Mathematical or Statistical Software

Simulation Modeling Software

Add up columns of numbers, Recommended such as in most accounting tasks

Calculate discounts, simple Recommended (for Recommended (for multiplication and division of one- or two-period multiple-period multiple numbers analyses) analyses)

Test out various specifications of a model, given the data

Project variables many periods into the future

Considering multiple scenarios, given a model with interaction among variables and changes in a handful of variables

Recommended, especially if statistical inference is required

Recommended (for simple models)

Possible use, especially when specification is complicated

Recommended (for simple and complex models)

Recommended century, location is an essential—and sometimes primary—element of many problems in business economics.

We describe explicitly the use of GIS in this book in a few instances. However, for many other applications, we incorporate spatial analysis without explicitly describing the use of GIS. We encourage the reader to consider how detailed information on location, distance, proximity, and other spatial characteristics affect the analysis. In many cases, GIS can assist the user in quantifying the effects of these variables.

Similarly, we describe the importance and acquisition of data in several sections of this book. For many users, relational databases will be of great use in storing and retrieving the data. For others, the time and expense necessary to use such software will be prohibitive, and other methods will be more than adequate.

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