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Description
Measurements are always subject to deviations from their true values, a phenomenon known as measurement uncertainty, especially when assessing or calibrating measurement tools or methodologies. To ensure quality control, it is essential to accurately quantify this uncertainty. GUMsim®, which adheres to the latest Guide to the Expression of Uncertainty in Measurement (GUM) and its supplement 1, utilizes sophisticated computational algorithms that facilitate a more effective determination of measurement uncertainty in line with ISO/IEC 17025 standards. The process of determining measurement uncertainty involves a mathematical relationship and statistical analysis of all variables influencing the measurement outcomes. To streamline this process, GUMsim provides a user-friendly input environment designed for various measurement models. Additionally, it offers a range of pre-defined application models that function as templates tailored to assist you in conducting specific evaluations, making it easier to embark on your measurement uncertainty assessments. This feature not only enhances the user experience but also encourages consistency in measurement practices across different applications.
Description
ModelRisk is an Excel add-in designed for Monte Carlo simulations, enabling users to incorporate uncertainty into their spreadsheet models. Since its inception in 2009, ModelRisk has set the standard for innovation in the industry, pioneering numerous technical features related to Monte Carlo methods that simplify the construction, auditing, and testing of risk models while ensuring they align more closely with real-world challenges. By substituting uncertain values in Excel with specialized ModelRisk probability distribution functions, users can accurately represent the uncertainty surrounding those values. Following this, ModelRisk employs Monte Carlo simulation techniques to automatically produce thousands of possible scenarios. Similar to how Excel serves various analytical purposes, ModelRisk specifically evaluates the uncertainty inherent in the numerical output of Excel models. This tool has been utilized by users across a wide array of industries for risk analysis, showcasing its versatility and effectiveness in addressing uncertainty. Additionally, the ability to visualize the results enhances user understanding and supports informed decision-making.
API Access
Has API
API Access
Has API
Integrations
No details available.
Integrations
No details available.
Pricing Details
€870 one-time payment
Free Trial
Free Version
Pricing Details
No price information available.
Free Trial
Free Version
Deployment
Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook
Deployment
Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook
Customer Support
Business Hours
Live Rep (24/7)
Online Support
Customer Support
Business Hours
Live Rep (24/7)
Online Support
Types of Training
Training Docs
Webinars
Live Training (Online)
In Person
Types of Training
Training Docs
Webinars
Live Training (Online)
In Person
Vendor Details
Company Name
QuoData
Country
Germany
Website
www.quodata.de/gumsim
Vendor Details
Company Name
Vose Software
Country
Belgium
Website
www.vosesoftware.com/products/modelrisk/
Product Features
Statistical Analysis
Analytics
Association Discovery
Compliance Tracking
File Management
File Storage
Forecasting
Multivariate Analysis
Regression Analysis
Statistical Process Control
Statistical Simulation
Survival Analysis
Time Series
Visualization
Product Features
Risk Management
Alerts/Notifications
Auditing
Business Process Control
Compliance Management
Corrective Actions (CAPA)
Dashboard
Exceptions Management
IT Risk Management
Internal Controls Management
Legal Risk Management
Mobile Access
Operational Risk Management
Predictive Analytics
Reputation Risk Management
Response Management
Risk Assessment
