The planar Hall effect, although directly related to the magnetoresistance effect, differs in its potential uses by the disposition of the sensing electrodes allowing an internal balance of the excitation voltage drop. An experimental study of ferromagnetic thin film conditions of evaporation, film thickness, composition and shape of the electrodes has been undertaken. Anisotropic Ni-Fe films with various additions of Pd, V, Co, Mo, showed a maximum planar Hall effect for the composition 86-percent Ni, 14-percent Fe. The optimization of the geometrical parameters of the electrodes and the magnetic film elements is described, allowing one to design for maximum output voltage or maximum output current in a short circuited loop. Two schemes are presented for implementation of small NDRO memories.