"We are in the Age of Analystics" According to The Cistek Group's Tom Cissell

San Francisco , CA -- May 4, 2006 -- Tom Cissell, president of The Cistek Group LLC, spoke at the Professional Society's 17th Annual Spring Conference, today that was be held at the The Palace Hotel located in San Francisco, CA. Tom's presentation "The Use of Monte Carlo Simulation for Pricing Analysis" was well received by the over 100 attendees of the conference's Analytical Methodology Track.

"We are now in the Age of Analytics", Cissell said, "where companies ranging from baseball teams to hotels to financial institutions are using analytics to gain a competitive edge, reduce risk, and to optimize profits." He then went on to explain why Monte Carlo is a useful analytical technique for pricing analysis. "Business decisions always have uncertainty associated with them. Usually, data collection and analysis can reduce the uncertainty. With pricing decisions, even if you have all the resources, time, and budget you need there remain unpredictable elements such as how competition will react and just exactly how will the market respond to your price". Before walking through a new product pricing simulation, Cissell concluded, "Monte Carlo Simulation is ideally suited for dealing with uncertainty, is built upon a large body of prior work, and is relatively easy to apply."

The Cistek Group helps clients quantify, market, and sell the value of their solutions, and establish value-based pricing practices through consulting engagements, training, and purpose-built tools. Cistek consultants have conducted solution valuations and/or pricing analysis for clients in information technology, manufacturing, healthcare, construction, and process automation.

For more information, contact Amy Boland, The Cistek Group.