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Practical Management Science: Spreadsheet Modeling and Applications (with CD-ROM Update), by Wayne L. Winston, S. Christian Albright
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In the Second Edition of their popular text, Wayne Winston and Chris Albright continue to build on their highly successful approach of teaching by example while using spreadsheets to model a wide variety of business problems. The authors show the relevance of topics through numerous examples of real-world implementation of management science. The ideal solution for people who want to teach by example and who want to solve real problems with spreadsheets and professional spreadsheet add-ins, this text is always interesting, in part due to the useful cases added to this edition.
- Sales Rank: #2585550 in Books
- Brand: Brand: South-Western College Pub
- Published on: 2004-05-26
- Original language: English
- Number of items: 1
- Dimensions: 10.00" h x 8.00" w x 2.25" l,
- Binding: Hardcover
- 953 pages
- Used Book in Good Condition
About the Author
Wayne L. Winston is Professor Emeritus of Decision Sciences at the Kelley School of Business at Indiana University and is now a Professor of Decision and Information Sciences at the Bauer College at the University of Houston. He has won more than 45 teaching awards, including the school-wide MBA award six times. His current interest is in showing how spreadsheet models can be used to solve business problems in all disciplines, particularly in finance, sports, and marketing. In addition to publishing more than 20 articles in leading journals, Dr. Winston has written such successful textbooks as OPERATIONS RESEARCH: APPLICATIONS AND ALGORITHMS, MATHEMATICAL PROGRAMMING: APPLICATIONS AND ALGORITHMS, SIMULATION MODELING WITH @RISK, DATA ANALYSIS FOR MANAGERS, SPREADSHEET MODELING AND APPLICATIONS, MATHLETICS, DATA ANALYSIS AND BUSINESS MODELING WITH EXCEL 2013, MARKETING ANALYTICS, and FINANCIAL MODELS USING SIMULATION AND OPTIMIZATION. He received his B.S. degree in mathematics from MIT and his Ph.D. in operations research from Yale.
S. Christian Albright received his B.S. degree in mathematics from Stanford in 1968 and his Ph.D. in operations research from Stanford in 1972. Since then, he has been teaching in the Operations and Decision Technologies Department in the Kelley School of Business at Indiana University. He has taught courses in management science, computer simulation, and statistics to all levels of business students: undergraduates, MBAs, and doctoral students. His current interest is in spreadsheet modeling, including development of VBA applications in Excel. Dr. Albright has published more than 20 articles in leading operations research journals in the area of applied probability. He has also published a number of successful textbooks, including DATA ANALYSIS AND DECISION MAKING, DATA ANALYSIS FOR MANAGERS, and SPREADSHEET MODELING AND APPLICATIONS.
Most helpful customer reviews
24 of 25 people found the following review helpful.
Not as good as the first edition
By Kirk S. Johnson
I own both editions where I belive the 1st edition is better than their second. I don't particular like their new approach in teaching network modeling; it's non-intuitive. The first edition was a bit more 'logical' and easier to set up than the approach use in their 2nd edition. Secondly, their use of the Palisade @Risk is definitely a good choice, but the time lock (1 year if registered online) somewhat deflates the enthusiasm knowing that at some future date your software will cease to work. I bought the @129 upgrade but jumped through hoops with palisades (their authorization code did not undo the time lock and tech support argued that it was a publisher issue--in the long run they discovered a problem with the software where it was not taking the time lock off the application as designed.) I do like the 2nd edition's choice of larger fonts and the broader examples. I am still yet disappointed that unlike many other quality text books, the text does not include answers to 'odd' or even selected problems. I don't think the authors realize that their text is used by professionals looking to develop workplace skills and are not necessarily enrolled in a formal academic setting. Nevertheless, I bought the second edition because I think management science is a terribly valuable skill to have and that the authors have published the best book in the area of MS.
5 of 5 people found the following review helpful.
Master Modeling employing Excel
By Flavio Cipparrone
This book focuses on several management science modeling problems and explains clearly how to implement them with Excel.
Winston teaches you how to employ standards (colors, borders, etc) to make your spreadsheet more professional. You will learn much about Excel even if you are not interested in management science models.
Contrary to Optimization and Operations Research books, it does not worry about algorithm details, being directed mainly to develop the student modeling skills.
Then, if your goal is to find a text that contains excel-based ways of solving managerial problems, and you are not concerned with solver details (simplex method, transport algorithms, nonlinear programming algorithms, interior point methods) this book is for you.
Another information: Chris Albright has a Modeling book directed to people that want to learn how to use VBA in modeling, that is, if you are a "want to be advanced" Excel user. He says that his VBA book is the natural next step to "Practical Management Science".
8 of 10 people found the following review helpful.
Very Pleased
By A_typical_consumer
I am a business unit manager who frequently purchases books and software to maintain my level of competence in operations management, and I recently purchased the second edition of this book, copyright 2001. I have found it to be a great value, and agree with the reviewers the earlier edition who found it to be a very fine text on Operations Research. It comes with the standard version of Palisade's Decision Tools software, which is just outstanding. I wouldn't hesitate to recommend this book to anyone. Additionally, there's an option to upgrade to a fully licensed edition of this software at a greatly reduced price; the student version that comes with the book is fully functional, but is only licensed one year for students, 30 days for professionals. Microsoft doesn't give their software away for free either.
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