Your strategy in a picture
DTace is an add-in that allows you to create and analyze decision trees in Excel. You can develop a detailed plan, and understand the potential risks and opportunities of your situation.
When used in conjunction with Simulation Master, you can replace discrete outcomes with a probability distribution and use Monte Carlo simulation to get a more complete risk profile.
DTace features a simple form based user interface. It also allows for easy sharing since it resides within the Excel environment.
DTace runs 100% inside Excel in an environment with which you are already comfortable. All tree elements, reports and charts are Excel native objects allowing you to edit them for communication with colleagues.
Building and Analyzing a Decision Tree
Create a New Tree DTace creates a new worksheet that is formatted for a DTace decision tree.
Add Nodes Add nodes to the decision tree by using the add node form. Depending on the node type, a node name, probability and value is entered. You can easily edit nodes later. There are three node types: decision, chance, and end nodes.
A decision node is represented by a square, and denotes a point in the tree where a decision is made. A chance node is represented by a circle, and denotes a branching of the tree where two or more outcomes are possible with each outcome having a probability. When using Monte Carlo simulation, one outcome of a chance node is possible since all probabilities are covered by the probability distribution associated with the outcome. An end node is represented by a triangle, and denotes the end of a path through the decision tree.
Roll Back Once the decision tree nodes have been added, roll back the tree to calculate the expected monetary value, expected utility or certainty equivalent of the root node. Using the "choose maximum" or "choose minimum" decision rules, you can rollback so the maximum value or minimum value is chosen at each decision node.
Sensitivity Analysis DTace has a sensitivity analysis tool to vary payoffs and probabilities to find what factors have the most impact on expected value or utility. You set the amount of change as a percentage of the base case values, and the software automatically generates a tornado chart showing sensitivity. All reports and charts are native to Excel so you can easily change formatting to meet your needs.
Want to Learn More?
Explore the features of DTace in detail.
Try it for Free
Download a trial version for free. The DTace trial version has all the functionality of the full version except that it is limited to 7 nodes. There is no time limit on the trial version.
If you don't see it, check your downloads folder.
Ready to Buy?
- $199 for single user permanent license.
- You can immediately download DTace to get started right away.
- Includes one year of product support. For support, visit the support page.
- Includes one year of product updates.
- Volume discounts available.
- You will be directed to our reseller FastSpring for secure check-out.
- Please send RFQs to email@example.com.
Vortarus products are used worldwide.
Excel: 2007 to 2019, Office 365 desktop. 32 and 64 bit versions.
Windows: Vista to Windows 10. 32 and 64 bit versions.
Excel for Mac not supported at this time.
Excel is a registered trademark of Microsoft Corporation. Used with permission from Microsoft.