Comparison of risk analysis Microsoft Excel add-ins

Last updated August 24, 2022

The following is a comparison of various add-in packages available to do Monte Carlo probabilistic modeling and risk analysis. Add-ins covered are for Microsoft Excel on Windows. Mac software and tools for other platforms, such as R or Matlab are not included.

General information


Name	Company name	Office location(s)	Product first released	Last stable version	Software license	License options	System Requirements	Spreadsheet used
@RISK Industrial^[1]	Palisade Corporation	Australia, Japan, UK, USA	1987	7.5	Proprietary	Single user, network license	Windows XP+	Excel 32-bit (Excel 2007+), Excel 64-bit
@RISK Professional^[1]	Palisade Corporation	Australia, Japan, UK, USA	1987	7.5	Proprietary	Single user, network license	Windows XP+	Excel 32-bit (Excel 2007+), Excel 64-bit
Argo^[2]	Booz Allen Hamilton	USA	2012	4.1	Freeware	N/A	Windows XP+	Excel 32-bit (Excel 2007+), Excel 64-bit
Crystal Ball^[3]	Oracle Corporation	USA	1987	11.1.4.4	Proprietary	Single user	Windows 2003+	Excel 32-bit (Excel 2003+), Excel 64-bit
Crystal Ball + Decision Optimizer^[3]	Oracle Corporation	USA	1987	11.1.4.4	Proprietary	Single user	Windows 2003+	Excel 32-bit (Excel 2003+), Excel 64-bit
DiscoverSim + SigmaXL^[4]	SigmaXL Inc.	Canada	2012	2.1	Proprietary	Single user	Windows Vista+	Excel 32-bit (Excel 2010+), Excel 64-bit
MC FLO^[5]	MC FLOsim	Switzerland	2016	Fátima III	Proprietary	Single user	Windows 2000+	Excel 32-bit (Excel 2010+), Excel 64-bit
ModelRisk^[6]	Vose Software	Belgium	2008	6.1	Proprietary	Single user, network license	Windows XP+	Excel 32-bit (Excel 2003+), Excel 64-bit
Monte Carnival^[7]	Monte Carnival	USA	2018	1.0	Proprietary	Single User	Windows 95+	Excel 32-bit (Excel 1997+), Excel 64-bit
Quantum XL^[8]	Sigmazone	USA	2010	3.50.04	Proprietary	Single user	Windows XP+	Excel 32-bit (Excel 2000+), Excel 64-bit
Risk Analyzer	Add-ins.com	USA	2003	11.02	Proprietary	Single user	Windows 2000+	Excel 32-bit (Excel 97+), Excel 64-bit
Risk Kit Suite^[9]	Wehrspohn GmbH & Co. KG	Germany	2007	7.10	Proprietary	Free, single user, network license	Windows 2000+	Excel 32-bit (Excel 2003+), Excel 64-bit
Risk Solver Pro^[10]	Frontline Systems	USA	2007	15.0	Proprietary	Single user, network license	Windows XP+	Excel 32-bit (Excel 2003+), Excel 64-bit, Excel Online
Risk Solver Pro + Premium Solver Pro^[10]	Frontline Systems	USA	2007	15.0	Proprietary	Single user, network license	Windows XP+	Excel 32-bit (Excel 2003+), Excel 64-bit, Excel Online
RiskAmp Personal^[11]	Structured Data LLC	USA	2005	11.5	Proprietary	Single user	Windows 2000+	Excel 32-bit (Excel 2003+), Excel 64-bit
RiskAmp Professional^[11]	Structured Data LLC	USA	2005	11.5	Proprietary	Single user	Windows 2000+	Excel 32-bit (Excel 2003+), Excel 64-bit
SAFE TOOLBOXES^[12]	Safe Quantitative Technologies	USA	2016	1.0	Proprietary	Single user	Windows 2000+	Excel 32-bit (Excel 2003+), Excel 64-bit
Simtools xla^[13]	Roger Myerson, University of Chicago	USA	?	3.31a	Freeware	N/A	Windows 95+	Excel 32-bit (Excel 5+)
Simulación 5.0^[14]	José Ricardo Varela	Argentina	2020	5.0.3	Freeware	N/A	Windows XP+	Excel 32-bit (Excel 2003+), Excel 64-bit
SimulAr^[15]	Luciano Machain	Argentina	?	2.5	Freeware	N/A	Windows XP+	Excel 32-bit (Excel 2003+)
Simulation Master Premium^[16]	Vortarus Technologies LLC	USA	2017	18.12.03	Proprietary	Single user	Windows XP+	Excel 32-bit (Excel 2007+), Excel 64-bit
Simulation Master Standard^[16]	Vortarus Technologies LLC	USA	2017	18.09.01	Proprietary	Single user	Windows XP+	Excel 32-bit (Excel 2007+), Excel 64-bit
XllMonte^[17]	KALX, LLC	USA	?	1.0.0.23	Freeware	N/A	Windows 95+	Excel 32-bit (Excel 2007+), Excel 64-bit
YASAI^[18] and YASAIw^[19]	Rutgers University and Washington State Department of Ecology	USA	2001	2.4, 2.0w29	Freeware, Open source	N/A	Windows 95+	Excel 32-bit (Excel 97+), Excel 64-bit

