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Practical Management Science (with Essential Textbook Resources Printed Access Card) [Hardcover]

Wayne L. Winston , S. Christian Albright
2.3 out of 5 stars  See all reviews (7 customer reviews)

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Book Description

May 5, 2011 1111531315 978-1111531317 4
Easy to understand and to the point, PRACTICAL MANAGEMENT SCIENCE uses an active-learning approach and realistic problems to help you understand and take advantage of the power of spreadsheet modeling. With real examples and problems drawn from finance, marketing, and operations research, you will easily come to see how management science applies to your chosen profession and how you can use it on the job. The authors emphasize modeling over algebraic formulations and memorization of particular models. The essentials resource website, whose access is available with every new book, includes links to the following add-ins: the Palisade Decision Tools Suite (@RISK, StatTools, PrecisionTree, TopRank, RISKOptimizer, NeuralTools, and Evolver); and SolverTable, which allows you to do sensitivity analysis. All of these add-ins have been revised for Excel 2010.

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Editorial Reviews

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 as well as a number of successful textbooks, including DATA ANALYSIS AND DECISION MAKING, DATA ANALYSIS FOR MANAGERS, and SPREADSHEET MODELING AND APPLICATIONS.

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Product Details

  • Hardcover: 936 pages
  • Publisher: Cengage Learning; 4 edition (May 5, 2011)
  • Language: English
  • ISBN-10: 1111531315
  • ISBN-13: 978-1111531317
  • Product Dimensions: 10.2 x 8.2 x 1.5 inches
  • Shipping Weight: 3.8 pounds (View shipping rates and policies)
  • Average Customer Review: 2.3 out of 5 stars  See all reviews (7 customer reviews)
  • Amazon Best Sellers Rank: #170,290 in Books (See Top 100 in Books)

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Customer Reviews

2.3 out of 5 stars
(7)
2.3 out of 5 stars
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Most Helpful Customer Reviews
8 of 8 people found the following review helpful
Format:Kindle Edition|Verified Purchase
I recently purchased the e-book version of Practical Management Science.

The product description states that:

“The essentials resource website, whose access is available with every new book, includes links to the following add-ins: the Palisade Decision Tools Suite (@RISK, StatTools, PrecisionTree, TopRank, RISKOptimizer, NeuralTools, and Evolver); and SolverTable, which allows you to do sensitivity analysis. All of these add-ins have been revised for Excel 2010.”
Not only did the kindle book not include access to these resources, it also did not include access to the multitude of .xlsx files around which all examples and instruction in the book is based. Without these files, the book’s examples are mostly worthless and it is impossible to follow along with the text.

I contacted Cengage customer service (1-800-354-9706) on April 16, 2013 to express my concerns and request access to the electronic resources. In my mind this was a very simple and straightforward request, requiring nothing more than a simple exchange of access-code information over the phone. After holding and talking with the representative for almost 30 minutes, the customer service representative informed me that there was nothing they could do and that it was not Cengage Learning’s fault that their Practical Management Science product (sold by them through Amazon) was dishonestly marketed. Instead, she recommended I return the version I already purchased and spent many hours annotating, to instead purchase the book through Cengage Learning’s website.

This resolution is unacceptable and dishonest. I recommend others look elsewhere for instructional textbooks as both Cengage Learning’s products and customer service are not acceptable.
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2 of 2 people found the following review helpful
Format:Hardcover|Verified Purchase
PRODUCT DID NOT HAVE ACCESS CODE AS MENTIONED IN DESCRIPTION. The product was urgently required and i had to pay extra on another site to get the book urgently
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1.0 out of 5 stars Waste of Money June 28, 2013
By Tyson
Format:Hardcover
This books is little more than a software manual for excel. I suggest finding another book on statistics or buy the international version.
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2 of 4 people found the following review helpful
Format:Hardcover|Verified Purchase
If you are looking for an advanced excel spreadsheet modeling book, then look no further. I thought I was fairly decent at Excel until I started to do problems in this book. They can be as hard as any college level computer science problems.

Excel, it turns out, is far more powerful than I thought and my knowledge of it was only at the tip of he iceberg of what it can do.

This book can humble you. This is not for those who only want to learn the basic Excel.

This book does NOT cover VB.net or C# Excel programming. It does, however, extensively cover solving real business problems using Excel Solver, Regression, and other analytical tools.

I highly recommend this for those who use Excel extensively at work and want to raise their own capabilities to a higher level by unleashing the power of Excel.

Pros:
1)Fantastic coverage of Excel features from the very basic to the very advanced.
2)Tons of relevant and DIFFICULT business problems with Excel sample solutions.
3)Downloadable Excel templates for exercises, problems, and cases.
4)Downloadable software such as StatsTools, PrecisionTree, TopRank, Evolver, and NeuralTools. The software comes with the new edition. The software, however, are not really necessary. They just make using Excel easier for statistical analysis such as advanced regression.

Cons:
1)Does not cover Excel programming using VB.net or C#. In fairness, that requires writing an another book. But a brief coverage of exactly what Excel can do when combined with .Net and RDBMS should've been included.
2)Assumes you already have fairly strong knowledge of statistics and regression for chapters involving regression.
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