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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.

Description

Vensim®, the software of choice of thousands of analysts and consultants worldwide, is used to build high-quality simulations in business, scientific and environmental systems. Vensim integrates a powerful set of tools to develop, test, interpret, and distribute models. These tools include cause and effect diagramming, graphical or textual model constructions, easy reproductions of model structure by using subscripts and arrays, Monte Carlo sensitivity analyses, optimization, data management, and application interfaces. Additional features allow for advanced model resolution and fidelity. Vensim uses patented techniques for error detection, prevention, and rapid understanding of complex results.

API Access

Has API No 

API Access

Has API No 

Screenshots View All

Screenshots View All

Integrations

No details available.

Integrations

No details available.

Pricing Details

No price information available.
Free Trial Yes 
Free Version No 

Pricing Details

$50 per month
Free Trial Yes 
Free Version Yes 

Deployment

Web-Based No 
On-Premises No 
iPhone App No 
iPad App No 
Android App No 
Windows Yes 
Mac No 
Linux No 
Chromebook No 

Deployment

Web-Based No 
On-Premises No 
iPhone App No 
iPad App No 
Android App No 
Windows Yes 
Mac Yes 
Linux No 
Chromebook No 

Customer Support

Business Hours Yes 
Live Rep (24/7) No 
Online Support Yes 

Customer Support

Business Hours Yes 
Live Rep (24/7) No 
Online Support Yes 

Types of Training

Training Docs Yes 
Webinars No 
Live Training (Online) Yes 
In Person No 

Types of Training

Training Docs Yes 
Webinars No 
Live Training (Online) Yes 
In Person Yes 

Vendor Details

Company Name

Vose Software

Country

Belgium

Website

www.vosesoftware.com/products/modelrisk/

Vendor Details

Company Name

Ventana Systems

Founded

1985

Country

United States

Website

ventanasystems.com

Product Features

Risk Management

Alerts/Notifications No 
Auditing No 
Business Process Control No 
Compliance Management No 
Corrective Actions (CAPA) No 
Dashboard No 
Exceptions Management No 
IT Risk Management No 
Internal Controls Management No 
Legal Risk Management No 
Mobile Access No 
Operational Risk Management No 
Predictive Analytics No 
Reputation Risk Management No 
Response Management No 
Risk Assessment Yes 

Product Features

Computer-Aided Engineering (CAE)

CAD/CAM Compatibility No 
Finite Element Analysis No 
Fluid Dynamics No 
Import / Export Files No 
Integrated 3D Modeling No 
Manufacturing Process Simulation No 
Mechanical Event Simulation No 
Multibody Dynamics No 
Thermal Analysis No 

Simulation

1D Simulation No 
3D Modeling Yes 
3D Simulation No 
Agent-Based Modeling Yes 
Continuous Modeling Yes 
Design Analysis No 
Direct Manipulation No 
Discrete Event Modeling No 
Dynamic Modeling Yes 
Graphical Modeling No 
Industry Specific Database Yes 
Monte Carlo Simulation Yes 
Motion Modeling No 
Presentation Tools Yes 
Stochastic Modeling Yes 
Turbulence Modeling Yes 

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