Effective design and use of computer decision models
MIS Quarterly
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The increasing popularity of financial reporting and modeling systems, along with the myriad of opportunities in this field, has left many a prospective user asking the question: “Where do I begin?” The user needs guidelines for a selection process and a general comparison of alternatives available in the financial systems area. The steps of the selection process include: defining financial requirements and needs; establishing general and specific criteria; and, finally, comparing alternatives offered by vendors and their products. Using a “new product” problem as a means of exploring the various systems' approaches, this paper presents examples of coding so that the user can evaluate the difference in working with several types of systems. Included are programming and APL based languages, FORTRAN based systems, numerically coded systems and interpretive English language systems. The actual cost comparisons of running the new product problem on twenty-one systems concludes the paper.