Comparison of risk analysis Microsoft Excel add-ins
The following is a comparison of the features of various spreadsheet risk analysis add-in packages available. Decision-making software is reviewed separately.
General information
Name |
Company name |
Office location(s) |
Product first released |
Last stable version |
Software license |
License options |
System Requirements |
Spreadsheet used |
@RISK Industrial[1] |
Palisade Corporation |
Australia, Japan, UK, USA |
1987 |
7.0.0 |
Proprietary |
Single user, network license |
Windows XP+ |
Excel 32-bit (Excel 2007+), Excel 64-bit |
@RISK Professional[1] |
Palisade Corporation |
Australia, Japan, UK, USA |
1987 |
7.0.0 |
Proprietary |
Single user, network license |
Windows XP+ |
Excel 32-bit (Excel 2007+), Excel 64-bit |
@RISK Standard[1] |
Palisade Corporation |
Australia, Japan, UK, USA |
1987 |
7.0.0 |
Proprietary |
Single user, network license |
Windows XP+ |
Excel 32-bit (Excel 2007+), Excel 64-bit |
Crystal Ball[2] |
Oracle Corporation |
USA |
1987 |
11.1.4.4 |
Proprietary |
Single user |
Windows 2003+ |
Excel 32-bit (Excel 2003+), Excel 64-bit |
Crystal Ball + Decision Optimizer[2] |
Oracle Corporation |
USA |
1987 |
11.1.4.4 |
Proprietary |
Single user |
Windows 2003+ |
Excel 32-bit (Excel 2003+), Excel 64-bit |
DiscoverSim + SigmaXL[3] |
SigmaXL Inc. |
Canada |
2012 |
2.0 |
Proprietary |
Single user |
Windows Vista+ |
Excel 32-bit (Excel 2007+), Excel 64-bit |
Ersatz[4] |
Epigear |
Australia |
2009 |
1.3 |
Proprietary |
Single user |
Windows 2000+ |
Excel 32-bit (Excel 2003+), Excel 64-bit |
Lumenaut[5] |
Lumenaut Ltd |
Hong Kong |
2003 |
3.6.5 |
Proprietary |
Single user |
Windows 2000+ |
Excel 32-bit (Excel 2003+), Excel 64-bit |
MC FLO[6] |
Florentin Gonzalez Lopez |
Switzerland |
2016 |
1.5.0 |
Proprietary |
Single user |
Windows 2000+ |
Excel 32-bit (Excel 2010+), Excel 64-bit |
ModelRisk Industrial[7] |
Vose Software |
Belgium, Russia, USA |
2008 |
5.2.0.9 |
Proprietary |
Single user, network license |
Windows XP+ |
Excel 32-bit (Excel 2003+), Excel 64-bit |
ModelRisk Professional[7] |
Vose Software |
Belgium, Russia, USA |
2008 |
5.2.0.9 |
Proprietary |
Single user, network license |
Windows XP+ |
Excel 32-bit (Excel 2003+), Excel 64-bit |
ModelRisk Standard[7] |
Vose Software |
Belgium, Russia, USA |
2008 |
5.2.0.9 |
Proprietary |
Single user, network license |
Windows XP+ |
Excel 32-bit (Excel 2003+), Excel 64-bit |
Quantum XL[8] |
Sigmazone |
USA |
2010 |
3.50.04 |
Proprietary |
Single user |
Windows XP+ |
Excel 32-bit (Excel 2000+), Excel 64-bit |
Risk Analyzer |
Add-ins.com |
USA |
2003 |
11.02 |
Proprietary |
Single user |
Windows 2000+ |
Excel 32-bit (Excel 97+), Excel 64-bit |
Risk Kit Suite[9] |
Wehrspohn GmbH & Co. KG |
Germany |
2007 |
6.0 |
Proprietary |
Free, single user, network license |
Windows 2000+ |
Excel 32-bit (Excel 2003+), Excel 64-bit |
Risk Solver Pro[10] |
Frontline Systems |
USA |
2007 |
15.0 |
Proprietary |
Single user, network license |
Windows XP+ |
Excel 32-bit (Excel 2003+), Excel 64-bit, Excel Online |
Risk Solver Pro + Premium Solver Pro[10] |
