Online distribution generator is now available. Use Monte-Carlo trials or calibrated expert inputs

An exciting new online application to generate ChanceCalc-compatible SIPmath 3.0 JSON libraries. Ok, in simple English this means, generating distributions that can be used in any business plan, budget or model to simulate uncertainty. 

You can now replace single point estimates with distributions in seconds and the excuses that you don’t have enough data don’t work. 

As input, it can take either a CSV file of Monte Carlo trials, or a list of Quantile value estimates of an expert.

This app will be made available to attendees of my “Welcome to the Chance Age” webinars, where I will explain its use.

5% discount for RISK-ACADEMY readers: https://www.probabilitymanagement.org/chancification-webinars and use code 5RISK

CSV Mode

In this mode, the app takes in CSV files generated from any Monte Carlo package such as @RISK or Crystal Ball. The user has the option to have the app calculate correlation coefficients between variables, or model them as independent.

Quantile Mode

This mode is perfect for capturing expert opinion. In this mode, if correlation is desired, the user must enter the coefficients.

5% discount for RISK-ACADEMY readers: https://www.probabilitymanagement.org/chancification-webinars and use code 5RISK

Welcome to the Chance Age!

RISK-ACADEMY offers online courses

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Управление рисками

В этом коротком и очень увлекательном курсе, Алексей Сидоренко расскажет о причинах внедрения риск менеджмента, об особенностях принятия управленческих решений в ситуации неопределенности и изменениях в новом стандарте ИСО 31000:2018.

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