Statistical Analysis for Excel
StatTools gives the industry-standard data analysis tool - Microsoft Excel - a new, powerful statistics toolset! StatTools is a Microsoft Excel statistics add-in, so you analyse data in Excel and work in the familiar Microsoft Office environment. StatTools brings you the best of two worlds: Microsoft Office ease-of-use, and robust statistical power. Plus, StatTools is developed by Palisade Corporation, the world leader in analytical solutions that add-in to Microsoft Excel.
StatTools provides detailed reports and graphs on analysis results, directly in Excel! Click to view larger graphic.
Robust Statistics Inside Excel
StatTools replaces Excel's built-in statistics with its own calculations. The accuracy of Excel's built-in statistics calculations has often been questioned, so StatTools doesn’t use them! Even Excel's worksheet statistics functions - such as AVERAGE - are replaced by new, robust StatTools versions - such as StatMean(). StatTools calculations meet the highest tests for accuracy, with performance optimised through the use of C++ .DLLs, not macro calculations.
|"I applaud StatTools' powerful statistical analysis. The mathematics
in Excel leave something to be desired. Long ago I re-wrote Excel's statistical
functions as add-in macros due to the lack of precision within Excel. After testing
a few of my favorite hand-written algorithms (Tinv, NormSdist, Normdist, Norminv,
Binomdist, to name a few) against the ones you've included with the package,
our numbers agree to the last digit! At last, someone takes the initiative! Thank
Gregory E. Cenker, Southern California Edison
Work Where You're Comfortable
If you know Excel, you'll know StatTools! StatTools works just as Excel does, with toolbars, menus and custom worksheet functions, all inside of Excel. Unlike stand-alone statistics software, you’ll get up to speed quickly – and cheaply – by not having to learn a new interface. With StatTools, you work where you are comfortable - in Excel. Your data and variables are in Excel spreadsheets. With StatTools, you don’t have to sacrifice any of Excel’s flexibility or features to perform powerful statistical analysis.
The Analyses You Need
StatTools covers the most commonly used statistical procedures, and offers unprecedented capabilities for adding new, custom analyses. A total of 36 wide-ranging statistical procedures plus 5 built-in data utilities include descriptive statistics, normality tests, group comparisons, correlation, regression analysis, quality control, forecasts and more. Add to this a library of custom procedures (written by experts in the field) and you've got a comprehensive and customisable statistics toolset, right inside Excel!
StatTools features live, "hot-linked" statistics calculations! Change a value in your dataset and your statistics report automatically updates. No need to manually re-run your analyses. StatTools uses a powerful set of custom worksheet functions to insure that the statistics displayed in your reports are always up-to-date with your current data.
StatTools' integrated data set manager makes it easy to define your variables. Click to view larger graphic.
The Best in Data Management
StatTools provides a comprehensive dataset and variable manager right in Excel, just as you would expect from a stand-alone statistics package. You can define any number of datasets, each with the variables you want to analyse, directly from your data in Excel. StatTools intelligently assesses your blocks of data, suggesting variable names and data locations for you. Your datasets and variables can reside in different workbooks and worksheets, allowing you to organise your data as you see fit. You run statistical analyses that refer to your variables, instead of re-selecting your data over and over again in Excel. And StatTools variables aren't limited in size to a single column of data in an Excel worksheet. You can define a variable that spans multiple worksheets, allowing up to 65,535 X 255 cells, or over 16 million cases for a variable in StatTools Pro!
The Best of Excel
As an Excel add-in, StatTools takes full advantages of Excel's flexibility, especially in the following areas.
Excel is great for reports and graphs, and StatTools makes the most of this when creating your statistics reports. StatTools uses Excel-format graphs, which can be easily customised with new colours, fonts and added text. Report titles, number formats and text can be changed as you do in Excel. You can even take your reports from Excel into other applications.
StatTools takes advantage of Excel’s ability to import data from a variety of sources. Databases, text files, word processors – wherever your data resides, if you can read it into Excel, you can use it with StatTools!
StatTools saves all its results and data in Excel workbooks, so you can send your StatTools results and data to anyone with Excel!
|"Working with StatTools is a breeze. Procedures are robust and powerful,
and the ability to work in Excel makes the learning curve very short. The ability
to write your own custom procedures sets StatTools apart from other stats packages."
S. Christian Albright, Kelley School of Business, Indiana University
StatTools graphs and reports allow full customisation and are portable to other applications. Click to view larger graphic.
StatTools Pro includes a complete, object-oriented, programming interface. Custom statistical procedures may be added using Excel's built-in VBA programming language. Utilise StatTools's built-in data management, charting and reporting tools. Your custom procedures can even be displayed on the StatTools menu for easy access!
StatTools Pro adds great value even if you're not going to write your own statistical procedures! Use custom procedures that are written by others, right from the standard StatTools menu! The library of new, custom procedures that are built with StatTools is constantly being expanded by experts in the field. Simply copy a workbook with a new procedure into your StatTools directory and it instantly shows up on the StatTools menu. Run it and you'll see all the standard StatTools data management tools, combined with the new statistical analysis you need!
The Professional version also lets you define variables that span multiple worksheets, allowing up to 65,535 X 255 cells, or over 16 million cases for a single variable! The Standard version allows 10,000 data points for a single variable.
StatTools – Built on a History of the Best in Add-in
StatTools from Palisade is a new version of the widely used StatPro add-in developed by Dr. S. Christian Albright, Professor of Decision Sciences at the Kelley School of Business at Indiana University. This earlier version has been used by over 40,000 MBA and undergraduate students a year, in a variety of textbooks from Duxbury Press. The Palisade version of StatTools will be provided to this academic market by Duxbury, offering students a commercial statistics product they can learn and later utilise in their professional careers.
StatTools is a product of Palisade Corporation, the leader in decision and risk analysis add-in tools for Microsoft Excel. Palisade's products include the world’s most popular risk and decision analysis packages, @RISK and the DecisionTools Suite. Rounding out the product line are the cutting-edge optimisers RISKOptimizer and Evolver, along with programming toolkits which utilise Monte Carlo simulation, optimisation and other techniques.
|"I enjoyed the look and feel of the software. I was delighted to have
a statistics tool working along with Excel."
Newton Gichuru, Kennesaw State University
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 deseasonalise the data first, using the ratio-to-moving-averages method and a multiplicative seasonality model. Then use a forecasting method to forecast your deseasonalised data, and finally “reseasonalise” 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 ratio-to-moving-averages 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 deseasonalised data, these plots are available for the original and deseasonalised 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: Chi-square, Lilliefors, and Q-Q 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 behaviour 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.
Summary of StatTools Analyses
Summary Analyses and Graphs
LEARNING STATISTICS WITH STATTOOLS
StatTools System Requirements:
Minimum Platform: IBM PC compatible Pentium-equivalent or higher, Microsoft Windows 98 or higher; Excel 97 SR1 or higher. (StatTools will not run with Excel 97 SR0.); 16MB RAM free.
Recommended: 32 MB RAM installed.
Technical Support: 30 days free. Further support available through Maintenance Plan.
Demo: Web download and free demo CD with trial version available.
Recommended Books: Learning Statistics with StatTools; Making Hard Decisions with DecisionTools; Managerial Statistics; Practical Management Science; Data Analysis and Decision Making