Frontline Systems |
USA |
2007 |
15.0 |
Proprietary |
Single user, network license |
Windows XP+ |
Excel 32-bit (Excel 2003+), Excel 64-bit, Excel Online |
RiskAmp Personal[11] |
Structured Data LLC |
USA |
2005 |
11.5 |
Proprietary |
Single user |
Windows 2000+ |
Excel 32-bit (Excel 2003+), Excel 64-bit |
RiskAmp Professional[11] |
Structured Data LLC |
USA |
2005 |
11.5 |
Proprietary |
Single user |
Windows 2000+ |
Excel 32-bit (Excel 2003+), Excel 64-bit |
SAFE TOOLBOXES[12] |
Safe Quantitative Technologies |
USA |
2016 |
1.0 |
Proprietary |
Single user |
Windows 2000+ |
Excel 32-bit (Excel 2003+), Excel 64-bit |
Simtools xla[13] |
Roger Myerson, University of Chicago |
USA |
? |
3.31a |
Freeware |
N/A |
Windows 95+ |
Excel 32-bit (Excel 5+) |
Similar[14] |
Luciano Machain |
Argentina |
? |
2.5 |
Freeware |
N/A |
Windows XP+ |
Excel 32-bit (Excel 2003+) |
Tukhi[15] |
KALX, LLC |
USA |
? |
0.2.11.5 |
Freeware |
N/A |
Windows 95+ |
Excel 32-bit (Excel 5+) |
YASAI[16] and YASAIw[17] |
Rutgers University and Washington State Department of Ecology |
USA |
2001 |
2.4, 2.0w29 |
Freeware, Open source |
N/A |
Windows 95+ |
Excel 32-bit (Excel 97+), Excel 64-bit |
Technical specification I
Name |
Distribution fitting |
Correlation fitting[18] |
Time series fitting |
Decision trees |
Optimizer included |
Database connectivity |
VBA calls to functions[19] |
C++ calls to functions[20] |
Six sigma supported |
@RISK Industrial |
Yes |
Yes |
Yes |
PrecisionTree option |
Yes |
No |
Yes |
Yes |
Yes |
@RISK Professional |
Yes |
Yes |
No |
PrecisionTree option |
No |
No |
Yes |
Yes |
Yes |
@RISK Standard |
No |
Yes |
No |
PrecisionTree option |
No |
No |
No |
No |
Yes |
Crystal Ball |
Yes |
No |
Yes |
No |
No |
No |
Yes |
No |
Yes |
Crystal Ball + Decision Optimizer |
Yes |
No |
Yes |
No |
Yes |
No |
Yes |
No |
Yes |
Crystal Ball EPM + Decision Optimizer |
Yes |
No |
Yes |
No |
Yes |
Yes |
Yes |
No |
Yes |
DiscoverSim + SigmaXL |
Yes |
Yes |
No |
No |
Yes |
No |
No |
No |
Yes |
Ersatz |
No |
No |
No |
No |
Yes |
No |
No |
No |
No |
Lumenaut |
No |
No |
No |
Yes |
No |
No |
No |
No |
No |
MC FLO |
Yes |
Yes |
No |
No |
No |
No |
No |
No |
No |
ModelRisk Industrial |
Yes |
Yes |
Yes |
No |
Yes |
Yes |
Yes |
Yes |
Yes |
ModelRisk Professional |
Yes |
Yes |
Yes |
No |
Yes |
No |
Yes |
Yes |
No |
ModelRisk Standard |
No |
No |
No |
No |
No |
No |
Yes |
Yes |
No |
Quantum XL |
Yes |
No |
No |
No |
Yes |
No |
No |
No |
Yes |
Risk Analyzer |
No |
No |
No |
No |
No |
No |
No |
No |
No |
Risk Kit Suite |
Yes |
Yes |
Yes |
No |
No |
No |
Yes |
Yes[21] |
No |
Risk Solver Pro |
Yes |
No |
XLMiner option |
Yes |
No |
XLMiner option |
Yes |
Yes |
Yes |
Risk Solver Pro + Premium Solver Pro |
Yes |
No |
XLMiner option |
Yes |
Yes |
XLMiner option |
Yes |
Yes |
Yes |
RiskAmp Personal |
No |
No |
No |
No |
No |
No |
No |
No |
No |
RiskAmp Professional |
No |
No |
No |
No |
No |
No |
No |
No |
No |
SAFE TOOLBOXES |
Yes |
Yes |
Yes |
No |
No |
No |
Yes |
No |
Yes |
Simtools xla |
No |
No |
No |
Functions / macros |
No |
No |
Yes |
No |
No |
Similar |
Yes |
No |
No |
No |
Yes |
No |
Yes |