Technical specification I

Name	Distribution fitting	Correlation fitting^[20]	Time series fitting	Decision trees	Optimizer included	Database connectivity	VBA calls to functions^[21]	C++ calls to functions^[22]	Six sigma supported
@RISK Industrial	Yes	Yes	Yes	PrecisionTree option	Yes	No	Yes	Yes	Yes
@RISK Professional	Yes	Yes	No	PrecisionTree option	No	No	Yes	Yes	Yes
Argo	No	Yes	No	No	Yes	No	No	No	No
Crystal Ball	Yes	No	Yes	No	No	No	Yes	No	Yes
Crystal Ball + Decision Optimizer	Yes	No	Yes	No	Yes	No	Yes	No	Yes
Crystal Ball EPM + Decision Optimizer	Yes	No	Yes	No	Yes	Yes	Yes	No	Yes
DiscoverSim + SigmaXL	Yes	Yes	Yes	No	Yes	No	No	No	Yes
MC FLO	Yes	Yes	Yes	No	No	No	Yes	No	No
ModelRisk	Yes	Yes	Yes	No	No	Yes	Yes	Yes	Yes
Monte Carnival	No	No	No	No	No	No	No	No	No
Quantum XL	Yes	No	No	No	Yes	No	No	No	Yes
Risk Analyzer	No	No	No	No	No	No	No	No	No
Risk Kit Suite	Yes	Yes	Yes	No	No	No	Yes	Yes^[23]	No
Risk Solver Pro	Yes	No	XLMiner option	Yes	No	XLMiner option	Yes	Yes	Yes
Risk Solver Pro + Premium Solver Pro	Yes	No	XLMiner option	Yes	Yes	XLMiner option	Yes	Yes	Yes
RiskAmp Personal	No	No	No	No	No	No	No	No	No
RiskAmp Professional	No	No	No	No	No	No	No	No	No
SAFE TOOLBOXES	Yes	Yes	Yes	No	No	No	Yes	No	Yes
Simtools xla	No	No	No	Functions / macros	No	No	Yes	No	No
Simulación 5.0	Yes	No	No	No	Yes	No	Yes	No	No
Simular	Yes	No	No	No	Yes	No	Yes	Yes	No
Simulation Master Premium	Yes	Yes	Yes	DTace option	Yes	No	Yes	No	No
Simulation Master Standard	No	No	No	DTace option	No	No	No	No	No
YASAI and YASAIw	No	No	No	No	No	No	Yes	No	No

