“We have used @RISK to model financial issues in a diverse set of consulting projects, including offshore oilfields, water and sewer providers, and loan servicing. We have found @RISK to be a useful tool for helping clients to reach the optimal decision.
“Taking this opportunity, would like to thank Palisade for excellent products and dedicated customer support! So far I have 'assimilated' your @RISK and StatTools, I've worked with Minitab before, and now abandoned it altogether since StatTools is so much better! Cannot really compare @RISK with anything else, but what I get out of it works 100% for me.”
“@RISK is a valuable tool for operations and strategic development in biopharmaceuticals.”
“I use @RISK 5.0 and cannot speak highly enough about it.”
“I downloaded this @RISK trial for an enterprise risk management class I am taking at the University of Georgia. This tool is very powerful and I would recommend it to anyone needing the ability to run simulations on differing risk profiles.”
“Palisade has done a GREAT job with @RISK 5.0! The user friendliness of this new version allows for quicker and easier modeling capabilities. One of its key new features is the ability to eliminate @RISK functions from probabilistic models. In our experience, this has allowed for a better sharing of models with 'Non - @RISK' clients. Although they are unable to grasp the probabilistic features of the models, they are still able to understand the framework applied to construct the models. Another great new feature is the ability to browse simulation results while viewing the model. This feature makes it easier to navigate the model and analyze results simultaneously. Also, the new toolbar allows for easy navigation through the different options / settings of @RISK.”
“@RISK 5.0 is intuitive, flexible and technically excellent. It is a quantum leap in all aspects of functionality and user experience.”
“I think @RISK 5.0 is superb! I can now easily do correlations, that I was reluctant to demonstrate before in seminars. The whole interface is so much better that I am really looking forward to the chance to show it off.”
“The look and feel of @RISK 5.0 is a step up from earlier versions. It seems much more intuitive. In particular, the instant graphics and ability to select columns has been a great help. This package seems really well put together.”
“I was pleased with the addition of compound distributions, as this capability will be very helpful in my simulations of property/casualty insurance losses. Also, the look of the graphical output has really improved.”
“I found @RISK 5.0 to be very useful.”
“The user interface is significantly improved in @RISK 5.0 along with the output.”
“@RISK really helps sort out the influential factors.”
“Your software is just great. Every year I give a course in environmental risk assessment at Rhodes University. The course attendants are all always impressed with @RISK. If I ever ran short on environmental consulting work (my business), I would run monthly courses on risk assessment focused on your software.”
“@RISK’s ability to handle highly uncertain information made it invaluable in coping with a disaster like Katrina.”
“What a great program @RISK is. I have been using it since it emerged in the 80's to replace an application a colleague and I developed for our own use before that. The whole approach was considered radically innovative by management then. I received the highest award Lockheed Martin gives annually to 50 employees out of 100,000+ for 'technical innovations' in part from using @RISK throughout my team's work in aviation program analysis from '84-'95.”
“I have found @RISK to be an extremely robust product. Using this program I can now do analyses in about 20 minutes that used to take more than 2 days.”
“We start by building a static model, and not surprisingly, the results look great. Then we add risk into the model using @RISK for a proper risk analysis, and the picture changes. The students quickly learn that there are possible negative outcomes. With @RISK they quickly turn static models into dynamic, probabilistic models that show all the possible outcomes. Students find @RISK easy to use – it takes very little time to become proficient. When the students complete the course, they understand risk, they understand how @RISK can be used to analyze risk, and once they understand the scope of risk, they have the tools to come up with a plan to mitigate risk.
I don’t see how a manager can be effective without considering the risks inherent in any business decision. In other words, I don’t know how they live without @RISK.”
“Since the future is unknown, it would be implausible to use point estimates to represent future values of critical success factors. Range estimates are an improvement, but @RISK is even better because it is able to reflect the important fact that some values within the plausible range may be more likely than others. More than that, the correlation capability of @RISK allows the analyst to model the fact that co-movements of variables in the same direction may not be as likely as co-movements in the opposite direction.
Using @RISK’s tornado diagram to evaluate the sensitivity of the outcomes to each of the input variables in your simulation is particularly useful in focusing management attention on the factors that matter most to their organizations.
Just like Excel itself, @RISK does its work without involving you in its computational complexities. So students who may have been scared of stats and data analysis before can feel perfectly at ease creating their simulations––and so, they want to do more. “@RISK represents a major advance in the business analyst’s toolkit. By sparing the analyst the trouble of having to reinvent simulation in an Excel environment, @RISK allows the analyst to focus on structuring problems that make managerial sense and on interpreting results for the purpose of supporting executive decisions.”