Yes |
No |
YASAI and YASAIw |
No |
No |
No |
No |
No |
No |
Yes |
No |
No |
Technical specification II
Name |
Converters for |
Probability calculation functions[22] |
UDF error analysis[23] |
Extreme value modeling[24] |
Expert elicitation tools[25] |
Data previsualizer |
ODE and numerical integration |
Assumption library |
@RISK Industrial |
Crystal Ball |
Yes |
No |
No |
Yes |
Yes |
No |
Yes |
@RISK Professional |
Crystal Ball |
Yes |
No |
No |
Yes |
Yes |
No |
Yes |
@RISK Standard |
Crystal Ball |
Yes |
No |
No |
Yes |
Yes |
No |
No |
Crystal Ball |
No |
Yes |
No |
No |
No |
Yes |
No |
No |
Crystal Ball + Decision Optimizer |
No |
Yes |
No |
No |
No |
Yes |
No |
No |
DiscoverSim + SigmaXL |
No |
Yes |
No |
No |
No |
Yes |
No |
No |
Ersatz |
No |
No |
No |
No |
No |
No |
No |
No |
Lumenaut |
No |
No |
No |
No |
No |
No |
No |
No |
MC FLO |
No |
No |
Yes |
No |
Yes |
No |
No |
No |
ModelRisk Industrial |
Crystal Ball, @RISK |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
ModelRisk Professional |
Crystal Ball, @RISK |
Yes |
Yes |
Yes |
Yes |
Yes |
No |
No |
ModelRisk Standard |
Crystal Ball, @RISK |
Yes |
Yes |
No |
No |
No |
No |
No |
Quantum XL |
No |
No |
No |
No |
No |
No |
No |
No |
Risk Analyzer |
No |
No |
No |
No |
No |
No |
No |
No |
Risk Kit Suite |
No |
Yes |
Yes |
Yes |
Yes |
Yes |
No |
No |
Risk Solver Pro |
No |
No |
No |
No |
No |
No |
No |
No |
Risk Solver Pro + Premium Solver Pro |
No |
No |
No |
No |
No |
No |
No |
No |
RiskAmp Personal |
No |
No |
No |
No |
No |
No |
No |
No |
RiskAmp Professional |
No |
No |
No |
No |
No |
No |
No |
No |
SAFE TOOLBOXES |
No |
Yes |
No |
Yes |
No |
Yes |
Yes |
Yes |
Simtools xla |
No |
No |
No |
No |
No |
No |
No |
No |
Similar |
No |
No |
No |
No |
No |
No |
No |
No |
YASAI and YASAIw |
No |
No |
No |
No |
No |
No |
No |
No |
Simulation Controls
Name |
Control of seed values |
Maximum numbers of draws[26] |
Random number generator |
Lock / unlock random variables[27] |
Multiple simulation runs[28] |
Run macros before/after simulation[29] |
Stop run when output generates error[30] |
Apply specific sample in model[31] |
Precision control[32] |
Spreadsheet interpreter[33] |
Sampling method[34] |
@RISK Industrial |
Yes |
Unlimited |
Several |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
No |
MC, LHS |
@RISK Professional |
Yes |
Unlimited |
Several |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
No |
MC, LHS |
@RISK Standard |
Yes |
Unlimited |
Several |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
No |
MC, LHS |
Crystal Ball |
Yes |
Unlimited |
MCG[35] |
Yes |
Yes |
Yes |
Yes |
No |
Yes |
Yes |
MC, LHS |
Crystal Ball + Decision Optimizer |
Yes |
Unlimited |
MCG[35] |
Yes |
Yes |
Yes |
Yes |
No |
Yes |
Yes |
MC, LHS |
DiscoverSim + SigmaXL |
Yes |
1e7 |
Marsaglia KISS + Monster |
No |
No |
No |
No |
No |
No |
Yes |
MC, LHS |
Ersatz |
No |
Unlimited |
7 RNGs |
Yes |
Yes |
Yes |
No |
No |
No |
No |
MC |
Lumenaut |
Yes |
Constrained by Excel |
Mersenne Twister |
No |
No |
No |
No |
No |
No |
No |
MC |
MC FLO |
Yes |
Constrained by Excel |
Mersenne Twister |
No |
Yes |
Yes |
