ModelRisk
ModelRisk is a Monte Carlo simulation add-in for Microsoft Excel that models uncertainty in spreadsheet inputs and generates scenarios.
What ModelRisk is
ModelRisk is a Monte Carlo simulation add-in for Microsoft Excel that models uncertainty in spreadsheet inputs and generates scenarios. It includes 136 probability distributions, 34 time series models, and 14 copulas for linking uncertain inputs. Users can fit distributions, time series, and copulas to spreadsheet data with maximum likelihood estimation, then rank candidates using SIC, HQIC, and AIC. The Results Viewer offers nine chart types, statistics tables, side-by-side run comparisons, and exports to Excel, Word, PowerPoint, or PDF. Other listed features include converters for @RISK and Crystal Ball models, a Pelican integration, and compatibility with Excel auditing tools, Excel Tables, and Power Query. A SWAP tool converts its functions into fixed, annotated values for plain Excel, and a free viewer opens .vmrs results files. ModelRisk requires Windows 10 or 11 and specified Microsoft Excel versions. The listed Desktop plan costs €1,550 a year; the Network plan costs €4,750 a year. A free 15-day trial is also offered. The maker reports a roughly 200× median simulation-phase speed-up for Turbo across 89 internal test models versus its classic engine.
Good
- Includes 136 probability distributions.
- Results Viewer compares runs and exports reports.
- Free 15-day trial is available.
- Desktop plan supports a single Windows computer.
Watch out
- Does not run on Mac OS without Boot Camp.
- Requires Windows and specified Excel versions.
- Desktop plan costs €1,550 a year.
- Network plan costs €4,750 a year.
Who it suits
ModelRisk suits Windows users who work with uncertainty, scenarios, and risk analysis in Excel. The listed use cases span business, science, engineering, and government.
Verdict
ModelRisk provides simulation and analysis tools within Excel, with several ways to review and share results. Check the Windows and Excel requirements and plan terms before choosing a license.
Plans and prices
From ModelRisk's own pricing page, checked 7 Oct 2001.
| Plan | Price | What it gives you |
|---|---|---|
| ModelRisk Desktop | €1,550 a year | One computer · Windows PC · € 1550 base annual fee per single-computer license; volume discounts apply |
| ModelRisk Network | €4,750 a year | Concurrent seats · classic network or cloud-based network license · € 4750 base annual fee per concurrent seat; volume discounts apply |
The facts
Each one read from ModelRisk's own pages, with the date it was checked.
What it does
- Data fitting
- ModelRisk fits distributions, time series, and copulas to spreadsheet data using maximum likelihood estimation and ranks candidates with SIC, HQIC, and AIC.checked 7 Oct 2001
- Distributions
- The features page says ModelRisk includes 136 probability distributions, including expert-estimate tools and a tool for drawing custom distributions.checked 7 Oct 2001
- Integrations
- The product page lists converters for @RISK and Crystal Ball models, a Pelican integration, and compatibility with Excel auditing tools, Excel Tables, and Power Query.checked 7 Oct 2001
- Network licensing
- Network licenses can use a classic shared network folder without internet access or a cloud-based license endpoint that requires internet access.checked 7 Oct 2001
- Operating requirements
- The maker lists Windows 10 or Windows 11 and Microsoft Excel 2013, 2016, 2019, or Office 365 in 32-bit or 64-bit as ModelRisk requirements.checked 7 Oct 2001
- Purpose
- ModelRisk is a Monte Carlo simulation add-in for Microsoft Excel that models uncertainty in spreadsheet inputs and generates scenarios.checked 7 Oct 2001
- Results
- The Results Viewer provides nine chart types and statistics tables, supports side-by-side run comparisons, and exports to Excel, Word, PowerPoint, or PDF.checked 7 Oct 2001
- Security
- Vose Software states that it achieved SOC 2 Type I, SOC 2 Type II, and ISO/IEC 27001:2022 compliance, and says reports are available upon request under NDA.checked 7 Oct 2001
- Sharing
- ModelRisk includes a SWAP tool that turns its functions into fixed, annotated values for use in plain Excel, and a free viewer for .vmrs results files.checked 7 Oct 2001
- Simulation
- The maker reports a median simulation-phase speed-up of roughly 200× across 89 internal test models for its Turbo engine compared with its classic engine.checked 7 Oct 2001
- Support and guidance
- The maker lists an integrated help file with more than 1,000 topics, tutorials, example models, and technical support.checked 7 Oct 2001
- Time series and correlation
- The features page lists 34 time series models and 14 copulas for linking uncertain inputs.checked 7 Oct 2001
- Use cases
- The maker describes use in business, science, engineering, and government, with examples including cost estimation, epidemiology, portfolio risk, capital investment, and insurance modelling.checked 7 Oct 2001
The company
- Founded
- 2008checked 28 Sep 2001
- Headquarters
- Ghent, Belgiumchecked 28 Sep 2001
Where it runs
- Mac limit
- The pricing page says ModelRisk does not run on Mac OS but can be run on a Mac using Boot Camp.checked 7 Oct 2001
Money
- Trial
- Vose Software offers a free 15-day trial, and the trial registration page says submitted data is never shared with a third party.checked 7 Oct 2001
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