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What is QMSys GUM?

The QMSys GUM Software is specifically developed to evaluate the uncertainty associated with physical measurements, chemical analyses, and calibration procedures. It offers three unique methods to calculate measurement uncertainty. The first method, GUF Method for linear models, is focused on linear and quasi-linear structures, adhering to the GUM Uncertainty Framework. This method calculates partial derivatives that represent the initial terms of a Taylor series, which helps in determining sensitivity coefficients for the equivalent linear model, and subsequently uses the Gaussian error propagation law to find the combined standard uncertainty. The second method, GUF Method for nonlinear models, is tailored for nonlinear scenarios where the outcomes show a symmetric distribution, using various numerical strategies such as nonlinear sensitivity analysis and higher-order sensitivity indices, along with quasi-Monte Carlo simulations that apply Sobol sequences. By incorporating these diverse methodologies, the software equips users with extensive tools for performing thorough uncertainty analysis in various measurement situations, ensuring robustness and precision in their results. Additionally, it enhances decision-making processes by providing clear insights into the levels of uncertainty involved.

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.

Media

Media

Integrations Supported

Additional information not provided

Integrations Supported

Additional information not provided

API Availability

API Availability

Pricing Information

Pricing not provided
Free Trial Offered?

Pricing Information

Pricing not provided
Free Trial Offered?

Supported Platforms

Windows

Supported Platforms

Windows

Customer Service / Support

Standard Support
Web-Based Support

Customer Service / Support

Standard Support
Web-Based Support

Training Options

Documentation Hub
On-Site Training

Training Options

Documentation Hub
Online Training

Company Facts

Organization Name

Qualisyst

Date Founded

1994

Company Location

Bulgaria

Company Website

www.qsyst.com/qualisyst_en.htm

Company Facts

Organization Name

Vose Software

Company Location

Belgium

Company Website

www.vosesoftware.com/products/modelrisk/

Categories and Features

Statistical Analysis

Analytics
Association Discovery
Compliance Tracking
File Storage
Multivariate Analysis
Regression Analysis
Statistical Simulation
Visualization

Categories and Features

Risk Management

Risk Assessment

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