Frequently Asked Questions
Q.
I already model financial data using systems like Cognos and Excel. They seem to do everything I need, so why would I need a Paragon model?
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A. Excel and other financial tools are fine for, say, financial calculations with financial inputs. However when financial performance needs to be linked to operational inputs and when you need to try, compare and examine the results of many options, "financial in, financial out" tools are inadequate. However, if you are familiar with Excel, we can provide our models with an Excel interface for you to use and to present results.
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Q.
what sort of software/programming expertise would I need to operate Paragon models?
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A. Absolutely none. Paragon constructs models to suit your requirements. If you can use a PC, you can use a Paragon model.
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Q.
how expensive are Paragon models?
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A. That depends on the complexity and your requirements. However, while they are bespoke, we use many standard components within our models. Compared to the costs of poor planning and workforce utilisation the costs are usually minor. Most of our customers would expect a return of at least 10-fold on the cost of commissioning a model. Some of our customers have saved hundreds of millions of pounds.
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Q.
what's wrong with spreadsheets?
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A. Absolutely nothing for many tasks that can be tackled simply by manipulating numbers. Many of our customers started by using highly sophisticated spreadsheets. But a spreadsheet on its own is static and can only look at one scenario at a time. By incorporating spreadsheets into our sophisticated and easy to use dynamic modelling environment, our customers can examine multiple scenarios and compare them easily. Look at some of our case studies. In many cases the complexity of the original Excel-based system was so great that to construct one working scenario took several months. Built into our modelling environment, clients could prepare and compare several scenarios very easily - and be confident that they had chosen the best by any criteria they choose such as customer service, financial return, etc.
For more sophisticated modelling, spreadsheets are completely inadequate as they can't simulate discrete but interdependent linked events. For these we use much more sophisticated software tools to construct your model.hide answer
Q.
our business is too unpredictable. How can modelling to be useful?
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A. Unpredictability is a very good reason why you should model. A model will reveal which factors need to be better controlled and the sensitivity of results to errors and inaccuracies of inputs. It will help you turn uncertainties into quantified risks and to produce plans that are robust even in the face of uncertainty. Paragon models are designed to take accurate account of unpredictable events like machine breakdowns, absenteeism and sickness, patient arrival patterns and so on. In fact, if your system is affected by these sorts of things and your analysis doesn't try and take account of them, any information you gain from the analysis is likely to be wrong.
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Q.
what does a model look like?
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A. They all look a little different but take a look at some of the screen shots in the case studies on this site. There's some pretty clever stuff going on, but the user interface is kept simple - recognising that your expertise is in your business, not in modelling technology. If you want a financial model and are used to using Excel, you'll be completely familiar with a Paragon model.
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Q. it sounds very complicated
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A. Paragon models are complicated in the same way as an iPod is complicated - but easy to use. We employ software engineers and mathematicians - but they speak English and understand business - to construct models to your requirements using your expertise.
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Q. why haven't I heard of modelling before?
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A. Modelling is perhaps the best kept business secret. But just look at the list of household name (see the case study page) customers that have appreciated the benefits.
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Q. there are modelling software products on the market. Why shouldn't I construct my own models using these products?
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A. You could - and some companies do. But is modelling your business? Have you got years of experience developing models using software tools? Do you know which tool is best for a particular job? Have you developed unique technology to provide an easy and useful user interface? Some tools are very expensive, and training is an ongoing requirement. Some of our clients have a very strong internal modelling capability, and are willing to invest the significant sums needed to keep the team at the leading edge. But not all companies want to do this, and prefer to focus their own staff on managing modelling projects rather than developing models. We are very happy to help you develop your own in-house modelling capability, or to work as your modelling partners.
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Q. how much do Paragon models cost?
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A. Think of it this way - many companies engage expensive consultants to help make their business run more efficiently - often with results that are very hard to quantify. Paragon models cost the equivalent of just a few weeks of this expertise and deliver you a tool that can prove its benefits and that can be used over and over again. Our customers typically achieve provable returns of well over 10 times the investment in modelling. Some of our biggest customers have saved tens and even hundreds of millions of pounds.
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