning? Absolutely.