Risk Solver™, a tool for risk analysis of business models using high-speed, fully interactive Monte Carlo simulation, was released recently by Frontline Systems. Prospective users can download a free trial version at www.solver.com. The company is a developer of the Excel Solver and leading-edge optimization software.

    A big difference from older simulation solutions for Excel, Risk Solver’s interactive simulation uses Frontline’s PSI Technology™ to run simulations at lightning speed - making fully interactive simulation practical. Each time a user modifies a number on the spreadsheet, a simulation with thousands of trials is performed – often in no more time than a single spreadsheet recalculation – and the full range of simulation results and statistics may be displayed. Risk Solver uses Frontline’s PSI Technology™ to create simulations at lightning speed – making fully interactive simulation practical.

    The program also departs from older products in combining simulation and optimization, to best allocate resources in the presence of uncertainty. It functions closely with Frontline’s market-leading Premium Solver Platform, and offers user the ability to access to twelve of the world’s best optimizers for every class of issue, and solving simulation optimization problems hundreds of times faster.

    A Ribbon with dropdown galleries makes its full range of functions easily discoverable. Risk Solver shines in Excel 2007, but it also works well in Excel 2003, Excel XP or Excel 2000. Users can easily hover the mouse over an uncertain cell to display a pop-up chart of simulation results, or double-click a cell to show dialogs for seting probability distributions, defining and customizing charts and graphs, and geting statistical results.

    This is the first application to support the emerging discipline of Probability Management, with built-in facilities for creating and using Stochastic Libraries and Certified Distributions. Large organizations can utilise it to meaningfully compare and even "roll up" results of simulation models created by different business groups – which has been difficult to do in the past. It includes a 'runtime package' – another departure from older simulation packages for Excel. Risk Solver Engine offers over 80 Excel functions and a complete VBA object type and application programming interface that makes it easy to create custom risk analysis applications. Low-cost licenses and easy packaging make it ideal for deployment to end users.

    The program is priced at $995 for a single user license in the U.S., plus required first-year annual support. A special package of Risk Solver V7.0 and Premium Solver V7.0 costs just $1,550 plus support. Special academic prices are available for research and teaching. A fully functional, free trial version can be downloaded at Frontline’s Website www.solver.com.