The DecisionTools Suite is an integrated set of programs for risk analysis and decision making under uncertainty that runs in Microsoft Excel. The DecisionTools Suite includes @RISK, which adds risk analysis to Excel using Monte Carlo simulation, PrecisonTree for visual decision tree analysis, TopRank for what-if analysis, NeuralTools. Palisade @Risk v7.6.1 build 18 Industrial Edition. November 9, 2019. From the financial to the scientific, anyone who faces uncertainty in their quantitative analyses can benefit from @RISK. @RISK helps both Fortune 100 companies and private consultancies paint a realistic picture of possible scenarios.
New DecisionTools Suite 7.5 offers a range of improvements throughout the eight programs of the Suite. Below is a quick roundup of the new features.
» Features released previously in 7.0
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What's New in
@RISK 7.5
New and Improved Tornado Graphs
Input Shading
Tornado Overlays
Contribution to Variance
New and Improved Tornado Graphs.
Input Shading
We've added a shading option to our Change in Output Mean Tornado graphs to have the ability to quickly see whether the input associated with each bar is high or low when the output statistic increases or decreases. In the example below you can see that when inputs such as Product Lifetime and Initial Unit Price are high, there is a positive impact on the net present value (NPV) of the project; when an input such as Initial Cost is high it will have a negative impact on the NPV.
A Tornado Graph with Input Shading.
Tornado Overlays
Do you have situations where you want to compare pre-mitigation vs post-mitigation on the same model? Or maybe you would simply like to compare the results of multiple simulations to analyze other strategies? You can now overlay multiple tornado graphs to make such comparisons easy to understand and communicate to others.
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A tornado overlay graph showing the results of four @RISK simulations.
Contribution to Variance
@RISK's new Contribution to Variance tornado graphs will help you understand how much of the variance in the output variable is attributable to each individual input. There are options for displaying both the magnitude and direction of the bars, or just the magnitude. The former displays bars to the left and right of the centerline, depending on the correlation between the input and the output, while the latter displays all input bars to the right, so the contribution to variance can be more easily compared.
Contribution to Variance tornado graphs showing magnitude and direction (left) and just magnitude (right).
RISKOptimizer is 4x Faster!
RISKOptimizer now utilizes multiple CPUs (or cores) to dramatically speed up optimizations. Speed tests show optimizations run four times faster than before – or more – saving you tremendous time.
22 New Functions - 16 Distribution Functions and 6 Statistical Functions
Functions are at the heart of risk analysis involving Monte Carlo simulation. In version 7.5 we have added a total of 22 new functions – 16 distribution functions and 6 new statistical functions. The new distribution functions will appeal to a variety of industries and applications, ranging from insurance risk to reliability engineering to modeling of household income. These new functions are important for accurate, insightful estimation of uncertainty. The new statistics functions provide useful statistics on simulation results data.
Run Goal Seek, Evolver or Solver During Each Iteration without VBA Coding
Have you ever been interested in running Goal Seek, Evolver or Solver for each iteration in your simulation but faced the hurdle of writing a VBA macro to do so? Now you can simply set this up using a dialog and @RISK does the rest for you - saving you an incredible amount of time and hassle!
Use Simulation Settings dialog to run Goal Seek, Evolver or Solver without writing a macro.
Graphing and Reporting Improvements, Support for Excel Themes
All @RISK graphs and reports now feature a more streamlined interface, to accomplish more in fewer clicks. In addition, graphs and reports support Excel’s built-in themes and colors. Now you can apply your company’s standard Excel themes to your @RISK reports, improving communication consistency and efficiency.
The same report with stylistic changes that happen with the click of the mouse.
New Statistics Functions Tab
Saving you even more time, @RISK has added a new tab to your Model window and your Summary Results window. This new tab lists all of your @RISK statistics functions all in one spot - giving you the ability to navigate more easily through your model, make changes to functions on the fly and search for specific functions.
The new Statistics Functions tab in @RISK windows now lets you see all functions at a glance.
Easier Access to Default Graphs
Toggle between your default probability, cumulative and tornado graphs without having to select them from their respective drop-down menus. Yet, another change to help save time!
The new style of these easy access buttons will allow you to more easily toggle between your favorite graphs.
Greater Control over CPU Usage
Are you someone that takes advantage of the fact that @RISK can utilize multiple CPUs? You can now control exactly how many CPUs @RISK uses to run simulations.
Enable Multiple CPU Support and enter the number of CPUs you would like to use.
What’s New in the entire
DecisionTools Suite 7.5
Optimized for Windows 10 and Excel 2016
Interface Improvements
Enhanced Support for Ultra HD Displays
All DecisionTools Suite products have been retooled for optimal performance and presentation in the latest Windows 10 and Office 2016 environments. We’ve also leveraged the power of ultra high definition displays to ensure that all DecisionTools graphs and reports look better than ever. In addition, the user interface has been updated to make common tasks easier to perform, saving time and clicks.
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DecisionTools Suite products are optimized to run seamlessly in Windows 10 and Excel 2016.
What's New in
StatTools
Improved Box-Whisker Plot Analysis
Select between vertical or horizontal Box-Whisker plots or opt to see your outliers identified in a separate column in your data set.
New Analysis: Chi-Square Goodness-of-Fit Test
The Chi-square Goodness-of-Fit Test checks if the frequency distribution of a categorical variable of your sample fits a specified pattern and is consistent with a hypothesized distribution.
Improved Regression Analysis with Outliers
Outliers can wreak havoc on your outcomes. It is important to be able to identify how many outliers are playing a role in your results, as well as where they lie in your graphs. The StatTools summary table lets you know how many outliers there are and allows you to choose to identify those outliers in your data and in your graphs. By having outliers identified in the data itself, you have the opportunity to see if each outlier is a true outlier or just a data entry error.
Upgraded Confidence Intervals and Hypothesis Tests
Confidence intervals and hypothesis tests for mean and standard deviation can be implemented using a known population standard deviation or summary statistics as the input.
What's New in
Evolver
Improved Status Bar Accessibility
When running an optimization you can now view the status bar via any tab in the Watcher. This also holds true in RISKOptimizer.
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