April 1997 € Volume 24 € Number 2
April 1997 € Volume 24 € Number 2
Palisade Corporation's DecisionTools -- @RISK, BestFit and RISKview -- offer the user a powerful set of software whose primary purpose is to develop risk assessment models using a spreadsheet. The mechanism is simulation, accomplished via recalculating the spreadsheet many times, each time drawing randomly from selected probability distributions. The results are saved and allow the user to access a variety of data/reports/charts in order to evaluate the risks in the analysis.
Each tool offers a user-friendly icon-oriented interface. Toolbars for each tool make access to their capability very easy. To use the tools correctly, however, requires the user to be a competent risk analyst.
@RISK has been in existence since 1987, BestFit since 1993 and
RISKview since 1994. @RISK is the main risk assessment tool. It is an
add-in to either Microsoft Excel or Lotus 1-2-3. @RISK allows you to
add uncertainty to your spreadsheet model via @RISK functions. It
comes in four versions: (1) for Lotus 1-2-3 for Windows, version 4 or
later; (2) for Microsoft Excel 4.0 or 5.0 for Windows (works in
Windows 95 and Windows NT); (3) for Microsoft Excel for Windows
95/Windows NT; and (4) for Lotus 1-2-3 for DOS. This review will
focus on the Windows 95/Windows NT version, which has the latest
features. The other Windows versions have most of these features. We
will note the exceptions where applicable.
Product Information@RISK, RISKview and BestFit are distributed by Palisade Corporation, 31 Decker Road Newfield, NY 14867. Phone: 1-800-432-7475 or (607) 277-8000; 277-8001; E-mail: [email protected] |