Comparison of risk analysis Microsoft Excel add-ins

Short description: None

The following is a comparison of various add-in packages available to do Monte Carlo probabilistic modeling and risk analysis. Add-ins covered are for Microsoft Excel on Windows. Mac software and tools for other platforms, such as R or Matlab are not included.

Decision-making software is reviewed separately.

## Contents

* 1 General information
* 2 Technical specification I
* 3 Technical specification II
* 4 Simulation Controls
* 5 Reporting results
* 6 Help file, support and training
* 7 See also
* 8 Footnotes and references
* 9 Further reading

## 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  | 7.5  | 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  | 7.5  | Proprietary | Single user, network license  | Windows XP+  | Excel 32-bit (Excel 2007+), Excel 64-bit
Argo[2] | Booz Allen Hamilton  | USA  | 2012  | 4.1  | Freeware  | N/A  | Windows XP+  | Excel 32-bit (Excel 2007+), Excel 64-bit
Crystal Ball[3] | 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[3] | Oracle Corporation  | USA  | 1987  | 11.1.4.4  | Proprietary | Single user  | Windows 2003+  | Excel 32-bit (Excel 2003+), Excel 64-bit
DiscoverSim + SigmaXL[4] | SigmaXL Inc.  | Canada  | 2012  | 2.1  | Proprietary | Single user  | Windows Vista+  | Excel 32-bit (Excel 2010+), Excel 64-bit
MC FLO[5] | MC FLOsim  | Switzerland  | 2016  | Fátima III  | Proprietary | Single user  | Windows 2000+  | Excel 32-bit (Excel 2010+), Excel 64-bit
ModelRisk[6] | Vose Software  | Belgium  | 2008  | 6.1  | Proprietary | Single user, network license  | Windows XP+  | Excel 32-bit (Excel 2003+), Excel 64-bit
Monte Carnival[7] | Monte Carnival  | USA  | 2018  | 1.0  | Proprietary | Single User  | Windows 95+  | Excel 32-bit (Excel 1997+), 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  | 7.10  | 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+)
Simulación 5.0[14] | José Ricardo Varela  | Argentina  | 2020  | 5.0.3  | Freeware  | N/A  | Windows XP+  | Excel 32-bit (Excel 2003+), Excel 64-bit
SimulAr[15] | Luciano Machain  | Argentina  | ?  | 2.5  | Freeware  | N/A  | Windows XP+  | Excel 32-bit (Excel 2003+)
Simulation Master Premium[16] | Vortarus Technologies LLC  | USA  | 2017  | 18.12.03  | Proprietary | Single user  | Windows XP+  | Excel 32-bit (Excel 2007+), Excel 64-bit
Simulation Master Standard[16] | Vortarus Technologies LLC  | USA  | 2017  | 18.09.01  | Proprietary | Single user  | Windows XP+  | Excel 32-bit (Excel 2007+), Excel 64-bit
XllMonte[17] | KALX, LLC  | USA  | ?  | 1.0.0.23  | Freeware  | N/A  | Windows 95+  | Excel 32-bit (Excel 2007+), Excel 64-bit
YASAI[18] and YASAIw[19] | 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[20] | Time series fitting  | Decision trees  | Optimizer included  | Database connectivity  | VBA calls to functions[21] | C++ calls to functions[22] | 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
Argo  | No  | Yes  | No  | No  | Yes  | No  | No  | No  | No
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  | Yes  | No  | Yes  | No  | No  | No  | Yes
MC FLO  | Yes  | Yes  | Yes  | No  | No  | No  | Yes  | No  | No
ModelRisk  | Yes  | Yes  | Yes  | No  | No  | Yes  | Yes  | Yes  | Yes
Monte Carnival  | No  | No  | No  | No  | No  | No  | No  | No  | 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[23] | 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
Simulación 5.0  | Yes  | No  | No  | No  | Yes  | No  | Yes  | No  | No
Simular  | Yes  | No  | No  | No  | Yes  | No  | Yes  | Yes  | No
Simulation Master Premium  | Yes  | Yes  | Yes  | DTace option  | Yes  | No  | Yes  | No  | No
Simulation Master Standard  | No  | No  | No  | DTace option  | No  | No  | No  | No  | No
YASAI and YASAIw  | No  | No  | No  | No  | No  | No  | Yes  | No  | No