Technical specification II

Name	Converters for	Probability calculation functions^[24]	UDF error analysis^[25]	Extreme value modeling^[26]	Expert elicitation tools^[27]	Data previsualizer	ODE and numerical integration	Assumption library
@RISK Industrial	Crystal Ball	Yes	No	No	Yes	Yes	No	Yes
@RISK Professional	Crystal Ball	Yes	No	No	Yes	Yes	No	Yes
Argo	No	Yes	No	No	No	Yes	No	No
Crystal Ball	No	Yes	No	No	No	Yes	No	No
Crystal Ball + Decision Optimizer	No	Yes	No	No	No	Yes	No	No
DiscoverSim + SigmaXL	No	Yes	No	No	No	Yes	No	No
MC FLO	No	Yes	Yes	Yes	Yes	Yes	No	No
ModelRisk	Crystal Ball, @RISK	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Monte Carnival	No	No	No	No	No	No	No	No
Quantum XL	No	No	No	No	No	No	No	No
Risk Analyzer	No	No	No	No	No	No	No	No
Risk Kit Suite	No	Yes	Yes	Yes	Yes	Yes	No	No
Risk Solver Pro	No	No	No	No	No	No	No	No
Risk Solver Pro + Premium Solver Pro	No	No	No	No	No	No	No	No
RiskAmp Personal	No	No	No	No	No	No	No	No
RiskAmp Professional	No	No	No	No	No	No	No	No
SAFE TOOLBOXES	No	Yes	No	Yes	No	Yes	Yes	Yes
Simtools xla	No	No	No	No	No	No	No	No
Simulación 5.0	No	Yes	No	No	No	Yes	No	No
Simular	No	No	No	No	No	No	No	No
Simulation Master Premium	No	No	Yes	No	No	No	No	No
Simulation Master Standard	No	No	Yes	No	No	No	No	No
YASAI and YASAIw	No	No	No	No	No	No	No	No

Simulation Controls

Name	Control of seed values	Maximum numbers of draws^[28]	Random number generator	Lock / unlock random variables^[29]	Multiple simulation runs^[30]	Run macros before/after simulation^[31]	Stop run when output generates error^[32]	Apply specific sample in model^[33]	Precision control^[34]	Spreadsheet interpreter^[35]	Sampling method^[36]
@RISK Industrial	Yes	Unlimited	Several	Yes	Yes	Yes	Yes	Yes	Yes	No	MC, LHS
@RISK Professional	Yes	Unlimited	Several	Yes	Yes	Yes	Yes	Yes	Yes	No	MC, LHS
Argo	Yes	20000	Mersenne Twister	Yes	No	No	No	Yes	No	Yes	MC, LHS
Crystal Ball	Yes	Unlimited	MCG^[37]	Yes	Yes	Yes	Yes	No	Yes	Yes	MC, LHS
Crystal Ball + Decision Optimizer	Yes	Unlimited	MCG^[37]	Yes	Yes	Yes	Yes	No	Yes	Yes	MC, LHS
DiscoverSim + SigmaXL	Yes	1e7	Marsaglia KISS + Monster	No	No	No	No	No	No	Yes	MC, LHS
MC FLO	Yes	Unlimited / Constrained by Excel	Mersenne Twister	Yes	Yes	No	Yes	Yes	No	No	MC
ModelRisk	Yes	Unlimited	Mersenne Twister	Yes	Yes	Yes	Yes	Yes	Yes	No	MC
Monte Carnival	No	Unlimited	Several	Yes	Yes	No	Yes	No	No	No
Quantum XL	No	10000	Mersenne Twister	No	No	No	No	No	Yes	Yes	MC
Risk Analyzer	No	Constrained by Excel	?	No	No	No	No	No	No	No	MC
Risk Kit Suite	Yes	Unlimited	Mersenne Twister	No	Yes	Yes	Yes	No	No	No	MC
Risk Solver Pro	Yes	Unlimited	Several	Yes	Yes	Yes	No	Yes	No	Yes	MC, LHS, Sobol
Risk Solver Pro + Premium Solver Pro	Yes	Unlimited	Several	Yes	Yes	Yes	No	Yes	No	Yes	MC, LHS, Sobol
RiskAmp Personal	Yes	Constrained by Excel	Mersenne Twister	Yes	No	No	No	No	No	No	MC, LHS
RiskAmp Professional	Yes	Constrained by Excel	Mersenne Twister	Yes	No	No	No	No	No	No	MC, LHS
SAFE TOOLBOXES	Yes	Unlimited	Mersenne Twister, RanLux and GFSRG	Yes	Yes	Yes	No	Yes	No	No	MC, Antithetic, Fauré,Halton
Simtools xla	No	Constrained by Excel	Excel's RAND	No	No	No	No	No	No	No	MC
Simulación 5.0	Yes	1.000.000	Several	Yes	No	Yes	No	Yes	Yes	No	MC, LHS
Simular	No	Constrained by Excel	?	Yes	No	No	No	No	No	No	MC
Simulation Master Premium	Yes	Constrained by Excel	MCG,^[37] Excel's RAND	Yes	Yes	No	No	No	No	No	MC
Simulation Master Standard	Yes	Constrained by Excel	MCG,^[37] Excel's RAND	Yes	No	No	No	No	No	No	MC
YASAI and YASAIw	Yes	Constrained by Excel	L'Ecuyer's MRG32k3a^[38]	No	Yes	Yes	No	No	No	No	MC