“@RISK was vital to our simulation model. It allowed us to incorporate uncertainties and run random simulations on the various scenarios. @RISK’s ability to correlate distributions of random variables was essential to the model. Additionally, we used @RISK’s output statistics to compare the various model scenarios. @RISK allowed us to incorporate uncertainties and correlations, and to systematically evaluate each of the farm policy tools.”
“I really appreciate working with @RISK. It is a simple-to-use tool that calculates scenarios for a given situation. The result tells you how likely it is that a scenario will happen. The simulation results can be displayed as graphs and charts that have presentation quality.”
“At Infineon we have realized that systematic risk management can improve our decisions in many applications. We therefore employ the methodology of quantitative risk analysis to analyse our development projects as well as when assessing general financial decisions.
The use of @RISK for Project and @RISK for Excel from Palisade forms a fundamental component of successful risk management within Infineon. We have already trained more than 1,000 employees on how to use these tools. We are very pleased with the good service we've received from Palisade.”
“The launch of a new product involves uncertainties that traditional forecasting techniques cannot solve. I use @RISK to minimize the risks involved in launching a new product to the market without historical data.”
“We've trained well over a thousand people throughout the company on @RISK.”
“We love it because it incorporates BestFit and gives us the flexibility to evaluate alternative distributions on screen.”
“We're always working with incomplete information. We're looking for results we can be at least 90 percent certain of. I take @RISK everywhere I go in the company.”
“Simple spreadsheets tell a number. @RISK paints a picture! Show chief executives they have an 80% confidence level in these outcomes, and they come to a decision in minutes!”
“When you can manipulate multiple variables, the model becomes more sophisticated. It allows you to make additional assumptions which take your analysis to another level than was possible by just using Excel’s Add-in functions. You need @RISK to assess the effect of [multiple] variables. @RISK will automatically rank the correlations and do regression analyses for you.”
“@RISK is the easiest risk analysis tool on the market, with the most capabilities. Risk analysis within Fluor has moved up to a different level because of Palisade training on the software.”
“It is very important for these new decision makers to be entirely comfortable with the overwhelming amount and complexity of information they’ll have to deal with when they when they leave the school for that first big job. And we’re convinced that @RISK is the tool that can provide the most sophisticated perspective on the information they’ll use for decision making.”
“The bottom line is, with @RISK by Palisade, we can now quantify economic uncertainly with considerable insight. The analytics in @RISK are up front, available, and flexible enough to provide me with everything I need. It’s obvious that @RISK is a great software package for commercial use, but for us, we see equal value as a teaching tool.”
“During our everyday consulting work we are using @RISK 4.5 Professional for risk analysis. A major part of our calculations is done in Excel; hence, this tool is very convenient for us, virtually providing an additional function. Thus the effort needed to learn how to use the software is relatively small. Many functions can be recognised intuitively and are usable like those known from Excel. Furthermore, an online tutorial offering a good overall view and a manual for questions of detail whilst using the application are available.
Since we are using this tool we can execute more complex and statistically established calculations in risk management for our customers. For instance, the fast identification of the best fitting distribution of any market factors has improved the quality of our results. Mainly in the risk calculation of the rarely normally distributed yields of raw material factors this function meets our needs. Also, before we started using @RISK, complex simulations with freely definable distributions of the influent parameters were either impossible or could only be managed under considerable expenditure. With @RISK we are now able, and this without the necessity of additional PC capacity, to process thousands of iterations. Extremely well elaborated is the graphics component; distributions, input factors, results etc. are presented in various graphic formats automatically.
The really convenient issue of @RISK is that not only the input factors are independent from the input structure but the results can be exported into Excel to be processed further, too. We are pleased to recommend @RISK because it represents good value for money.”
“We have been using @RISK in core MBA teaching and electives since 1994. The @RISK sessions have been very popular with our students and helped us communicate better important concepts about risk and return. The software is user-friendly and well integrated into spreadsheets, which makes it very easy for students to start using it with minimal advance training. It also provides a range of advanced features, such as sensitivity and scenario analysis, tornado diagrams and parametric analysis that are appealing to managers with a need for sophisticated risk analysis. Many students use @RISK in their project work and, after they complete the MBA programme, in their working environment. We believe that tools such as @RISK are becoming essential for modern managers.”
