Category: Business Analysis

“Requirements engineering” was supposed to ensure that development teams delivered applications that users wanted. That didn’t happen (as the process of requirements engineering itself demonstrated). The answer to giving users what they want turns out to be getting rid of requirements altogether. Requirements exist because everyone recognizes that users aren’t developers. On that understanding, requirements […]

Business Enterprises Business enterprises, irrespective of their location, size, industry or form i.e., brick and mortar or virtual, all define their vision, goals and objectives that they aspire to achieve. To achieve these, business enterprises create and deliver value to their respective customers in the form of products, services or both. Resources and Capabilities To create, […]

A mathematician friend of mine worked for the Navy on calculations involving the movement of sound waves through water. It’s a difficult problem, since the speed of sound varies with temperature and salinity. Being a mathematician to the core, he always wanted the exact answer. At times the Navy had to shake him by the […]

Monte Carlo Methods in Excel: Part 3 – Some Helpful Tricks Andea S. , a student in Learning Tree’s course Power Excel: Analyzing Data to Make Business Decisions, expressed dismay about a problem at work. When she attempted to plot the results of her Monte Carlo inventory and production model, her entire set of model […]

Monte Carlo Methods in Excel: Part 2 – Random Numbers All Monte Carlo methods rely on a source of random numbers. Most such sources would more precisely be called pseudorandom numbers, since a deterministic algorithm cannot, by definition, ever produce truly random numbers. If you Google “random numbers” you will encounter a daunting list of […]