Decision Trees in excel

[Dani]

Help! How do I make decision trees in Excel? I know
it's possible but can't find it anywhere. Thanks...

 

[Homer]

That's not much info to work with, so you get a very generic answer:

=IF(condition,result if true, result if false)

condition can be something like A1<50
result can be a value or a formula (including another IF() function)

I hope this helps. Post specifics with your questions, and you will get
better answers.

 

[Earl Kiosterud]

Dani,

If you mean a flowchart, you can make decision boxes, instruction boxes,
etc. using the Drawing Toolbar, Autoshapes - Basic shapes. There's a
diamond in there for decisions (yes/no questions, this/that questions, etc.)
and rectangles for instructions (do this, do that). Then you can connect
them with Autoshapes, Connectors. Then when you move the boxes around, they
stay connected.

Earl Kiosterud
mvpearl omitthisword at verizon period net

 

[Dani]

Thank you to both for your help - sorry for being non-
specific. I thought there was a way to set up decision
trees in excel other than creating them line by line by
yourself. I'll combine both of yours- thanks!

 

[Kevin Stecyk]

Dani,

Depending on your sophistication needs, I can point to you to a few
commercial products.

To do complex decision trees on Excel without having a strong programming
background will be very difficult. And that is being generous.

If you have only 2 or 3 branches, then you just need to figure out your
logic.

But if you are after the value of imperfect information and topics of that
sort, then you will need something more robust.

After that long introduction, I will provide you with some links:

1) Merak (now part of Schlumberger) makes an excellent product (I have used
it) as part of their decision toolkit. I linked their program into Excel
and was able to evaluate a complex offshore oil project. It might not be
the strongest in terms of features, but it very easy to use.

http://www.sis.slb.com/content/software/valuerisk/software_decisiontoolkit.asp

2) I have worked with SDG (Strategic Decisions Group) many years ago, and
they had software that was quite good. I am not sure if they still have a
and support a software package. I saw reference to it during my web
browsing, it is expensive but very, very good. I have used this applicated
called SuperTree.

http://www.sdg.com/home.nsf/sdg/home

I suggest you call or e-mail and inquire.

3) DPL is purported to be a very strong decision analysis package that
interacts with Excel, though I have never used it so I can't comment on it
directly.

http://www.adainc.com/software/index.html

4) Look at Palisade's Precision Tree product. I am aware of this product
but have not used it.

http://www.palisade.com/html/ptree.asp

~~~~~~~~~~~~~~~
The above mentioned commercial applications are some of the better known
commercial applications. It is not an exhaustive list.

5) Various others...you can google for Excel Decision Tree and get some
options.

Here is one very moderately priced ($29) option for you....
http://www.treeplan.com/

Now that I have browsed the Internet...here is a site that summarizes what I
have been busily typing.

http://faculty.fuqua.duke.edu/daweb/dasw6.htm


Well, I have provided you with lots of references.

Good luck.

Regards,
Kevin