Palisade, a leading developer of risk and decision analysis software, has reported a 241 per cent jump in its revenue in the Middle East and North Africa during the first half of 2009 when compared to the same period last year.

Risk and decision analysis expert, Palisade, said its products including @RISK and the DecisionTools Suite integrate seamlessly with Microsoft Excel to provide cutting edge techniques such as Monte Carlo simulation, optimisation and neural networking tools in a familiar and intuitive environment.

The company has been operating in the region since 2003 and now has clients in a range of industry sectors.

Oil and gas companies use the software for a variety of applications ranging from reserves estimation and cost calculation through to new project evaluation and operational risk assessments, whilst universities and academic institutions employ it for MBA programmes, operations research and engineering.

Other customers include construction firms and transportation companies, along with government agencies such as utilities and planning departments.

Craig Ferri, UK managing director of Palisade, said: "Organisations make decisions every day, and each one of these has an associated level of risk. A more strategic approach to the decision-making process is enabled with risk and decision analysis, which reduces uncertainty in the overall operations of the business."

"The increase in this region has been due in part to a noticeable jump in interest shown from companies in the area and also the dedicated Palisade team we have put in place to focus on The Middle East," he added.

The company also offers a wide variety of support to help users maximise their software investment – from customised training courses and academic symposiums to bespoke consulting and programming services.

Palisade will be a key participant  at the Offshore Middle East show, to be held at the Bahrain International Exhibition Centre from October 27 to 29.-TradeArabia News Service