Reporting results

Name	Includes reporting tool	Report export formats^[39]	Save and retrieve results	Editing of graphs^[40]	Histogram	Cumulative	Time series plot	Spider^[41]	Tornado	Scatter	Pareto	Box	Statistics	Simulation data	Results filtering^[42]
@RISK Industrial	Yes	Excel, bitmap	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes
@RISK Professional	Yes	Excel, bitmap	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Argo	Yes	Excel, bitmap	Yes	Yes	Yes	Yes	No	Yes	Yes	Yes	No	No	Yes	Yes	No
Crystal Ball	Yes	Excel	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	No	Yes	Yes	Yes
Crystal Ball + Decision Optimizer	Yes	Excel	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	No	Yes	Yes	Yes
DiscoverSim + SigmaXL	Yes	Excel	Yes	Yes	Yes	No	Yes	No	Yes	Yes	Yes	Yes	Yes	Yes	Yes
MC FLO	Yes	Excel	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes
ModelRisk	Yes	PDF, PowerPoint, Word, Excel, ModelRisk ResultsViewer, bitmap	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Monte Carnival	Yes	Excel	Yes	Yes	No	No	No	No	No	No	No	No	Yes	Yes
Quantum XL	No	N/A	Excel	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Risk Analyzer	No	N/A	Excel	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Risk Kit Suite	Yes	Excel	No	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	No
Risk Solver Pro	Yes	Excel	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	No	Yes	Yes	Yes	Yes
Risk Solver Pro + Premium Solver Pro	Yes	Excel	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	No	Yes	Yes	Yes	Yes
RiskAmp Personal	No	Excel	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
RiskAmp Professional	No	Excel	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SAFE TOOLBOXES	Yes	Not required.	Yes	Yes	Yes	Yes	Yes	No	No	Yes	No	Yes	Yes	Yes	Yes
Simtools xla	No	Excel	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Simulación 5.0	Yes	Excel	Yes	Yes	Yes	Yes	No	No	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Simular	No	Excel	N/A	N/A	Yes	Yes	N/A	Yes	Yes	N/A	N/A	N/A	Yes	Yes	N/A
Simulation Master Premium	Yes	Excel	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	No	No	Yes	Yes	No
Simulation Master Standard	Yes	Excel	Yes	Yes	Yes	Yes	No	Yes	Yes	Yes	No	No	Yes	Yes	No
YASAI and YASAIw	No	Excel	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	Yes	N/A

