ModelRisk

ModelRisk by Vose Software is a Monte Carlo simulation software designed for risk analysis in Microsoft Excel. This software is marketed towards small to large organizations and is used by various professions and industries including financial risk analysts, investment managers, engineers, traders, and project managers.

Key Features

Fast Monte Carlo Simulation: According to the vendor, ModelRisk offers fast Monte Carlo simulation capabilities within Microsoft Excel. Users can generate thousands of possible scenarios in just a few seconds, facilitating efficient risk analysis.

Comprehensive Risk Analysis Add-in: ModelRisk is claimed to be a comprehensive risk analysis add-in for Excel, providing users with over 1200 functions to incorporate uncertainty into their spreadsheet models. This functionality aims to enhance the accuracy and reliability of risk assessments.

Wide Range of Probability Distributions: ModelRisk incorporates a collection of 136 different probability distributions, enabling users to accurately represent uncertainty surrounding uncertain values in their models.

Time Series Models: ModelRisk includes 34 time series models that allow users to analyze risk over time. These models provide insights into the reliability and predictability of data over specific periods, supporting decision-making processes.

Correlation Models: ModelRisk offers 14 correlation models to analyze the relationship between variables. Users can assess the strength and direction of correlations to better understand and manage interconnected risks in their models.

Specialist Modeling Tools: ModelRisk provides users with specialist modeling tools that simplify the process of building risk analysis models. These tools aim to reduce complexity and streamline the creation of accurate and comprehensive risk assessments.

Data Fitting Capabilities: According to the vendor, ModelRisk allows users to fit available distributions, time series, and correlations to their data. This feature ensures that risk models accurately represent the uncertainty present in the actual data, enhancing the reliability of the analysis.

Comprehensive Reporting of Results: ModelRisk offers comprehensive reporting of simulation results in interactive and customizable charts. Users can visualize the outcomes of their risk analysis in various graphical formats, such as histograms, Pareto charts, and scatter plots.

Exporting Capabilities: Users can export simulation results from ModelRisk to various file formats, including PowerPoint, PDF, Word, and Excel. This functionality enables easy sharing and presentation of risk analysis results with stakeholders.

Share Results as Electronic Interactive Reports: ModelRisk allows users to share simulation results as electronic interactive reports. According to the vendor, this feature enables stakeholders to access and interact with the results without sharing the underlying model, ensuring data privacy and facilitating collaboration.