Press Release Summary:
Integrating with Microsoft Excel via Office 2007-style interface, @RISK v5.0 performs Monte Carlo simulation to identify and minimize uncertainty in any decision, course of action, or process. @RISK Library allows sharing of specific probability distributions and simulation results, while live simulation updating helps user explain simulation to others. Compound Function eliminates thousands of separate frequency and severity distributions by combining them into single function.
Original Press Release:
New @RISK 5.0 Raises the Bar for Decision Support
London, United Kingdom; Palisade Corporation, the leading developer of analytic software for decision support, has today announced the release of a comprehensively upgraded new version of its leading risk analysis software, @RISK. An add-in to Microsoft Excel, @RISK performs Monte Carlo simulation to identify and reduce uncertainty in any decision, course of action, or process.
Under development for the past three years, @RISK 5.0 has been redesigned from the ground up to facilitate corporate-wide collaboration and model sharing. Version 5.0 provides total and seamless integration with Excel via its completely new Office 2007-style interface.
Many of the improvements and additions to the new version are customer-driven. They are Palisade's responses to needs and ideas expressed by decision-makers who use the tools on a day-to-day basis-and they are not commercially available elsewhere.
Here are some highlights unique to @RISK 5.0:
o All-New Interface allows users to analyze risk without ever leaving their Excel spreadsheet
o @RISK Library an SQL database that allows sharing of specific probability distributions and simulation results
o Compound Function eliminates thousands of separate frequency and severity distributions by combining them into a single function
Additional improvements in @RISK 5.0 include:
o Function Swap lets non-@RISK users share and edit @RISK spreadsheets
o Improved customisable graphics for improved communication of analyses to colleagues
o Live simulation updating to help explain simulation to others
o Improved sensitivity analysis reduces irrelevant data
o Dedicated Six Sigma functions for improved quality analysis
Optimisation in the Industrial Edition
The Industrial edition of @RISK 5.0 includes the all-new RISKOptimiser 5.0, the powerful optimization add-in to Excel. RISKOptimiser combines genetic algorithm optimisation with Monte Carlo simulation to solve complex optimisation problems-like resource allocation, for example-under uncertainty.
@RISK Standard Edition Â£795.00
@RISK Professional Edition Â£995.00
@RISK Industrial Edition Â£1395.00
One of the first quantitative tools for business intelligence, @RISK was introduced in 1987 and has held a substantial sales lead in the field of risk analysis since then. It is available in six languages and used by more than 150,000 people in sectors that range from finance and insurance to engineering and construction, from defense to energy to pharmaceuticals.
Palisade is the leader in risk and decision analysis software for Microsoft Excel and Project. Its European Headquarters are based in London. Organisations around the globe are using Palisade's software for their decision analysis solutions including the likes of AT&T, Hewlett Packard, Hitachi, IBM, Proctor & Gamble, Dow Chemical, Citigroup, Bristol Myers-Squibb, PricewaterhouseCoopers, Unilever, London Underground, Infineon and Statoil.