Crystal Ball software is statistical data analysis software package used by business for a variety of purposes. Crystal Ball software application can be classified into the following areas: business, sales or financial forecasting, predictive modeling, Monte Carlo simulation and optimization.

Most MBA programs teach the application of Crystal Ball software in their statistics, operations research or even the finance programs. According to the Crystal Ball software’s web site the Crystal Ball software package is used in over 800 universities and schools worldwide for teaching risk analysis concepts. It also states “With over 4,000 customers worldwide, including 85% of the Fortune 500, Crystal Ball software is used by customers from a broad range of industries, such as aerospace, financial services, manufacturing, oil and gas, pharmaceutical and utilities.” This gives students who have a good understanding of simulation using Crystal Ball software an edge over others who do not.

Crystal Ball software applications include valuation, engineering, financial risk analysis, Six Sigma, cost estimation, portfolio allocation, and project management.

Graduate Tutor's Statistics Tutor Group is well equipped to tutor you in the use of the Crystal Ball Software for simulation. The Statistics Tutor Group will work with you online and teach you the underlying concepts that enable simulation using the Crystal Ball software. Apply the Crystal Ball simulation techniques on sample data from a wide variety of industries to consolidate and reinforce what you learn. See a sample of the Crystal Ball simulation topics, methods and tools you can learn with Graduate Tutor's Statistics Tutor Group below. Please email us if you do not find what a simulation topic you are looking for and we will be happy to assist you in finding what you need.

Random Variables and Risk

Why Analyze Risk?

Methods of Risk Analysis

Best-Case/Worst-Case Analysis

What-If Analysis

Simulation

A Corporate Health Insurance Example

A Critique of the Base Case Mode

Spreadsheet Simulation Using Crystal Ball

Starting Crystal Ball

Random Number Generators

Discrete vs. Continuous Random Variables

Preparing the Model for Simulation

Defining Assumptions for the Number of Covered Employees

Defining Assumptions for the Average Monthly Claim per Employee

Defining Assumptions for the Average Monthly Claim per Employee

Running the Simulation

Selecting the Output Cells to Track

Selecting the Number of Iterations

Determining the Sample Size

Running the Crystal Ball Software Simulation

Data Analysis

The Best Case and the Worst Case

The Distribution of the Output Cell in the Crystal Ball Software output

Viewing the Cumulative Distribution of the Crystal Ball Software Output Cells

Obtaining Other Cumulative Probabilities using Crystal Ball Software

Incorporating Graphs and Statistics into a Spreadsheet

The Uncertainty of Sampling when using Crystal Ball Software

Constructing a Confidence Interval for the True Population Mean

Constructing a Confidence Interval for a Population Proportion

Sample Sizes and Confidence Interval Widths

The Benefits of Simulation using Crystal Ball Software

Additional Uses of Simulation using Crystal Ball Software

A Reservation Management example using Crystal Ball Software

Implementing the Mode using Crystal Ball Software

Using the Decision Table Tool

An Inventory Control Example using Crystal Ball Software

Implementing the Mode using Crystal Ball Software

Replicating the Mode using Crystal Ball Software

Optimizing the Mode using Crystal Ball Software

Comparing the Original and Optimal Ordering Policies

A Project Selection Example using Crystal Ball Software

A Spreadsheet Model

Solving the Problem with OptQuest

Considering Other Solutions

A Portfolio Optimization. Example

A Spreadsheet Mode

Solving the Problem with OptQuest

Other operations research and statistics topics that Graduate Tutor's Statistics Tutor Group tutor include:

Simple Linear Regression

Multiple Linear Regression

Discriminant Analysis

Time Series Forecasting

Spreadsheet Modeling

Financial Modeling using Microsoft Excel