A New Statistics and Forecasting Toolset for your Spreadsheet
Have you ever needed forecasting, regression, quality control charts, or other statistical analyses beyond the basics that are provided with Excel? Have you ever doubted the accuracy of some of Excel’s statistical results? StatTools addresses both of these issues, providing a new, powerful statistics toolset to Excel.
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Pretoria, South Africa
StatTools covers the most commonly used statistical procedures, and offers unprecedented capabilities for adding new, custom analyses. StatTools replaces Excel’s builtin statistics functions with its own calculations. The accuracy of Excel’s builtin statistics calculations has often been questioned, so StatTools doesn’t use them. All StatTools functions are true Excel functions, and behave exactly as native Excel functions do. Over 30 wideranging statistical procedures plus 9 builtin data utilities include forecasts, time series, descriptive statistics, normality tests, group comparisons, correlation, regression analysis, quality control, nonparametric tests, and more.
StatTools features live, "hotlinked" statistics calculations. Change a value in your dataset and your statistics report automatically updates. There is no need to manually rerun your analyses.
Learn how to get started quickly in StatTools
Watch videos of StatTools features
New in Version 7 – New Analyses, Improved Regression, @RISK Data Viewer
StatTools 7 adds new statistical analyses, streamlines regression processes, and now gives you the ability to view any data set using the same interactive charting engine found in @RISK!
» Learn more about What’s New in DecisionTools Suite 7
KruskalWallis Test
This nonparametric test comparing three or more populations has been added in response to customer demand.
Data Viewer
This allows you to view any Excel data set with the same charting engine used to create @RISK graphs and tables. The Data Viewer can pull from any data source  no simulation needs to be run. With an easytouse, intuitive interface, users can simply select any variable to instantly create graphs with Palisade’s amazing graphing engine—which can then be manipulated, customized, and used for reporting and sharing. You can create histograms, cumulative charts, trend plots, box plots, and more.
The Data Viewer Summary View, showing thumbnail histograms that can be dragged off for further analysis.
Cluster Analysis
Groups similar items within your data, so that items in the same group are more similar than to those in other groups. This helps the user highlight and quantify differences between data points.
A Dendrogram is part of the Cluster Analysis report; it shows the steps of the process of grouping items based on the degree of similarity.
Principal Component Analysis
Takes large datasets and reduces the dimensionality, eliminating unimportant details while highlighting strong patterns within the data.
The Principal Component Analysis report includes a Score Plot, which represents the input multidimensional data in two dimensions (with optional colorcoding based on a categorical variable).
Upgraded Regressions
Setting up dummy variables and other manual processes are a thing of the past. Now, you can perform complex regressions in just a single click.
Categorical Bar Charts
New, eyecatching bar chart graphs for categorical variables provide a convenient method for showcasing your results.
This Bar Chart shows multiple categorical variables at a glance.
How StatTools Works
First, you define your data in StatTools. Then, you perform any of over 30 different types of analysis on your data set, depending on your situation.
StatTools provides a comprehensive and intuitive data set and variable manager right in Excel. You can define any number of data sets, each with the variables you want to analyze, directly from your data in Excel. StatTools intelligently assesses your blocks of data, suggesting variable names and locations for you. Your data sets and variables can reside in different workbooks, allowing you to organize your data as you see fit. Run statistical analyses that refer to your variables, instead of reselecting your data over and over again in Excel. StatTools fully supports the expanded worksheet size in Excel 20072010. Plus, you can define variables that span multiple worksheets.
Once your data sets have been defined, choose a procedure from the StatTools menu or write your own, custom procedure. To write your own, StatTools includes a complete, objectoriented, programming interface—the Excel Developer Kit (XDK). Custom statistical procedures may be added using Excel's builtin VBA programming language, which allows you to utilize StatTools's builtin data management, charting and reporting tools.
StatTools Analyses
The statistical procedures available in StatTools come in the following natural groups.
Statistical Inference: This group performs the most common statistical inference procedures of confidence intervals and hypothesis tests.
Forecasting: StatTools gives you several methods for forecasting a time series variable. You can also deseasonalize the data first, using the ratiotomovingaverages method and a multiplicative seasonality model. Then use a forecasting method to forecast your deseasonalized data, and finally “reseasonalize” the forecasts to return to original units.
The outputs include a set of new columns to show the various calculations (for example, the smoothed levels and trends for Holt’s method, the seasonal factors from the ratiotomovingaverages method, and so on), the forecasts, and the forecast errors. Summary measures such as MAE, RMSE and MAPE are also included for tracking the fit of the model to the observed data. Finally, several time series plots are available, including a plot of the original series, a plot of the series with forecasts superimposed, and a plot of the forecast errors. In cases using deseasonalized data, these plots are available for the original and deseasonalized series.
