Risk & uncertainty
From its inception, Analytica was designed to analyze risk and uncertainty — unlike spreadsheet applications which require special add-ins. Analytica’s fully integrated features for sensitivity analysis, scenario analysis and Monte Carlo simulation make it remarkably simple to treat risk and uncertainty in your models. Here are some examples of how organizations are using these methods.
Kite energy analysis, planning & location
Let’s go fly a kite- not just for fun but to power the world! However bold and ambitious, this is the subject of a 2009 article published in the Energies section of mdpi.com...
Uncertainty analysis: are you sure about what you’re not sure about?
Tracking uncertainty in the input data in a model and showing how different degrees of such uncertainty affect the final result are strengths of Analytica. However, uncertainty ...
Monte Carlo analysis for schedules: more than just a mouse click
Project managers using Analytica to model schedules benefit from the built-in Monte Carlo engine. That makes the simulation runs for a given model effortless from the ...
Is risk assessment risky business?
As if risks in general weren’t enough, the question is now about the quality of the risk assessment itself. Even more daunting, lists of ‘mistakes in risk assessment’ have been ...
Operational risk (OR) scenario analysis: if modeling processes & systems are difficult, try people
Operational risk scenario analysis may sound like a mouthful, but here’s what it’s all about. Firstly, operational risk is the risk to a business of loss from processes, systems ...
How Monte Carlo simulation fights the curse of dimensionality
The Curse of the Mummy? Already tackled with Lon Chaney in 1944. The Curse of Monkey Island? Thousands of PC gamers have beaten you to it. The Curse of Fatal Death?
Healthcare decision tree & sensitivity analysis
Learn how decision trees improve healthcare decision-making, boost patient outcomes, and streamline processes with real-world applications and benefits.
Expert elicitation & probability assessment through treatment of Uncertainty
Wherein lies the uncertainty with experts – in the situation that is being assessed or in the assessment itself? Expert elicitation and probability assessment can be a useful ...
Some Analytica customers
