NCover is a intelligent code coverge tool. I used it in determining how many % of Biz Logic code is actually tested via unit tests. The more the % the better is the code quality.
What does Code Coverage means: An analysis method that determines which parts of the software have been executed (covered) by the test case suite and which parts have not been executed and therefore may require additional attention. It describes the degree to which the source code of a program has been tested. http://en.wikipedia.org/wiki/Code_coverage
Every standard app should have some minimum % coverage (say 85%), marking it as a quality app/product.
Advantages:
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Helps in writing quality code and hence a quality product.
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Provides a Graphical and a Web UI Interface
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You can exclude the file that you dont wanna test.
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64 bit program support.
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Fast and Simple
Disadvantages:
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Not a Visual Studio Add in...but will be in future.
More details can be found at NCover website: http://www.ncover.com/