Praise for Modeling for Insight"Most books on modeling are either too theoretical or toofocused on the mechanics of programming. Powell and Batt's emphasison using simple spreadsheet models to gain business insight (whichis, after all, the name of the game) is what makes this book standhead and shoulders above the rest. This clear and practical bookdeserves a place on the shelf of every business analyst."--Jonathan Koomey, PhD, Lawrence Berkeley National Laboratoryand Stanford University, author of Turning Numbers intoKnowledge: Mastering the Art of Problem SolvingMost business analysts are familiar with using spreadsheets toorganize data and build routine models. However, analysts oftenstruggle when faced with examining new and ill-structured problems.Modeling for Insight is a one-of-a-kind guide to buildingeffective spreadsheet models and using them to generate insights.With its hands-on approach, this book provides readers with aneffective modeling process and specific modeling tools to become amaster modeler.The authors provide a structured approach to problem-solvingusing four main steps: frame the problem, diagram the problem,build a model, and generate insights. Extensive examples, graduatedin difficulty, help readers to internalize this modeling process,while also demonstrating the application of important modelingtools, including:* Influence diagrams* Spreadsheet engineering* Parameterization* Sensitivity analysis* Strategy analysis* Iterative modelingThe real-world examples found in the book are drawn from a widerange of fields such as financial planning, insurance,pharmaceuticals, advertising, and manufacturing. Each chapterconcludes with a discussion on how to use the insights drawn fromthese models to create an effective business presentation.Microsoft Office Excel and PowerPoint are used throughout the book,along with the add-ins Premium Solver, Crystal Ball, andSensitivity Toolkit. Detailed appendices guide readers through theuse of these software packages, and the spreadsheet modelsdiscussed in the book are available to download via the book'srelated Web site. Modeling for Insight is an ideal book forcourses in engineering, operations research, and management scienceat the upper-undergraduate and graduate levels. It is also avaluable resource for consultants and business analysts who oftenuse spreadsheets to better understand complex problems.