Classification Analysis: StatTools provides both discriminant analysis and logistic regression. Discriminant analysis predicts which of several groups a variable will fall in, and logistic regression is a nonlinear type of regression analysis where the response variable is 0 or 1 for “failure” or “success.” You can then estimate the probability of success.
Data Management: This group allows you to manipulate your data set in various ways, either by rearranging the data or by creating new variables. These operations are typically performed before running a statistical analysis.
Summary Analyses: This group allows you to calculate several numerical summary measures for single variables or pairs of variables.
Tests for Normality: Because so many statistical procedures assume that a set of data are normally distributed, it is useful to have methods for checking this assumption. StatTools provides three commonly used checks: Chisquare, Lilliefors, and QQ plot.
Regression Analysis: For each of these analyses, the following outputs are given: summary measures of each regression equation run, an ANOVA table for each regression, and a table of estimated regression coefficients and other statistics. In addition, StatTools gives you the option of creating two new variables: the fitted values and residuals. Plus, you can create a number of diagnostic scatterplots.
Quality Control Charts: This set of procedures produces control charts that allow you to see whether a process is in statistical control. Each of the procedures takes time series data and plots them in a control chart. This allows you to see whether the data stay within the control limits on the chart. You can also tell if other nonrandom behavior is present, such as long runs above or below the centerline. Each of these procedures provides the option of using all the data or only part of the data for constructing the chart. Furthermore, each lets you base the control limits on the given data or on limits from previous data.
Nonparametric Tests: Nonparametric tests are statistical procedures which can be used to make successful inferences when there is little available data. They are more robust than many of the widely known parametric hypothesis tests. Nonparametric tests do not always need the parametric assumptions—such as normality—or generalized assumptions regarding the underlying distribution. In most cases, the nonparametric tests are much easier to apply and provide clearer interpretation than traditional parametric tests.
Excel Ease of Use
StatTools is a true addin to Microsoft Excel, integrating completely with your spreadsheet. Browse, define, analyze – while never leaving Excel. StatTools replaces Excel’s builtin statistics functions with its own calculations. All StatTools functions are true Excel functions, and behave exactly as native Excel functions do. StatTools calculations are optimized through the use of C++ .DLLs, not macro calculations.
Two Editions to Meet Your Needs
StatTools comes in Professional and Industrial editions. The Industrial edition of StatTools adds Expanded Data Sets. With Expanded Data Sets, you can define variables that span multiple worksheets. The Professional edition allows 10,000 data points for a single variable.
I applaud StatTools' powerful statistical analysis. The mathematics in Excel leave something to be desired. Long ago I rewrote Excel's statistical functions as addin macros due to the lack of precision within Excel. After testing a few of my favorite handwritten algorithms (Tinv, NormSdist, Normdist, Norminv, Binomdist, to name a few) against the ones you've included withthe package, our numbers agree to the last digit! At last, someone takes the initiative! Thank you! Gregory E. Cenker Southern California Edison Part of the DecisionTools Suite StatTools is available by itself or as part of the DecisionTools Suite, Palisade’s complete risk and decision analysis toolkit. The DecisionTools Suite includes @RISK for risk analysis with Monte Carlo simulation, NeuralTools for predictions using neural networks, Evolver for optimization, PrecisionTree for decision trees, and more. StatTools is fully compatible with all DecisionTools programs and can be combined with them for greater insight and analysis. For example: StatTools and @RISK then RISKOptimizerCombine StatTools with @RISK to assess confidence intervals on simulation results. You can also apply @RISK functions to StatTools timeseries forecast results to simulate possible outcomes with more precision than the timesseries analysis alone. Run RISKOptimizer on your model using the same @RISK functions in order to find the best combination of factors to maximize your forecasted profits. Watch how StatTools and @RISK work together » More about The DecisionTools Suite Save Over 50% When You Buy the Suite 100% Excel StatTools calculations are performed 100% within Excel,supported by Palisade sampling and statistics proven inover twenty years of use. Palisade does not attempt to rewrite Excel in an external recalculator to gain speed. Asingle recalculation from an unsupported or poorly reproduced macro or function can dramatically change your results. Where will it occur, and when? Get accurate results using StatTools! COMPATIBILITY: @RISK and DecisionTools Suite software is compatible with all 32bit and 64bit versions of Microsoft Windows XP10, Excel 20072013, and Project 20072013. 64bit Compatible