## Technical specification II

Name  | Converters for  | Probability calculation functions[24] | UDF error analysis[25] | Extreme value modeling[26] | Expert elicitation tools[27] | 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
Argo  | No  | Yes  | No  | No  | No  | 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
MC FLO  | No  | Yes  | Yes  | Yes  | Yes  | Yes  | No  | No
ModelRisk  | Crystal Ball, @RISK  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes
Monte Carnival  | No  | No  | No  | 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
Simulación 5.0  | No  | Yes  | No  | No  | No  | Yes  | No  | No
Simular  | No  | No  | No  | No  | No  | No  | No  | No
Simulation Master Premium  | No  | No  | Yes  | No  | No  | No  | No  | No
Simulation Master Standard  | No  | No  | Yes  | 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[28] | Random number generator | Lock / unlock random variables[29] | Multiple simulation runs[30] | Run macros before/after simulation[31] | Stop run when output generates error[32] | Apply specific sample in model[33] | Precision control[34] | Spreadsheet interpreter[35] | Sampling method[36]

|
|
|
|
|
|
|
|
|
|
|

@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
Argo  | Yes  | 20000  | Mersenne Twister | Yes  | No  | No  | No  | Yes  | No  | Yes  | MC, LHS
Crystal Ball  | Yes  | Unlimited  | MCG[37] | Yes  | Yes  | Yes  | Yes  | No  | Yes  | Yes  | MC, LHS
Crystal Ball + Decision Optimizer  | Yes  | Unlimited  | MCG[37] | 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
MC FLO  | Yes  | Unlimited / Constrained by Excel  | Mersenne Twister | Yes  | Yes  | No  | Yes  | Yes  | No  | No  | MC
ModelRisk  | Yes  | Unlimited  | Mersenne Twister | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | No  | MC
Monte Carnival  | No  | Unlimited  | Several  | Yes  | Yes  | No  | Yes  | No  | No  | No
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
Simulación 5.0  | Yes  | 1.000.000  | Several  | Yes  | No  | Yes  | No  | Yes  | Yes  | No  | MC, LHS
Simular  | No  | Constrained by Excel  | ?  | Yes  | No  | No  | No  | No  | No  | No  | MC
Simulation Master Premium  | Yes  | Constrained by Excel  | MCG,[37] Excel's RAND  | Yes  | Yes  | No  | No  | No  | No  | No  | MC
Simulation Master Standard  | Yes  | Constrained by Excel  | MCG,[37] Excel's RAND  | Yes  | No  | No  | No  | No  | No  | No  | MC
YASAI and YASAIw  | Yes  | Constrained by Excel  | L'Ecuyer's MRG32k3a[38] | No  | Yes  | Yes  | No  | No  | No  | No  | MC

## Reporting results

Name  | Includes reporting tool  | Report export formats[39] | Save and retrieve results  | Editing of graphs[40] | Histogram | Cumulative | Time series plot  | Spider[41] | Tornado | Scatter | Pareto | Box | Statistics | Simulation data  | Results filtering[42]

|
|
|
|
|
|
|
|
|
|
|
|
|
|
|

@RISK Industrial  | Yes  | Excel, bitmap  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes
@RISK Professional  | Yes  | Excel, bitmap  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes
Argo  | Yes  | Excel, bitmap  | Yes  | Yes  | Yes  | Yes  | No  | Yes  | Yes  | Yes  | No  | No  | Yes  | Yes  | No
Crystal Ball  | Yes  | Excel  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | No  | Yes  | Yes  | Yes
Crystal Ball + Decision Optimizer  | Yes  | Excel  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | No  | Yes  | Yes  | Yes
DiscoverSim + SigmaXL  | Yes  | Excel  | Yes  | Yes  | Yes  | No  | Yes  | No  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes
MC FLO  | Yes  | Excel  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes
ModelRisk  | Yes  | PDF, PowerPoint, Word, Excel, ModelRisk ResultsViewer, bitmap  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes
Monte Carnival  | Yes  | Excel  | Yes  | Yes  | No  | No  | No  | No  | No  | No  | No  | No  | Yes  | Yes
Quantum XL  | No  | N/A  | Excel  | 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  | Excel  | 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  | Excel  | No  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | No
Risk Solver Pro  | Yes  | Excel  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | No  | Yes  | Yes  | Yes  | Yes
Risk Solver Pro + Premium Solver Pro  | Yes  | Excel  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | No  | Yes  | Yes  | Yes  | Yes
RiskAmp Personal  | No  | Excel  | 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  | Excel  | 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  | Excel  | 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
Simulación 5.0  | Yes  | Excel  | Yes  | Yes  | Yes  | Yes  | No  | No  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes
Simular  | No  | Excel  | N/A  | N/A  | Yes  | Yes  | N/A  | Yes  | Yes  | N/A  | N/A  | N/A  | Yes  | Yes  | N/A
Simulation Master Premium  | Yes  | Excel  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | Yes  | No  | No  | Yes  | Yes  | No
Simulation Master Standard  | Yes  | Excel  | Yes  | Yes  | Yes  | Yes  | No  | Yes  | Yes  | Yes  | No  | No  | Yes  | Yes  | No
YASAI and YASAIw  | No  | Excel  | 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[43] | Interfaces linked to help file[44] | Help file in PDF  | Help file online  | Technical support available  | Language versions[45] | 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
Argo  | No  | No  | Yes  | Yes  | Yes  | EN  | No  | No  | 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
MC FLO  | Yes  | Yes  | Yes  | Yes  | Yes  | DE, EN, ES  | Yes  | No  | No
ModelRisk  | Yes  | Yes  | Yes  | Yes  | Yes  | EN, FR, RU, PT  | Yes  | Yes  | Yes
Monte Carnival  | Yes  | Yes  | Yes  | Yes  | Yes  | EN  | Yes  | No  | No
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
Simulación 5.0  | Yes  | Yes  | Yes  | Yes  | Yes  | style="background:#F99;vertical-align:middle;text-align:center;" class="table-no"|No  | No  | No
Simular  | No  | No  | Yes  | No  | Yes  | EN, ES  | No  | No  | No
Simulation Master Premium  | No  | Yes  | Yes  | Yes  | Yes  | EN  | Yes  | No  | No
Simulation Master Standard  | No  | Yes  | Yes  | Yes  | Yes  | EN  | Yes  | No  | No
YASAI and YASAIw  | No  | No  | No  | No  | No  | EN  | No  | No  | No