Yes |
Yes |
No |
No |
MC |
ModelRisk Industrial |
Yes |
Unlimited |
Mersenne Twister |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
No |
MC |
ModelRisk Professional |
Yes |
Unlimited |
Mersenne Twister |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
No |
MC |
ModelRisk Standard |
Yes |
Unlimited |
Mersenne Twister |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
No |
MC |
Quantum XL |
No |
10000 |
Mersenne Twister |
No |
No |
No |
No |
No |
Yes |
Yes |
MC |
Risk Analyzer |
No |
Constrained by Excel |
? |
No |
No |
No |
No |
No |
No |
No |
MC |
Risk Kit Suite |
Yes |
Unlimited |
Mersenne Twister |
No |
Yes |
Yes |
Yes |
No |
No |
No |
MC |
Risk Solver Pro |
Yes |
Unlimited |
Several |
Yes |
Yes |
Yes |
No |
Yes |
No |
Yes |
MC, LHS, Sobol |
Risk Solver Pro + Premium Solver Pro |
Yes |
Unlimited |
Several |
Yes |
Yes |
Yes |
No |
Yes |
No |
Yes |
MC, LHS, Sobol |
RiskAmp Personal |
Yes |
Constrained by Excel |
Mersenne Twister |
Yes |
No |
No |
No |
No |
No |
No |
MC, LHS |
RiskAmp Professional |
Yes |
Constrained by Excel |
Mersenne Twister |
Yes |
No |
No |
No |
No |
No |
No |
MC, LHS |
SAFE TOOLBOXES |
Yes |
Unlimited |
Mersenne Twister, RanLux and GFSRG |
Yes |
Yes |
Yes |
No |
Yes |
No |
No |
MC, Antithetic, Fauré,Halton |
Simtools xla |
No |
Constrained by Excel |
Excel's RAND |
No |
No |
No |
No |
No |
No |
No |
MC |
Similar |
No |
Constrained by Excel |
? |
Yes |
No |
No |
No |
No |
No |
No |
MC |
YASAI and YASAIw |
Yes |
Constrained by Excel |
L'Ecuyer's MRG32k3a[36] |
No |
Yes |
Yes |
No |
No |
No |
No |
MC |
Reporting results
Name |
Includes reporting tool |
Free report viewer[37] |
Save and retrieve results |
Editing of graphs[38] |
Histogram |
Cumulative |
Time series plot |
Spider[39] |
Tornado |
Scatter |
Pareto |
Box |
Statistics |
Simulation data |
Results filtering[40] |
@RISK Industrial |
Yes |
No |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
@RISK Professional |
Yes |
No |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
@RISK Standard |
Yes |
No |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Crystal Ball |
Yes |
Not required. Report generated in Excel |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
No |
Yes |
Yes |
Yes |
Crystal Ball + Decision Optimizer |
Yes |
Not required. Report generated in Excel |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
No |
Yes |
Yes |
Yes |
DiscoverSim + SigmaXL |
Yes |
No |
Yes |
Yes |
Yes |
No |
Yes |
No |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Ersatz |
No |
No |
Yes |
Yes |
Yes |
No |
No |
No |
Yes |
Yes |
No |
No |
Yes |
No |
No |
Lumenaut |
No |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
MC FLO |
Yes |
Not required. Report generated in Excel |
Yes |
Yes |
Yes |
Yes |
N/A |
N/A |
Yes |
N/A |
N/A |
N/A |
Yes |
Yes |
Yes |
ModelRisk Industrial |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
ModelRisk Professional |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
ModelRisk Standard |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Quantum XL |
No |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
