Thursday, 4 July 2013

Risk Analysis Software

Did you know, what are the critical factors in your Business that are affecting risk?

Are your still following the intuitive business decision making to drive your business and expecting it to lead the business landscape which is getting competitive like never before. 21st Century is an era of Information Age, where everything is dependent on Business related information you posses. Beyond that, the real success depends on capability to analyze the Data and Information related to Business.

Often as a business enterprise, you are dealt with various risk analysis and risk management tasks. What are all those critical factors that affect risk and subsequently your business decision, it is very important to get clear picture about the same? With ever increasing Data and Business Information, you can no more depend and take decision on your Institutions. Definitely, Risk Analysis and Business Analytics are the solution for such challenges in Business decision making.

How Risk Analysis Software – Oracle Crystal Ball can be helpful?

Before discussion benefits of Risk Analysis Software, I want to write down few things which financial analysts, consultants, business managers, business analysts and business analyst are dealt with on day to day basis:-

a. “WHAT IF” Risk Analysis: On daily bases, it’s the responsibility of analysts to find out critical factors that can affect risk. What is we opt in Project A instead of Project B? What if I create Warehouse at Location A instead of Location B? These are important questing to be answered to decide.

b. Forecasting: It is a very broad term, it could be related to project planning, material requirement, business sales performance, manufacturing, budgeting etc. It is very critical to forecast precisely, the future requirements and scenario, in order to plan well in advance and minimize the risk associated with uncertainties.

c. Correlated Assumption: We have to find out extent of dependencies on various factors and how much it can affect our performance.

d. Constraint Based Performance: We have to identify and measure the affect on performance under set of defined constraints.

It takes lot of time if we start manually calculating by applying all the mathematical and statistical analysis techniques, rather there is maximum possibility that we shy away investing time in calculations and get strayed away by intuitive and behavioral decision making which in comparison to analytics, is less precise and less certain.

Benefits of Oracle Crystal Ball Risk Analysis Software:-

Forecasting with Crystal Ball makes your decision 95% certain using following techniques:-

• Advanced mathematical functions e.g. forecasts, budgets, project plans, order quantities etc.

• Constraint based decision optimizer

• Simulation using real historical data

• Identify Risk & business drivers

Insight of Oracle Crystal Ball – Risk Analysis Software:-

Monte Carlo Simulation
Does: Calculates multiple scenarios of a spreadsheet model automatically
Benefits: Frees users from the constraints of estimates and best-guess values
Distribution Gallery
Does: Provides an intuitive interface for selecting model input variables; includes 16 discrete and continuous distributions plus custom distribution
Benefits: Simplifies the quantifying of risk, means you don't have to enter the distribution formula into Excel
Categories of Distributions

Does: Create predefined distributions, modify your existing distributions and organize them using custom categories
Benefits: Create your own library of distributions, organized in categories. Re-use distributions from one project to the next
Publish and Subscribe Feature for Categories
Does: Publish categories and share with many users
Benefits: Work as a team sharing models and data to get your work done faster
Process Capability Features 
Does: Define spec limits (LSL, USL and Target) in your forecasts; calculate capability metrics and view simulation results and metrics together in one split-view chart.
Benefits: With capability metrics in Crystal Ball you simplify your workflow and better integrate simulation into your Six Sigma and Quality methodology
Forecast Charts

Does: Graphically display simulation results and statistics
Benefits: Allows users to track and analyze thousands of possible outcomes; charts are interactive
Split-View charts

Does: View forecast charts, descriptive statistics and capability metrics side-by-side on the same chart. Enable up to 6 charts and tables in one view
Benefits: One chart tells the whole story
Sensitivity and Tornado Analyses

Does: Two separate methods for identifying the most critical model input variables
Benefits: Enable users to focus on high-risk model input variables
Distribution Fitting

Does: Uses historical data for defining assumptions
Benefits: Allows users to customize model input variables based on real-world results

Does: Models dependencies between uncertain input variables
Benefits: Provides more accurate modeling and forecasting
Charting and Reporting

Does: Automates report generation, includes the ability to overlay forecasts and to project trends through time
Benefits: Creates clear analysis and presentation of all forecasts, improves communication with colleagues, management, and clients
Precision Control

Does: Provides advanced simulation capabilities
Benefits: Increases simulation accuracy and flexibility; saves time
Latin Hypercube Sampling

Benefits: Samples regularly across distribution, excellent for simulations with restriction on number of trials
Data extraction

Does: Exports data from Crystal Ball memory
Benefits: Allows users to examine individual simulation results and transfer results to other software programs
CB Tools

Does: Macro-driven tools that use Crystal Ball; Includes scenario analysis, decision table, tornado chart, correlation matrices, 2D-simulation, batch fit, and boot strap
Benefits: Automates modeling processes with effortless and powerful tools
Microsoft Certification
Does: Certified Excel macro provider
Benefits: Eliminates security concerns

Binary Semantics is pioneer in India for DATA ANALYSIS Products, Solutions and Consulting across industries and applications. We represent some of the largest software providers in the world for Statistical Analysis & Data MiningBusiness Intelligence, Six Sigma Data Analysis, Risk Analysis and Simulation, Optimization Solutions, and Econometrics.

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