Risk Analysis using Monte Carlo simulation in Excel for the Web, Excel for Macintosh or Excel for Windows
With the Risk Solver App, created by Frontline Systems, you can perform risk analysis using Monte Carlo simulation in your spreadsheet -- with Excel for the Web, Excel for Macintosh or Excel for Windows -- using a subset of key features from our Risk Solver Pro product for Excel. You can create and run simulations on tablets, phones, or anywhere a Web browser can be used. See More Analytics Apps.
Your simulation will be run in the cloud. Note that this means your model must be stored in the cloud, specifically in an Office 365 or SharePoint 2013 document library. The Risk Solver App can be used in both Excel 2013 and Excel Online, but its backend Solver Server cannot access workbooks on your local hard disk.
- Point and click to insert probability distributions into cells representing uncertain inputs in your model, and set their parameters.
- Choose from 30 different continuous distributions, from Beta to Weibull, and 8 discrete distributions, from Bernoulli to Poisson.
- Point and click to mark cells computing results that you want to monitor during the simulation.
Click to run and in a few seconds, you’ll have results from 1,000 Monte Carlo trials, with charts and statistics:
- Frequency, cumulative and reverse cumulative histograms
- Sensitivity (tornado) charts
- Scatter plots
- Summary statistics such as mean and standard deviation
Copy statistics and percentiles into a worksheet cell range with one click. You can even step through the Monte Carlo trials and see each result calculated on your worksheet.
Risk Solver App helps you go beyond what-if analysis to perform realistic risk analysis. Move from simple average-best-worst case analysis to see the full range of possible outcomes, and quantify your downside risk and upside potential. For applications in pharmaceuticals, oil and gas, finance and insurance, and manufacturing quality control, this type of risk analysis is essential.
When you click the Run button in the App, your model is queued for simulation by Frontline’s backend Solver Server, running on Windows Azure. This has two implications:
- The Solver Server VMs have a finite capacity, as currently provisioned (and paid for) by Frontline Systems. During periods of heavy use, there may be delays in solving.
If you would like to use the Risk Solver App in your organization and run Solver Server on your own server(s), please contact us. The free Risk Solver App supports up to 24 uncertain inputs and 12 uncertain outputs, and 1,000 Monte Carlo trials. To run simulations with more (even thousands of) uncertain inputs and outputs, and more (even hundreds of thousands of) Monte Carlo trials, please contact us about using Risk Solver App with Risk Solver Pro.