Help file, support and training

Name	UDFs linked to help file^[43]	Interfaces linked to help file^[44]	Help file in PDF	Help file online	Technical support available	Language versions^[45]	Online videos	Online training	Onsite training
@RISK Industrial	Yes	Yes	Yes	Yes	Yes	ZH, EN, FR, DE, JA, PT, ES	Yes	Yes	Yes
@RISK Professional	Yes	Yes	Yes	Yes	Yes	ZH, EN, FR, DE, JA, PT, ES	Yes	Yes	Yes
Argo	No	No	Yes	Yes	Yes	EN	No	No	Yes
Crystal Ball	No	Yes	Yes	Yes	Yes	EN, JA, ES, DE, FR, PT	Yes	Yes	Via Partners
Crystal Ball + Decision Optimizer	No	Yes	Yes	Yes	Yes	EN, JA, ES, DE, FR, PT	Yes	Yes	Via Partners
DiscoverSim + SigmaXL	N/A	Yes	Yes	Yes	Yes	EN	Yes	No	Yes
MC FLO	Yes	Yes	Yes	Yes	Yes	DE, EN, ES	Yes	No	No
ModelRisk	Yes	Yes	Yes	Yes	Yes	EN, FR, RU, PT	Yes	Yes	Yes
Monte Carnival	Yes	Yes	Yes	Yes	Yes	EN	Yes	No	No
Quantum XL	N/A	Yes	No	No	Yes	EN	No	No	Yes
Risk Analyzer	N/A	N/A	No	No	Yes	EN	No	?	?
Risk Kit Suite	Yes	Yes	No	No	Yes	EN, FR, DE	Yes	No	Yes
Risk Solver Pro	Yes	Yes	Yes	Yes	Yes	EN	Yes	Yes	Yes
Risk Solver Pro + Premium Solver Pro	Yes	Yes	Yes	Yes	Yes	EN	Yes	Yes	Yes
RiskAmp Personal	No	No	Yes	Yes	Yes	EN	No	No	No
RiskAmp Professional	No	No	Yes	Yes	Yes	EN	No	No	No
SAFE TOOLBOXES	No	No	No	Yes	Yes	EN	Yes	No	No
Simtools xla	No	No	No	No	No	EN	No	No	No
Simulación 5.0	Yes	Yes	Yes	Yes	Yes	style="background:#FFC7C7;vertical-align:middle;text-align:center;" class="table-no"\|No	No	No
Simular	No	No	Yes	No	Yes	EN, ES	No	No	No
Simulation Master Premium	No	Yes	Yes	Yes	Yes	EN	Yes	No	No
Simulation Master Standard	No	Yes	Yes	Yes	Yes	EN	Yes	No	No
YASAI and YASAIw	No	No	No	No	No	EN	No	No	No