## See also

* Spreadsheet
* Probability
* Add-in

## Footnotes and references

1. ↑ 1.0 1.1 @RISK manual version 7.0, Palisade Corporation http://www.palisade.com
2. ↑ Booz Allen Hamilton, Argo https://boozallen.github.io/argo/
3. ↑ 3.0 3.1 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
4. ↑ DiscoverSim Workbook: SigmaXL® DiscoverSim http://www.sigmaxl.com/DiscoverSim_Features.shtml
5. ↑ MC FLO online resources: https://www.mcflosim.ch/en/
6. ↑ ModelRisk online help file: http://www.vosesoftware.com/vosesoftware/ModelRiskHelp/
7. ↑ "Monte Carlo Simulation Add-In for Microsoft Excel - Monte Carnival" (in en). https://montecarnival.com.
8. ↑ Help file downloadable with software at http://www.sigmazone.com/
9. ↑ 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: https://www.wehrspohn.info/en/products/risk-kit-suite.html
10. ↑ 10.0 10.1 Risk Solver online user guide: http://www.solver.com/suppxlsguide.htm
11. ↑ 11.0 11.1 RiskAmp online user guide: http://www.riskamp.com/library/howto.php
12. ↑ SAFE TOOLBOXES website: http://www.safetoolboxes.com
13. ↑ "Roger Myerson | Simtools.xlam add-in for Excel". http://home.uchicago.edu/rmyerson/addins.htm#simt.
14. ↑ "Simulación 5.0" (in en-US). https://sites.google.com/view/simulacion5/main.
15. ↑ Help file downloadable with software at http://www.simularsoft.com.ar/
16. ↑ 16.0 16.1 "Simulation Master - Monte Carlo Simulation Add-In for Excel" (in en-US). Vortarus Technologies LLC. https://vortarus.com/products/simulation-master-monte-carlo-simulation/.
17. ↑ "Home". http://xllmonte.com/.
18. ↑ "Home". http://www.yasai.rutgers.edu/.
19. ↑ "Environmental Assessment Program - Models for TMDLS". http://www.ecy.wa.gov/programs/eap/models.html.
20. ↑ 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.
21. ↑ 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.
22. ↑ 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++)
23. ↑ Integrable as .NET-assembly
24. ↑ Provides the facility to calculate probability mass (or density), cumulative probability, moments, etc. of a distribution directly in the spreadsheet.
25. ↑ Standard error messages like #VALUE! when an input parameter is invalid is replaced by a message describing the reason of the error.
26. ↑ Tools to evaluate the distribution of the minimum or maximum sample from a set of IIDs
27. ↑ Graphical interfaces to facilitate determining distribution of uncertainty of some model parameter based on expert opinion.
28. ↑ 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.
29. ↑ The ability to replace a random variable with a fixed value.
30. ↑ Some add-ins allow the user to automatically run a model multiple times replacing decision variables with different values for each simulation run
31. ↑ 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).
32. ↑ Stopping a simulation run when an output variable generates an error is a useful feature for debugging a model
33. ↑ 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.
34. ↑ 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
35. ↑ 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.
36. ↑ 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.
37. ↑ 37.0 37.1 37.2 37.3 Multiplicative Congruential Generator
38. ↑ 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
39. ↑ Exporting file formats to share graphical and statistical results.
40. ↑ Ability to change colour schemes, fonts, add markers and legends, etc.
41. ↑ 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
42. ↑ 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.
43. ↑ 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.
44. ↑ 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
45. ↑ 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, http://simularsoft.com.ar/book.htm
* Ragsdale, C. (2008), Spreadsheet Modeling & Decision Analysis: A Practical Introduction to Management Science (5th edition), Great Britain: Thomson South-Western, ISBN 978-0-324-65664-0
* Vose, D. (2008), Risk Analysis: A Quantitative Guide (3rd edition), Great Britain: Wiley, ISBN 978-0-470-51284-5

0.00

(0 votes)

|

Retrieved from "https://handwiki.org/wiki/index.php?title=Software:Comparison_of_risk_analysis_Microsoft_Excel_add-ins&oldid=2683628"