Risk Analyzer |
No |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
Risk Kit Suite |
Yes |
No |
No |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
No |
Risk Solver Pro |
Yes |
No |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
No |
Yes |
Yes |
Yes |
Yes |
Risk Solver Pro + Premium Solver Pro |
Yes |
No |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
No |
Yes |
Yes |
Yes |
Yes |
RiskAmp Personal |
No |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
RiskAmp Professional |
No |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
SAFE TOOLBOXES |
Yes |
Not required. |
Yes |
Yes |
Yes |
Yes |
Yes |
No |
No |
Yes |
No |
Yes |
Yes |
Yes |
Yes |
Simtools xla |
No |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
Similar |
No |
N/A |
N/A |
N/A |
Yes |
Yes |
N/A |
Yes |
Yes |
N/A |
N/A |
N/A |
Yes |
Yes |
N/A |
YASAI and YASAIw |
No |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
Yes |
N/A |
Help file, support and training
Name |
UDFs linked to help file[41] |
Interfaces linked to help file[42] |
Help file in PDF |
Help file online |
Technical support available |
Language versions[43] |
Online videos |
Online training |
Onsite training |
@RISK Industrial |
Yes |
Yes |
Yes |
Yes |
Yes |
ZH, EN, FR, DE, JA, PT, ES |
Yes |
Yes |
Yes |
@RISK Professional |
Yes |
Yes |
Yes |
Yes |
Yes |
ZH, EN, FR, DE, JA, PT, ES |
Yes |
Yes |
Yes |
@RISK Standard |
Yes |
Yes |
Yes |
Yes |
Yes |
ZH, EN, FR, DE, JA, PT, ES |
Yes |
Yes |
Yes |
Crystal Ball |
No |
Yes |
Yes |
Yes |
Yes |
EN, JA, ES, DE, FR, PT |
Yes |
Yes |
Via Partners |
Crystal Ball + Decision Optimizer |
No |
Yes |
Yes |
Yes |
Yes |
EN, JA, ES, DE, FR, PT |
Yes |
Yes |
Via Partners |
DiscoverSim + SigmaXL |
N/A |
Yes |
Yes |
Yes |
Yes |
EN |
Yes |
No |
Yes |
Ersatz |
No |
No |
Yes |
Yes |
Yes |
EN |
No |
No |
No |
Lumenaut |
N/A |
No |
No |
No |
Yes |
EN |
No |
No |
No |
MC FLO |
No |
No |
Yes |
No |
Yes |
DE, EN |
No |
No |
No |
ModelRisk Industrial |
Yes |
Yes |
Yes |
Yes |
Yes |
EN |
Yes |
Yes |
Yes |
ModelRisk Professional |
Yes |
Yes |
Yes |
Yes |
Yes |
EN |
Yes |
Yes |
Yes |
ModelRisk Standard |
Yes |
Yes |
Yes |
Yes |
Yes |
EN |
Yes |
Yes |
Yes |
Quantum XL |
N/A |
Yes |
No |
No |
Yes |
EN |
No |
No |
Yes |
Risk Analyzer |
N/A |
N/A |
No |
No |
Yes |
EN |
No |
? |
? |
Risk Kit Suite |
Yes |
Yes |
No |
No |
Yes |
EN, FR, DE |
Yes |
No |
Yes |
Risk Solver Pro |
Yes |
Yes |
Yes |
Yes |
Yes |
EN |
Yes |
Yes |
Yes |
Risk Solver Pro + Premium Solver Pro |
Yes |
Yes |
Yes |
Yes |
Yes |
EN |
Yes |
Yes |
Yes |
RiskAmp Personal |
No |
No |
Yes |
Yes |
Yes |
EN |
No |
No |
No |
RiskAmp Professional |
No |
No |
Yes |
Yes |
Yes |
EN |
No |
No |
No |
SAFE TOOLBOXES |
No |
No |
No |
Yes |
Yes |
EN |
Yes |
No |
No |
Simtools xla |
No |
No |
No |
No |
No |
EN |
No |
No |
No |
Similar |
No |
No |
Yes |
No |
Yes |
EN, ES |
No |
No |
No |
YASAI and YASAIw |
No |
No |
No |
No |
No |
EN |
No |
No |
No |
See also
Footnotes and references
- 1 2 3 @RISK manual version 7.0, Palisade Corporation http://www.palisade.com
