A Study On Analytica Education Essay

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Analytica is a decision support system tools that creates, analyze and communicate decision models by using visual tools to deliver models to end users as web application or custom graphical user interface. As a result using this will give following advantages:

  • Facilitate thinking and communicate clearly with colleagues and clients.
  • Create and manage multidimensional tables with an ease and increase reliability.
  • Evaluate risk and uncertainty, and find out what variables really matter and why.

Analytica can be easily installed with the familiar operating systems like windows XP, VISTA, Seven Series, Mac OS etc. The developers of Analytica offer various types of versions for various users. The details of various versions are given below:

Analytica Player

In this version users can browse a model, view diagrams and variables, insert inputs, and compute results. But users can not create new models, make changes, or save them.

Analytica Power Player

This version is just like standard player version having some extra options as save changes and use Enterprise features, including accessing databases, Huge Arrays, and add the Optimizer.

Analytica Professional

Offers full analytical function, including the ability to create, edit, and save models, except for features specific to the Enterprise Edition.

Analytica Enterprise

Offers all the functionality of Analytica Professional, plus the ODBC library to read and write to databases, Huge Arrays (indexes up to 100 million elements), Time profiling to see computational effort by variable, creation of Browse-only models, and encrypting confidential model elements. (http://www.lumina.com/ana/editiondescriptions.htm)

Analytica Optimizer

The Analytica Optimizer contains all Enterprise features and finds optimal decision strategies with Analytica models. It provides a powerful state-of-the-art solver to discover the decisions that maximize expected value, minimize cost, or optimize any quantified objective that means efficient decision making. It offers linear programming (LP), quadratic programming (QP), and general non-linear programming (NLP).

You can run models created with Optimizer in Power Player or ADE, if you have or add the Optimizer extension to those Editions. (http://www.lumina.com/ana/editiondescriptions.htm)

Analytica Web Player (AWP)

AWP lets users interact with models via a web browser. It provides a similar user interface to Analytica Player with several enhancements. Users can view models including influence diagrams, change inputs, and view result tables and graphs. Users can log in and save their own versions of models. To create an AWP application, you create the model with Analytica on the desktop, and then upload it onto a server with a couple of clicks. AWP provides a way for users to share, review, and run models. It also lets you rapidly create analytic web applications harnessing the full power of Analytica. (http://www.lumina.com/ana/editiondescriptions.htm)

Analytica Decision Engine (ADE):

ADE runs Analytica models on a server computer. ADE provides an API (Application Programming Interface) through which other applications can access and run models. ADE supports all models created in Analytica Enterprise, including ODBC database access. ADE license includes two licenses, one for a public server and one for a development server. (http://www.lumina.com/ana/editiondescriptions.htm)

Features of Analytica:

Some common features of Analytica's versions are given below but all the features are not available on each version. Those may vary version to version.

  • Browse models, insert inputs, compute and view results
  • Save changes to models (not available in all versions)
  • Create new models and edit existing models
  • Hierarchical influence diagrams
  • Monte Carlo uncertainty analysis
  • Function libraries: Math, Array, Distributions, Statistical, Text
  • Advanced Function libraries: Advanced math, Financial, and Matrix
  • Graphing and OLE linking with Microsoft Excel
  • Create input and output forms
  • ODBC database access
  • Encrypt proprietary models
  • Huge Arrays™ - dimensions or sample size up to 100 million
  • Time Profiling showing computation time per variable
  • Available optimizer extension
  • Application Programming Interface (API) & server license

Developers of Analytica:

Analytica is developed by Lumina Decision Systems Incorporation of Los Gatos.

Business Benefits of Analytica:

Analytica offers various types of model making options, graphical representation options which are helpful to make effective and efficient decision making. These services make things clear and concrete to the management. Sometime text information cannot represent the actual condition. But graphical information is very much easy to understand. So Analytica is widely used in business arena. Different business organizations have got huge indirect financial benefit through using this software.

For example, one major automobile corporation has used Analytica to identify their key drivers to their costs to serve warranties, which resulting in savings of over $250 million per year.

Current Users

Potential Users

Comparison with Theory