“@RISK is an excellent tool for extending risk analysis in Excel. Delegates in modelling courses appreciate the user-friendly interfaces and clear reporting.”
“We use the DecisionTools Suite for practical geological and engineering geological problems where decision and risk analysis models are of major relevance. We found it extremely useful, easy to use and an invaluable tool for students.”
“Our research and analysis department is using @RISK as a core part of the budgetary preparation process. Applying @RISK in the early stages of the process, when our goal is to prepare forecasts, has greatly improved our capabilities to define all the risk factors involved. Furthermore, the presentation options included in the package have greatly improved our communication between departments inside our institution, as well as with the interested public.”
“Decision and Risk Analysis is a core part of the Management Science module in the Business Information Technology degree at Kingston. Before, students found it difficult to develop and run small decision and risk models using Excel alone. Now they can use the full capabilities of the powerful Excel add-ins that come with Palisade's DecisionTools Suite to run and analyse even full-scale models in a very efficient manner. My lectures have become more efficient too thanks to the graphic facilities available in the software. There's nothing better than a good graph to illustrate the concepts behind decision and risk analysis and Palisade's tools help me enormously in this task.
PrecisionTree, TopRank and @RISK are all used intensively in our computer-supported tutorials. Students learn quickly to build decision and risk analysis models on the hoof because they are working in an (spreadsheet) environment that is already familiar to them. They not only learn but also have fun! In summary, Palisade's DecisionTools Suite has revolutionised our delivery of the Management Science module at Kingston!
The DecisionTools Suite Professional is currently being used by approximately 150 Degree Students, with this number rising over the next three months, to an anticipated 180.”
“We use @RISK to quantify and analyse business risks that are involved in international venture transactions. Adding @RISK to company valuation techniques like the Discounted Cash Flow(DCF) gives us a more realistic view on future performance developments and lets us do more accurate investment decisions. Especially the ease of use through the Excel-add-in, the richness of distribution functions and the powerful sensitivity analysis functionality makes @RISK fun to work with.”
“@RISK is a wonderful tool which helps business people make accurate, efficient financial projections, as well as accurately establish which risks their investments are exposed to.”
“Finding the limits of @RISK and the DecisionTools Suite is like finding the limits of Excel - there are none.”
“First things first: you really did an outstanding job! This new edition of @RISK 4.5 is the kind of risk tool that everyone needs regardless of his/her professional field.
I found tons of enhancements that helped me achieve greater modeling flexibility, especially in terms of Value at Risk (VaR) and Monte Carlo Simulation. I'd like to highlight some of the most relevant findings:
- The Define Distribution Window makes me define uncertainty easier than ever
- Quick Reports are really fast and straight to the point in terms of critical risk analysis results
- @RISK Goal Seek definitely outperforms current Excel functions, because @RISK uses multiple simulations to determine the input value that achieves the specific goal.
- Stress Analysis is certainly what I was looking for in order to get better VaR analysis.”
“We are a major non-ferrous metals producer in México, the first gold producer in México, and first Silver Producer in the World. We have been @RISK users since 1992 and we use it mainly for Projects Economics Risk Evaluation and Analysis. We have found it is very easy to adapt it to uncertainty evaluation as well. For example we have used @RISK to evaluate the final random error from a chain of manufacturing operations based on variability of statistics. @RISK functions describe uncertainty in every operation.
I have been using @RISK personally since 1992 and this is the finest product I have tried ever. Installation was quite streamlined - no problems at all even when I have my machine saturated with many applications. It's faster than version 4.0 on execution. Model building is faster with the toolbar commands and Define Distribution window. Reporting has been optimized, making it easy for non-frequent users. Direct reporting to Excel is very well implemented and elegant. The Advanced Analysis tools are also well implemented.”
“There are some very nice features... Quick Reports are an excellent improvement. Overall, @RISK 4.5 looks great.”
“The @RISK 4.5 multimedia tutorial is an excellent idea!”
“@RISK 4.5's Quick Reports are good - a valuable addition.”
“I wish I were finding bugs in @RISK 4.5 to help, but I'm not. I'm using @RISK as I normally do! I really like the DecisionTools line and use them in my federally-funded research. Great job!”
“@RISK 4.5's Advanced Sensitivity Analysis is a very welcome new addition, and I enjoy working @RISK very much.”