- 1 2 Crystal Ball manual: Oracle® Crystal Ball http://www.oracle.com/us/products/applications/crystalball/index.html, Fusion addition Release 11.1.1.3 Statistical Guide
- ↑ DiscoverSim Workbook: SigmaXL® DiscoverSim http://www.sigmaxl.com/DiscoverSim_Features.shtml
- ↑ Ersatz website: http://www.epigear.com/index_files/ersatz.html
- ↑ Lumenaut online resources: http://www.lumenaut.com/info.htm
- ↑ MC FLO online resources: http://mcflosim.jimdo.com/
- 1 2 3 ModelRisk online help file: http://www.vosesoftware.com/vosesoftware/ModelRiskHelp/
- ↑ Help file downloadable with software at http://www.sigmazone.com/
- ↑ The Risk Kit Suite is available as portable (no admin-rights required) or installer version. It consists of Risk Kit for Monte-Carlo simulations, Risk Kit R for advanced statistical analyses, and Risk Kit Data for an online data feed of financial data and social statistics from the European Central Bank ECB, the World Bank, the Federal Reserve Economic Data FRED, Eurostat and Yahoo!Finance. Risk Kit Suite on corporate website: http://www.wehrspohn.info/Wehrspohn-GmbH-Co-KG.656.0.html?&L=1
- 1 2 Risk Solver online user guide: http://www.solver.com/suppxlsguide.htm
- 1 2 RiskAmp online user guide: http://www.riskamp.com/library/howto.php
- ↑ SAFE TOOLBOXES website: http://www.safetoolboxes.com
- ↑ http://home.uchicago.edu/rmyerson/addins.htm#simt
- ↑ Help file downloadable with software at http://www.simularsoft.com.ar/
- ↑ http://tukhi.com/
- ↑ http://www.yasai.rutgers.edu/
- ↑ http://www.ecy.wa.gov/programs/eap/models.html
- ↑ Excel has tools for calculating correlation statistics for a data set. This refers to the software's ability to fit correlation structures to a data set and, where more than one correlation structure is available, to compare the levels of fit.
- ↑ Some add-ins provide VBA versions of their UDFs, which allow the user to build their own stochastic UDFs in VBA. Some add-ins also provide VBA functions that control a simulation. This allows the user to create VBA macros that will automatically run simulations and generate results.
- ↑ Some add-ins allow calls to C++ routines. These allow the user to create a stand-alone DLL that represents a part of the model which needs to be as fast as possible by making use of the faster performance of the original code (usually C++)
- ↑ Integrable as .NET-assembly
- ↑ Provides the facility to calculate probability mass (or density), cumulative probability, moments, etc. of a distribution directly in the spreadsheet.
- ↑ Standard error messages like #VALUE! when an input parameter is invalid is replaced by a message describing the reason of the error.
- ↑ Toosl to evaluate the distribution of the minimum or maximum sample from a set of IIDs
- ↑ Graphical interfaces to facilitate determining distribution of uncertainty of some model parameter based on expert opinion.
- ↑ Some add-ins do not have a custom results viewer and export the data directly into the spreadsheet for analysis using the spreadsheet's native charting and statistical tools. The number of draws is then restricted by the ability of the spreadsheet to handle the size of the generated data.