Footnotes and references

1 2 @RISK manual version 7.0, Palisade Corporation http://www.palisade.com
↑ Booz Allen Hamilton, Argo https://boozallen.github.io/argo/
1 2 Crystal Ball manual: Oracle® Crystal Ball http://www.oracle.com/us/products/applications/crystalball/index.html, Fusion addition Release 11.1.1.3 Statistical Guide
↑ DiscoverSim Workbook: SigmaXL® DiscoverSim http://www.sigmaxl.com/DiscoverSim_Features.shtml
↑ MC FLO online resources: https://www.mcflosim.ch/en/
↑ ModelRisk online help file: http://www.vosesoftware.com/vosesoftware/ModelRiskHelp/
↑ "Monte Carlo Simulation Add-In for Microsoft Excel - Monte Carnival". montecarnival.com. Retrieved 2018-01-16.
↑ Help file downloadable with software at http://www.sigmazone.com/
↑ The Risk Kit Suite is available as portable (no admin-rights required) or installer version. It consists of Risk Kit for Monte-Carlo simulations, Risk Kit R for advanced statistical analyses, and Risk Kit Data for an online data feed of financial data and social statistics from the European Central Bank ECB, the World Bank, the Federal Reserve Economic Data FRED, Eurostat and Yahoo!Finance. Risk Kit Suite on corporate website: https://www.wehrspohn.info/en/products/risk-kit-suite.html
1 2 Risk Solver online user guide: http://www.solver.com/suppxlsguide.htm
1 2 RiskAmp online user guide: http://www.riskamp.com/library/howto.php
↑ SAFE TOOLBOXES website: http://www.safetoolboxes.com
↑ "Roger Myerson | Simtools.xlam add-in for Excel".
↑ "Simulación 5.0". sites.google.com. Retrieved 2021-06-28.
↑ Help file downloadable with software at http://www.simularsoft.com.ar/
1 2 "Simulation Master - Monte Carlo Simulation Add-In for Excel". Vortarus Technologies LLC. Retrieved 2018-01-28.
↑ "Home". xllmonte.com.
↑ "Home". yasai.rutgers.edu.
↑ "Environmental Assessment Program - Models for TMDLS". Archived from the original on 2007-05-25. Retrieved 2014-02-06.
↑ Excel has tools for calculating correlation statistics for a data set. This refers to the software's ability to fit correlation structures to a data set and, where more than one correlation structure is available, to compare the levels of fit.
↑ Some add-ins provide VBA versions of their UDFs, which allow the user to build their own stochastic UDFs in VBA. Some add-ins also provide VBA functions that control a simulation. This allows the user to create VBA macros that will automatically run simulations and generate results.
↑ Some add-ins allow calls to C++ routines. These allow the user to create a stand-alone DLL that represents a part of the model which needs to be as fast as possible by making use of the faster performance of the original code (usually C++)
↑ Integrable as .NET-assembly
↑ Provides the facility to calculate probability mass (or density), cumulative probability, moments, etc. of a distribution directly in the spreadsheet.
↑ Standard error messages like #VALUE! when an input parameter is invalid is replaced by a message describing the reason of the error.
↑ Tools to evaluate the distribution of the minimum or maximum sample from a set of IIDs
↑ Graphical interfaces to facilitate determining distribution of uncertainty of some model parameter based on expert opinion.
↑ Some add-ins do not have a custom results viewer and export the data directly into the spreadsheet for analysis using the spreadsheet's native charting and statistical tools. The number of draws is then restricted by the ability of the spreadsheet to handle the size of the generated data.
↑ The ability to replace a random variable with a fixed value.
↑ Some add-ins allow the user to automatically run a model multiple times replacing decision variables with different values for each simulation run
↑ Some add-ins allow the user to run a VBA macro before a simulation (e.g. to import data from an external source), after a simulation (e.g. to export the results to a database) or before or after a random draw of the model (e.g. to perform an optimization).
↑ Stopping a simulation run when an output variable generates an error is a useful feature for debugging a model
↑ After a simulation run the user is able to insert a specific generated result back into the spreadsheet. This is useful, for example, if one wants to investigate the generated scenario that created the greatest profit or loss.
↑ The ability to specify a required level of precision for output results, usually the accuracy with which the mean or a percentile of the output has been determined. Precision control will stop a simulation run when the required accuracy is achieved
↑ Some add-ins will create a compiled version of the spreadsheet model before simulation. This has the benefit of a far faster simulation speed, but will not work with many types of models e.g. models that include VBA calls or functions like OFFSET and VLOOKUP.
↑ Only Monte Carlo sampling is compatible with copula correlation structures. Using Latin Hypercube or Sobol sampling removes the possibility of using other correlation structures like Archimedean copulas.
1 2 3 4 Multiplicative Congruential Generator
↑ L'Ecuyer et al. 2002. An object-oriented random-number package with many long streams and substreams. Operations Research 50(6)1073-1075. http://www.iro.umontreal.ca/~lecuyer/myftp/papers/streams00.pdf
↑ Exporting file formats to share graphical and statistical results.
↑ Ability to change colour schemes, fonts, add markers and legends, etc.
↑ See, for example: https://www.google.ca/search?q=spider+sensitivity+analysis&tbm=isch&tbo=u&source=univ&sa=X&ved=0ahUKEwjazfDmvOvJAhVJmR4KHTYJBO4QsAQIIA&biw=1920&bih=906
↑ The ability to select a subset of the simulation results (e.g. scenarios that result in a loss) thereby allowing the user to investigate scenarios of greatest interest.
↑ In Excel the Insert Function dialog box includes a 'Help on this function'-hyperlink. Some add-ins use this feature to provide a direct link to the applicable help file topic.
↑ Some add-ins with visual interfaces and dialog boxes include a help icon that directly links to the applicable help file topic for that interface
↑ ZH = Chinese, EN = English, FR = French, DE = German, JA = Japanese, PT = Portuguese, ES= Spanish

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The Public Sector Credit Framework is an open source tool for estimating the default risk of and assigning ratings to government debt. The PSCF installation package was released on May 2, 2012. At the same time, source code was published on GitHub. The publishers, PF2 Securities Evaluations and Public Sector Credit Solutions, said that they released the software in response to the need for "transparent, objective and up-to-date government credit ratings." The project has similar goals to an earlier mass collaboration bond rating effort, Wikirating.

