monte carlo simulation tools crystal ball

They have a nice interface and engaging graphics. The basic version of Solver has been part Excel for more than 20 years… however they, like Vose, are relatively new to the simulation game. PART 4: Frontline Risk Solver 11.0 Additive Model Basically, when you highlight a cell, the Simulation & Model Details appear. Automatic color coding when an function is entered ( a feature that is most appreciated by the reviewer).

Distribution logic is encapsulated in excel functions.

Good interface, though some of the buttons are hard to understand or are too small.

Formula & Function based – can be applied through interface/ribbon.

Since the first section is relatively short, we also present Crystal Ball’s sample model. In this section, we present the comparison test, our objectives and the testing model. PART 1: Introduction, Methodology and Oracle Crystal Ball 11.1.2.1 You can also download the test model and compare for yourself. If you would like to try any of these packages, with the exception of Solver (you can download them from our Downloads sections and give them a whirl. The objective is to compare the ease, usability and efficiency of each tool and give people the opportunity to choose for themselves which tool reflects their needs and preferences better.Īt the time of this writing, all the tools have similar price points (around 800-1200$), with the exception of ModelRisk Standard, which is free. We are going to focus on those relating to inserting and copying input distributions as well as defining and analyzing model outputs. costs, budget items…), summing them up and analyzing the resulting sensitivity analysis. We have kept things simple, so we are not correlating any of the variables nor using any fancy math.Īs you will see, there are definite differences AND similarities regarding how these packages tackle building a model.

To keep the playing field level, we have used a simple additive model, which is simply defining a series of distributions (i.e. We hear a lot of talk about which tool is best and the truth is there is no perfect answer – it’s a personal thing dictated by user skill, preference and need.įor this reason, we have created a series of videos showing comparing how each tool is used to apply Monte-Carlo simulation to a model / spreadsheet. Over the last 3 months, we have seen 3 of the 4 major players in the Excel Monte-Carlo Simulation arena introduce new releases.

Monte carlo simulation tools crystal ball