“Alternate Parameter Distribution Functions: I have used the James Murtha P10, P90 formula (Oil and Gas Journal, 1994) quite extensively in some of my models. The Alternate Parameter distribution functions will simplify my models considerably. The Alternate Parameter distribution functions are a significant addition to the program. They have added significant capability to the running of some of my models. Many oil and gas resource estimators (US Geological Survey, Geological Survey of Canada) report the median value and a low and upside value. I need to be able to reproduce their distributions and the Alternate Parameter distribution functions make this very easy.
Quick Reports: This is a significant improvement in the reports part of @RISK, in particular the ability to send the charts in native Excel format. I very rarely used the graphics in a picture format. The new feature allows me to send all the graphs at once rather than one at a time as I have been used to. The one page format of results is very good. Goal Seek: A useful addition.”
“I have used the whole range of products under the DecisionTools umbrella, and cannot speak highly enough of the quality, power and flexibility of the entire software suite. For example, @RISK and PrecisionTree have been applied to risk assessments for oil and gas projects, modelling of extreme environmental loads, as well as evaluation of biological and food-related hazards. I have yet to find a risk problem I could not handle with the software!”
“As a former managing partner in an industrial firm I have been using almost your complete range of Excel-based @RISK products for decision making in complex problem situations, mainly in production, marketing and project management for more than 10 years. I am referring not only to @RISK itself, but also to your exceedingly beneficial additional programmes like BestFit, RISKView and, of course, @RISK for Project.
I am pleased to confirm that the acquisition of your software components has proven to be of surpassing performance on numerous occasions and in the most variegated operational areas so that the purchasing price was retrieved more than hundred fold already. It is the intuitive operator guidance that I want to point out commendatory because it excels all your programmes I have got to know so far.
I would like to allude to the fact that none of the Palisade products I am using has ever caused a system problem or a system break down.”
“I particularly like the easy handling of @RISK. @RISK makes it simple to master Monte Carlo simulation. It is uncomplicated for the beginner and a joy for the expert.”
“When I first read about Palisade's @RISK and BestFit software, I simply had to have it. This software is really amazing. For some years I've been looking for a flexible product like this. No more stressful late nights working with static Excel spreadsheets in order to meet my clients' deadlines. Palisade's software really makes it easier for me to do my work in less time and with much more fun, too!”
“@RISK is an excellent tool for simulation. I find it easy to use and powered by excellent features...Its charting power is unmatched.”
“The benefit of having used @RISK is that you'll now have more information about the statistical probability of events rather than just having to rely on your own experience…and your gut feeling.”
“[@RISK 4.0] can provide any organization with invaluable insight into the potential risks and rewards of complex business decisions.”
“@RISK is an excellent tool for simulation. I find it easy to use and powered by excellent features...Its charting power is unmatched.”
“[@RISK] is an outstanding package. [It is] powerful, efficient, and fun to use. And [the] cost is reasonable.”
“DecisionTools is a really important suite of tools, and I applaud Palisade¹s effort to better integrate some of them into the @RISK modeling framework. BestFit is a really solid distribution selector, and @RISK is a good backbone for the qualitative and quantitative work I perform. I like the flexibility.”
“We have a collection of professional services under one roof that targets economic or project development. &renovation of a small hotel located in Florida. Without @RISK 4.0 I doubt seriously if we would have been able to craft the deal to a successful conclusion. @RISK 4.0 might be compared to the new night-vision heads-up display that GM is offering on its new Cadillacs. It enables you to "see" things that you cannot otherwise see, and react or make business decisions accordingly.”
“For me the greatest strength of @RISK is that it adds functionality to spreadsheeting, a skill that all our students already possess. @RISK adds yet another dimension to sensitivity analysis. In addition, @RISK can be used to visually illustrate many of the big ideas in statistical thought, and this can be done easily within a classroom/laboratory environment.”
“I have used the @RISK software for about 10 years now, and have found it extremely useful for constructing simple as well as moderately complex Monte Carlo simulation models. Using the tool, it has been possible to develop simulation models directly reflecting the epidemiological relationships relevant to the simulation problem without requiring computer programming skills.”
“@RISK… takes the ‘if’ out of what-if situations and lets business users make more intelligent decisions.”
“Monte Carlo simulation represents a significant advance in the black art of modeling the future. […] Monte Carlo technology will make us – and our clients – a little smarter about what we can and cannot know about tomorrow and the days that follow.”
“DecisionTools is a superior brand of products directed at what I consider the gravest and most consequential activities of most American businesses, Risk Assessment and Decision Making. ”