With the Risk Solver Add-on, you can perform risk analysis using Monte Carlo simulation in your Google spreadsheet using a subset of key features from our Risk Solver Pro product for Microsoft Excel. You can create and run simulations on tablets, phones, or anywhere a Web browser can be used.
- Point and click to insert probability distributions into cells representing uncertain inputs in your model, and set their parameters.
- Choose from 30 different continuous distributions, from Beta to Weibull, and 8 discrete distributions, from Bernoulli to Poisson.
- Point and click to mark cells computing results that you want to monitor during the simulation.
Click to run and in a few seconds, you’ll have results from 1,000 Monte Carlo trials, with charts and statistics:
- Frequency, cumulative and reverse cumulative histograms
- Sensitivity (tornado) charts
- Scatter plots
- Summary statistics such as mean and standard deviation
- Percentiles
Copy statistics and percentiles into a worksheet cell range with one click. You can even step through the Monte Carlo trials and see each result calculated on your worksheet.
Risk Solver Add-on helps you go beyond what-if analysis to perform realistic risk analysis. Move from simple average-best-worst case analysis to see the full range of possible outcomes, and quantify your downside risk and upside potential. For applications in pharmaceuticals, oil and gas, finance and insurance, and manufacturing quality control, this type of risk analysis is essential.