- ↑ The ability to replace a random variable with a fixed value.
- ↑ Some add-ins allow the user to automatically run a model multiple times replacing decision variables with different values for each simulation run
- ↑ Some add-ins allow the user to run a VBA macro before a simulation (e.g. to import data from an external source), after a simulation (e.g. to export the results to a database) or before or after a random draw of the model (e.g. to perform an optimization).
- ↑ Stopping a simulation run when an output variable generates an error is a useful feature for debugging a model
- ↑ After a simulation run the user is able to insert a specific generated result back into the spreadsheet. This is useful, for example, if one wants to investigate the generated scenario that created the greatest profit or loss.
- ↑ The ability to specify a required level of precision for output results, usually the accuracy with which the mean or a percentile of the output has been determined. Precision control will stop a simulation run when the required accuracy is achieved
- ↑ Some add-ins will create a compiled version of the spreadsheet model before simulation. This has the benefit of a far faster simulation speed, but will not work with many types of models e.g. models that include VBA calls or functions like OFFSET and VLOOKUP.
- ↑ Only Monte Carlo sampling is compatible with copula correlation structures. Using Latin Hypercube or Sobol sampling removes the possibility of using other correlation structures like Archimedean copulas.
- 1 2 Multiplicative Congruential Generator
- ↑ L'Ecuyer et al. 2002. An object-oriented random-number package with many long streams and substreams. Operations Research 50(6)1073-1075. http://www.iro.umontreal.ca/~lecuyer/myftp/papers/streams00.pdf
- ↑ A reports viewer is a stand-alone application that can present the simulation results from a results file without the user needing to own a copy of the add-in or have a copy of the original model.
- ↑ Ability to change colour schemes, fonts, add markers and legends, etc.
- ↑ See, for example: https://www.google.ca/search?q=spider+sensitivity+analysis&tbm=isch&tbo=u&source=univ&sa=X&ved=0ahUKEwjazfDmvOvJAhVJmR4KHTYJBO4QsAQIIA&biw=1920&bih=906
- ↑ The ability to select a subset of the simulation results (e.g. scenarios that result in a loss) thereby allowing the user to investigate scenarios of greatest interest.
- ↑ In Excel the Insert Function dialog box includes a 'Help on this function'-hyperlink. Some add-ins use this feature to provide a direct link to the applicable help file topic.
- ↑ Some add-ins with visual interfaces and dialog boxes include a help icon that directly links to the applicable help file topic for that interface
- ↑ ZH = Chinese, EN = English, FR = French, DE = German, JA = Japanese, PT = Portuguese, ES= Spanish
Further reading
- Albright, S. (2011), Data Analysis and Decision Making, 4th Edition, USA: Cengage Learning, ISBN 978-0-538-47612-6
- Charnes, J. (2012), Financial Modeling with Oracle Crystal Ball and Excel (2nd edition), USA: Wiley, ISBN 978-0-471-77972-8
- Day, A. (2003), Mastering Risk Modeling, Great Britain: Prentice Hall, ISBN 0-273-65978-2
- Evans, J.; Olson, D. (1998), Introduction To Simulation And Risk Analysis, United States of America: Prentice Hall, ISBN 0-13-621608-0
- Iman, R. L. and Conover, W. J., (1982). 'A Distribution-Free Approach to Inducing Rank Order Correlation Among Input Variables', Commun Statist-Simula Computa 11(3) 311-334
- Lehman, D.; Groenendaal, H.; Nolder, G. (2010), Practical Spreadsheet Risk Modeling for Management, United States of America: CRC Press, ISBN 978-1-4398-5552-2
- Machain, L. (2011), Simuación de Modelos Financieros, ISBN 978-987-33-0705-8
- Ragsdale, C. (2008), Spreadsheet Modeling & Decision Analysis: A Practical Introduction to Management Science (5th edition), Great Britain: Thomson South-Western, ISBN 0-324-65664-5
- Vose, D. (2008), Risk Analysis: A Quantitative Guide (3rd edition), Great Britain: Wiley, ISBN 978-0-470-51284-5