Sparx Systems Enterprise Architect is a visual modeling and design tool based on the OMG UML. The platform supports: the design and construction of software systems; modeling business processes; and modeling industry based domains. It is used by businesses and organizations to not only model the architecture of their systems, but to process the implementation of these models across the full application development life-cycle.

The stochastic empirical loading and dilution model (SELDM) is a stormwater quality model. SELDM is designed to transform complex scientific data into meaningful information about the risk of adverse effects of runoff on receiving waters, the potential need for mitigation measures, and the potential effectiveness of such management measures for reducing these risks. The U.S. Geological Survey developed SELDM in cooperation with the Federal Highway Administration to help develop planning-level estimates of event mean concentrations, flows, and loads in stormwater from a site of interest and from an upstream basin. SELDM uses information about a highway site, the associated receiving-water basin, precipitation events, stormflow, water quality, and the performance of mitigation measures to produce a stochastic population of runoff-quality variables. Although SELDM is, nominally, a highway runoff model is can be used to estimate flows concentrations and loads of runoff-quality constituents from other land use areas as well. SELDM was developed by the U.S. Geological Survey so the model, source code, and all related documentation are provided free of any copyright restrictions according to U.S. copyright laws and the USGS Software User Rights Notice. SELDM is widely used to assess the potential effect of runoff from highways, bridges, and developed areas on receiving-water quality with and without the use of mitigation measures. Stormwater practitioners evaluating highway runoff commonly use data from the Highway Runoff Database (HRDB) with SELDM to assess the risks for adverse effects of runoff on receiving waters.

SolverStudio is a free Excel plug-in developed at the University of Auckland that supports optimization and simulation modelling in a spreadsheet using an algebraic modeling language. It is popular in education, the public sector and industry for optimization users because it uses industry-standard modelling languages and is faster than traditional Excel optimisation approaches.

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[@riskmanual-1] 1 2 @RISK manual version 7.0, Palisade Corporation http://www.palisade.com

[argo-2] Booz Allen Hamilton, Argo https://boozallen.github.io/argo/

[crystal-3] 1 2 Crystal Ball manual: Oracle® Crystal Ball http://www.oracle.com/us/products/applications/crystalball/index.html, Fusion addition Release 11.1.1.3 Statistical Guide

[DSim-4] DiscoverSim Workbook: SigmaXL® DiscoverSim http://www.sigmaxl.com/DiscoverSim_Features.shtml

[MC_FLO-5] MC FLO online resources: https://www.mcflosim.ch/en/

[modelrisk-6] ModelRisk online help file: http://www.vosesoftware.com/vosesoftware/ModelRiskHelp/

[7] "Monte Carlo Simulation Add-In for Microsoft Excel - Monte Carnival". montecarnival.com. Retrieved 2018-01-16.

[quantum-8] Help file downloadable with software at http://www.sigmazone.com/

[riskkit-9] The Risk Kit Suite is available as portable (no admin-rights required) or installer version. It consists of Risk Kit for Monte-Carlo simulations, Risk Kit R for advanced statistical analyses, and Risk Kit Data for an online data feed of financial data and social statistics from the European Central Bank ECB, the World Bank, the Federal Reserve Economic Data FRED, Eurostat and Yahoo!Finance. Risk Kit Suite on corporate website: https://www.wehrspohn.info/en/products/risk-kit-suite.html

[solver-10] 1 2 Risk Solver online user guide: http://www.solver.com/suppxlsguide.htm

[riskamp-11] 1 2 RiskAmp online user guide: http://www.riskamp.com/library/howto.php

[safetoolboxes-12] SAFE TOOLBOXES website: http://www.safetoolboxes.com

[simtools-13] "Roger Myerson | Simtools.xlam add-in for Excel".

[14] "Simulación 5.0". sites.google.com. Retrieved 2021-06-28.

[15] Help file downloadable with software at http://www.simularsoft.com.ar/

[:0-16] 1 2 "Simulation Master - Monte Carlo Simulation Add-In for Excel". Vortarus Technologies LLC. Retrieved 2018-01-28.

[xllmonte-17] "Home". xllmonte.com.

[YASAI-18] "Home". yasai.rutgers.edu.

