VOSE Software provides a software tool called ‘ModelRisk 4’ which allows analysts to run Monte Carlo simulations within Microsoft Excel. The software is able to display the results in graphics format. The ‘Standard’ version of the product is free and is not time-limited. You can download it and use it for as long as you like. If you need more powerful features, the company sells the ‘Professional’, and ‘Industrial’ version of the products.
The software is supported by a very comprehensive help file which goes beyond merely explaining how to use the software, but also gives a brief explanation of the various data analysis functions and their purpose. But for more in-depth analysis, you can turn to David Vose’s book ‘Risk Analysis: A Quantitative Guide’. David runs VOSE Software out of Belgium. VOSE Software also provides risk consulting services.
