Decision Making with Insight

by Sam L. Savage

Dr. Sam Savage, who's recognized as a leading innovator in management science education, provides the most hands-on , practical introduction to methods of decision making. This book and accompanying suite of Excel add-ins for quantitative analysis covers Monte Carlo simulation, decision trees, queuing simulations, optimization, Markov chains, and forecasting. The Insight add-ins have been developed over several years by the author.

360 pages, Paperback

First published January 1, 2003

About the author

Sam L. Savage is a Consulting Professor of Management Science and Engineering at Stanford University, and a Fellow of the Judge Business School at the University of Cambridge.

Reviews

[Adam Kecskes · Rating 1 out of 5]

Along with Flaw of Averages, this book was recommended by a respected ex-boss of mine.

I won't be taking my ex-boss's advice on book to read anymore. It was less a book about decision making and more a book about trying to make Excel do tricks. Are some of those tricks useful?

Absolutely!

But not the way that Savage presents them. I looked into it learn something more about Monte Carlo simulations for example, but what he presents in the book was too convoluted, at least for me. I ended up finding other ways of setting up MC sims in a spreadsheets that were much more clear and easier to setup and manipulate.

Don't bother with this; again, like with my review of Flaw of Averages, you can find better content on the Internet. I want my books to give me insight that can't be found elsewhere; this doesn't do it.

[Mike Backeberg · Rating 5 out of 5]

A great way to think about statistics and how to make an informed decision quickly.