Loreal
Discuss the advantages of developing models for a DSS with Planners Lab instead of traditional programming languages or spreadsheets?
Ans) The PL is easy to use and it provides easy visibility of all the formulas/logic, which is easy to modify. Also, the graphs and the effects of changes are easily seen in the PL software. The dashboard makes it easier to present the graphs and tables. Different types of graphs and charts can be produced just at the click of the mouse. The drag and drop feature is also very helpful. The built in formulas for financial ratios etc. make PL easier financial model building tool than Excel.
There are many benefits of implementing a model in the Planners Lab over implementing in a spreadsheet. Benefits of using a Tool such as The Planners Lab are that it is very convenient and you don’t have to set up multiple formulas multiple times. It has an easy to use UI that will allow you to drag and drop.
Advantages of the Planners Lab over a Spreadsheet model:
1) The programming language used in the Planners Lab is far easier and is very easy to understand.
2) The dashboard in the Planners Lab can be used to better explain and elaborate on a particular idea and to a large audience.
3) The model in the Planners Lab can be easily exported into a spreadsheet and vice versa. This flexibility enables us to view both the spreadsheet model and the Planners Lab animated dashboard model.
4) It is easier to implement Goal analysis and what if analysis in the Planners Lab than in a spreadsheet.
5) The Planners Lab models are far more organized and interpretable than a spreadsheet model which is can get very tedious as the number of variables keeps increasing.
6) In the Planners Lab we can construct models very easily by writing formulas in an English like language, which is very easily understandable. In the case of spreadsheets, we have to give cell references in order to set the equation which at times, when a model is very complex can be a
Ans) The PL is easy to use and it provides easy visibility of all the formulas/logic, which is easy to modify. Also, the graphs and the effects of changes are easily seen in the PL software. The dashboard makes it easier to present the graphs and tables. Different types of graphs and charts can be produced just at the click of the mouse. The drag and drop feature is also very helpful. The built in formulas for financial ratios etc. make PL easier financial model building tool than Excel.
There are many benefits of implementing a model in the Planners Lab over implementing in a spreadsheet. Benefits of using a Tool such as The Planners Lab are that it is very convenient and you don’t have to set up multiple formulas multiple times. It has an easy to use UI that will allow you to drag and drop.
Advantages of the Planners Lab over a Spreadsheet model:
1) The programming language used in the Planners Lab is far easier and is very easy to understand.
2) The dashboard in the Planners Lab can be used to better explain and elaborate on a particular idea and to a large audience.
3) The model in the Planners Lab can be easily exported into a spreadsheet and vice versa. This flexibility enables us to view both the spreadsheet model and the Planners Lab animated dashboard model.
4) It is easier to implement Goal analysis and what if analysis in the Planners Lab than in a spreadsheet.
5) The Planners Lab models are far more organized and interpretable than a spreadsheet model which is can get very tedious as the number of variables keeps increasing.
6) In the Planners Lab we can construct models very easily by writing formulas in an English like language, which is very easily understandable. In the case of spreadsheets, we have to give cell references in order to set the equation which at times, when a model is very complex can be a