Managing Excel Add-Ins

Managing Excel® add-ins is pretty easy once you get the hang of it.  We’ll cover the details of how to do this, and if you’re managing add-ins on a regular basis, we’ll show how to add shortcuts to the process. Overview We’ll start with how to open the add-ins management form.  This can be done …

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Class imbalance - scale image

Handling Class Imbalance

Often data sets have classes that are not equally represented.  This class imbalance can be a source of frustration when you realize the accuracy of your first attempt at training a machine learning model simply reflects the percentage of the most common class.  Fortunately Vaimal has features that allow you ways to overcome class imbalance …

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Machine Learning Overtraining

Overtraining is a concern that we must be aware of when training a machine learning model.  Vaimal allows several methods to reduce the potential for overtraining.  Before discussing how to prevent overtraining, lets see what overtraining looks like. Overtraining Training error is a function of the difference between predicted outcome and actual outcome for each …

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MLP Neural Network - PSO Training

Training Neural Networks with PSO

In this article we are going to discuss training neural networks using particle swarm optimization (PSO).  Training a neural network is an optimization problem so the optimization algorithm is of primary importance.  Vaimal has three types of neural networks available: Multi-layer perceptrons (MLP) Probabilistic neural networks (PNN) Generalized regression neural networks (GRNN) When training MLPs we …

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Evaluating an R&D Project with a Decision Tree

Decision trees are useful for projects that proceed in stages where investment decisions may change over time.  In this application brief, we will use decision tree analysis to evaluate a research and development project where we are uncertain if a commercial product can be produced as a result of the research portion of the project. …

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Exposing Project Schedule Risk Hidden in Best Estimates

When we try to estimate a project completion time, often the temptation is to use a best guess completion time for each task, find the critical path, and add up the times.  This method lacks information about the project schedule risk, and if done honestly, often results in a finish time later than the due …

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Manufacturing decision - factory floor

Evaluating a Manufacturing Decision with a Decision Tree

In this application brief we will look at a manufacturing decision to make a key sub-assembly of a product in-house or to outsource.  If it’s made in-house, we also will look at whether it should be assembled with highly automated process or a more labor intensive process. Therefore, we have three options in our manufacturing …

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Monte Carlo simulation in purchasing - components

Using Monte Carlo Simulation for Purchasing Decisions

Using Monte Carlo simulation for purchasing decisions can allow for overall cost reduction by selecting optimum order quantities.  In this article we will explore how to use simulation to minimize the total cost of a purchased component. When using purchased components, the purchase price is only part of the total cost.  Carrying cost also should …

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