[YASAIw-19] "Environmental Assessment Program - Models for TMDLS". Archived from the original on 2007-05-25. Retrieved 2014-02-06.

[Correlation_fitting-20] Excel has tools for calculating correlation statistics for a data set. This refers to the software's ability to fit correlation structures to a data set and, where more than one correlation structure is available, to compare the levels of fit.

[vba-21] Some add-ins provide VBA versions of their UDFs, which allow the user to build their own stochastic UDFs in VBA. Some add-ins also provide VBA functions that control a simulation. This allows the user to create VBA macros that will automatically run simulations and generate results.

[cplus-22] Some add-ins allow calls to C++ routines. These allow the user to create a stand-alone DLL that represents a part of the model which needs to be as fast as possible by making use of the faster performance of the original code (usually C++)

[risk_kit_cpp-23] Integrable as .NET-assembly

[probcalc-24] Provides the facility to calculate probability mass (or density), cumulative probability, moments, etc. of a distribution directly in the spreadsheet.

[error-25] Standard error messages like #VALUE! when an input parameter is invalid is replaced by a message describing the reason of the error.

[extreme-26] Tools to evaluate the distribution of the minimum or maximum sample from a set of IIDs

[expert-27] Graphical interfaces to facilitate determining distribution of uncertainty of some model parameter based on expert opinion.

[draws-28] Some add-ins do not have a custom results viewer and export the data directly into the spreadsheet for analysis using the spreadsheet's native charting and statistical tools. The number of draws is then restricted by the ability of the spreadsheet to handle the size of the generated data.

[lock-29] The ability to replace a random variable with a fixed value.

[multiple-30] Some add-ins allow the user to automatically run a model multiple times replacing decision variables with different values for each simulation run

[runmacro-31] Some add-ins allow the user to run a VBA macro before a simulation (e.g. to import data from an external source), after a simulation (e.g. to export the results to a database) or before or after a random draw of the model (e.g. to perform an optimization).

[stoprun-32] Stopping a simulation run when an output variable generates an error is a useful feature for debugging a model

[specsamp-33] After a simulation run the user is able to insert a specific generated result back into the spreadsheet. This is useful, for example, if one wants to investigate the generated scenario that created the greatest profit or loss.

[preccon-34] The ability to specify a required level of precision for output results, usually the accuracy with which the mean or a percentile of the output has been determined. Precision control will stop a simulation run when the required accuracy is achieved

[interpreter-35] Some add-ins will create a compiled version of the spreadsheet model before simulation. This has the benefit of a far faster simulation speed, but will not work with many types of models e.g. models that include VBA calls or functions like OFFSET and VLOOKUP.

[sampling-36] Only Monte Carlo sampling is compatible with copula correlation structures. Using Latin Hypercube or Sobol sampling removes the possibility of using other correlation structures like Archimedean copulas.

[MCG-37] 1 2 3 4 Multiplicative Congruential Generator

[MRG32k3a-38] L'Ecuyer et al. 2002. An object-oriented random-number package with many long streams and substreams. Operations Research 50(6)1073-1075. http://www.iro.umontreal.ca/~lecuyer/myftp/papers/streams00.pdf

[viewer-39] Exporting file formats to share graphical and statistical results.

[edit-40] Ability to change colour schemes, fonts, add markers and legends, etc.

[spider-41] See, for example: https://www.google.ca/search?q=spider+sensitivity+analysis&tbm=isch&tbo=u&source=univ&sa=X&ved=0ahUKEwjazfDmvOvJAhVJmR4KHTYJBO4QsAQIIA&biw=1920&bih=906

[filter-42] The ability to select a subset of the simulation results (e.g. scenarios that result in a loss) thereby allowing the user to investigate scenarios of greatest interest.

[linkedudf-43] In Excel the Insert Function dialog box includes a 'Help on this function'-hyperlink. Some add-ins use this feature to provide a direct link to the applicable help file topic.

[linkedinterface-44] Some add-ins with visual interfaces and dialog boxes include a help icon that directly links to the applicable help file topic for that interface

[language-45] ZH = Chinese, EN = English, FR = French, DE = German, JA = Japanese, PT = Portuguese, ES= Spanish

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