With RDK 4.0, Risk Analysis Goes Enterprise-wide
DEVELOPER'S KIT 4.0:
A SHORTCUT TO WEB-ENABLED AND COLLABORATIVE MODELING
31 October 2001, Newfield, NY - Palisade Corporation announces the release of a ground-breaking, customizable tool to create enterprise-wide, web-enabled applications for risk analysis. It will allow companies to simulate the possible outcomes of any decision or business process and to evaluate their options accordingly.
The @RISK Developer’s Kit 4.0—the RDK—will make Palisade’s proprietary simulation technology available in any Windows application and coordinate with such dominant database packages as Oracle, IBM DB2, and Sybase. To facilitate sharing of models and collaboration, these custom simulation applications will be fully deployable via the Internet and corporate intranets.
The @RISK Developer’s Kit opens a broad new market for Palisade, in which the company’s simulation technology will be implemented on a much larger scale.
What Is Risk Analysis? And Why Use It?
Risk analysis is a mathematical technique for replicating any decision or process that involves uncertainty. In the case of Palisade’s risk analysis tools, the technique is one called Monte Carlo simulation.
Almost all business and industrial situations are riddled with uncertainty. A few of the most common applications of risk analysis include:
Risk Analysis Escapes the Spreadsheet
Based on the leading desktop add-in for risk analysis, @RISK, the RDK frees risk analysis and decision making from the spreadsheet. Now Monte Carlo simulation, as pioneered by Palisade, can be added to any enterprise system based on C++, Visual Basic, or any Windows programming language.
Because they are not committed to the routines spreadsheets require, models built in RDK applications run significantly faster.
The new RDK’s ActiveX/COM interface makes development of custom risk analysis solutions easy. An intuitive set of methods and properties allows developers to quickly set up a simulation model in their applications – defining input probability distributions, simulation settings and model logic. The RDK also makes it easy to handle events during a simulation run and process and display results.
Easy Web Access
Using the RDK 4.0 in enterprise-wide web applications will streamline the distribution of risk analysis tools to end users across many industries. Server-based risk analysis models – such as engineering applications and financial planning tools – can be accessed over the Internet from any browser, allowing users to enter model parameters and inputs, run simulations, and view results and graphs.
Take a Quick Tour of Risk Analysis —
Palisade’s Web showcase—www.eDecisionTools.com—provides an excellent introduction to the uses of risk analysis and dynamic demonstrations of how models are built, how they run, and how they can be deployed via the Web.
Talk with People Who Use RDK Applications
on an Everyday Basis
Risk analyses powered by the @RISK Developer’s Kit are currently running at major utilities, financial institutions, pharmaceutical manufacturers, and oil and gas producers. To contact experienced users of the RDK, call Holly Bailey at Main Street/Working Communications: 607-532-4708
System Requirements: IBM PC compatible Pentium or higher; Microsoft Windows 95, 98, Me, 2000, NT4; 16MB RAM installed.