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What is ModelRisk?

ModelRisk is an Excel add-in tailored for conducting Monte Carlo simulations, allowing users to integrate uncertainty into their spreadsheet models effectively. Since its launch in 2009, it has become a benchmark for innovation in the field, introducing a variety of technical features related to Monte Carlo techniques that facilitate the development, verification, and evaluation of risk models in a manner that aligns more closely with real-world complexities. By replacing uncertain values in Excel with specialized ModelRisk probability distribution functions, users can accurately depict the uncertainty surrounding those values. Subsequently, ModelRisk utilizes Monte Carlo simulation methods to generate thousands of potential scenarios automatically. While Excel is employed for a multitude of analytical tasks, ModelRisk uniquely focuses on assessing the uncertainty present in the numerical outcomes of Excel models. This powerful tool has been embraced by users from diverse industries for risk analysis, highlighting its adaptability and effectiveness in managing uncertainty. Moreover, its capability to visualize results not only enhances user comprehension but also aids in making well-informed decisions, ultimately leading to better strategic outcomes. In an increasingly complex world, ModelRisk empowers users to navigate uncertainty with confidence.

What is MCM Alchimia?

The latest iteration of the free software MCM Alchimia has been developed to improve the estimation of measurement uncertainty and calibrations through the Monte Carlo technique, aligning with JCGM 101 standards. This update introduces a detailed GUM framework uncertainty budget while continuing to support correlated variables and regression curves, as seen in prior versions. Moreover, it features speed enhancements that compete with established calculation and statistics software. Users now have the ability to conduct simulations utilizing direct, inverse, and total least squares methods, providing a range of analytical options. In addition, a custom application language is offered via an external module, allowing users to create specific functionalities tailored to their needs. The output report includes an extensive statistical analysis of the conducted simulations, ensuring users receive comprehensive insights into their findings. This release not only boosts the usability of the application but also significantly increases its efficiency, making it a valuable tool for professionals in various fields. Ultimately, the enhancements in this version position MCM Alchimia as a leading choice for those seeking reliable measurement uncertainty solutions.

Media

Media

Integrations Supported

Additional information not provided

Integrations Supported

Additional information not provided

API Availability

Has API

API Availability

Has API

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

Vose Software

Company Location

Belgium

Company Website

www.vosesoftware.com/products/modelrisk/

Company Facts

Organization Name

Alchimia Software

Company Location

Uruguay

Company Website

www.mcm-alchimia.com

Categories and 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

Categories and 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

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