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Financial modelling on microcomputers.
The Journal of the Operational Research Society
|March 12, 1983
Summary
This paper categorizes financial modeling software for microcomputers into visual spreadsheets, micro-based structured models, and hybrid micro-mainframe models. It details each type, weighing their advantages and disadvantages to guide users in selecting the best financial modeling package.
Area of Science:
- Computer Science
- Financial Technology
- Business Analytics
Background:
- Microcomputers have become integral to financial operations.
- The diversity of financial modeling software presents selection challenges.
- Previous categorizations may not fully address current microcomputer capabilities.
Purpose of the Study:
- To categorize existing financial modeling packages for microcomputers.
- To analyze the advantages and disadvantages of each software category.
- To provide a selection guide for users choosing financial modeling systems.
Main Methods:
- Classification of financial modeling software into three distinct types.
- Qualitative analysis of the pros and cons for each category.
- Development of a framework for system selection based on user needs.
Main Results:
- Identified three primary categories: visual spreadsheets, micro-based structured models, and hybrid micro-mainframe models.
- Detailed the specific benefits and drawbacks inherent in each category.
- Established criteria for evaluating and selecting appropriate financial modeling software.
Conclusions:
- The choice of financial modeling package depends on specific user requirements and integration needs.
- Understanding the distinct features of each category facilitates optimal software selection.
- This categorization aids businesses in making informed decisions regarding financial modeling tools.