@RISK for Six Sigma
@RISK comes with Six Sigma statistics, functions, and reports. It is used to identify, measure, and root out the causes of variability in your production and service processes and designs.
Model, Simulate, Understand
Running an analysis with @RISK involves three simple steps:
1. Set Up Your Model. Start by replacing uncertain values in your spreadsheet with @RISK probability distribution functions, like Normal, Uniform, or over 35 others. These @RISK functions simply represent a range of different possible values that a cell could take instead of limiting it to just one case. Choose your distribution from a graphical gallery, or define distributions using historical data for a given input. Even combine distributions with @RISK’s Compound function. Share specific distribution functions with others using the @RISK Library, or swap out @RISK functions for colleagues who don’t have @RISK.
Next, select your outputs—the "bottom line" cells whose values interest you. This could be potential profits, ROI, insurance claims payout, disease recovery rate, or anything at all.
2. Run the Simulation. Click the Simulate button and watch. @RISK recalculates your spreadsheet model thousands of times. Each time, @RISK samples random values from the @RISK functions you entered, places them in your model, and records the resulting outcome. Explain the process to others by running your simulation in Demo Mode, with graphs and reports updating live as the simulation runs.
3. Understand Your Risks. The result of a simulation is a look at a whole range of possible outcomes, including the probabilities they will occur. Graph your results with histograms, Scatter Plots, cumulative curves, Box Plots, and more. Identify critical factors with Tornado charts and sensitivity analysis. Paste results into Excel, Word, or PowerPoint, or place them in the @RISK Library for other @RISK users. You can even save results and charts right inside your Excel workbook.
@RISK Industries & Applications
@RISK is used to analyze risk and uncertainty in a wide variety of industries. From the financial to the scientific, anyone who faces uncertainty in their quantitative analyses can benefit from @RISK.
| Industry Applications |
| Aerospace |
Manufacturing |
| Defense |
Medical |
| Environment |
Oil/Gas/Energy |
| Finance |
Pharmaceuticals |
| Government |
Securities |
| Insurance/Reinsurance |
Transportation |
NOTE: For more information about @RISK for Excel, please take a look to the PDF of @RISK Brochure and the detailed @RISK Fact Sheet. Click here to view the @RISK tutorial. |