Vose Software

ModelRisk


4.5 / 5
4 reviews


Average Ratings

4 Reviews

  • 4.5 / 5
    Overall

  • 5 / 5
    Ease of Use

  • 4.5 / 5
    Customer Service

Product Details

  • Starting Price
    Not provided by vendor
  • Pricing Details
    from 249EUR per seat
  • Free Trial
    Yes
  • Deployment
    Installed - Windows
  • Training
    Documentation
    Webinars
    Live Online
    In Person
  • Support
    Online
    Business Hours

Vendor Details

  • Vose Software
  • www.vosesoftware.com/
  • Belgium

About ModelRisk

ModelRisk is an Excel add-in that allows the user to include uncertainty in their spreadsheet models. ModelRisk has been the innovation leader in the marketplace since 2009, being the first to introduce many technical features that make risk models easier to build, easier to audit and test, and more precisely match the problems you face.


ModelRisk Features

  • Alerts/Notifications
  • Auditing
  • Business Process Control
  • Compliance Management
  • Corrective Actions (CAPA)
  • Exceptions Management
  • Internal Controls Management
  • IT Risk Management
  • Legal Risk Management
  • Mobile Access
  • Operational Risk Management
  • Predictive Analytics
  • Reputational Risk Management
  • Response Management
  • Risk Assessment

ModelRisk Reviews Recently Reviewed!


Modelrisk Review

Jan 23, 2019
4/5
Overall

5 / 5
Ease of Use

5 / 5
Features & Functionality

3 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 9.0/10 Not
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Extremely
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Pros: Excel plugin. Integrates well with Excel. The GUI is excellent. Most of the functions are very intuitive. The automated distribution fitting is very useful. Employs copula correlations which are more advanced than correlation matrices. Employs nice reporting functions which can display both input and output data and graphics as well as input/output tornado, scatter and spider plots. Has good built in report export.

Cons: Support is technically good, but support response is spotty. Modelrisk locks up occasionally, but that could be my configuration, i.e. I have a lot of other plugins as well as other things running in the background.

Overall: Modelrisk provides a good framework for performing complex simulations without requiring manual coding. I use it primarily for modeling weather derivatives and am satisfied with capabilities.

One of the most powerful and flexible tools of this kind available, with well-considered feature set

Sep 20, 2017
5/5
Overall

4 / 5
Ease of Use

5 / 5
Features & Functionality

5 / 5
Customer Support

4 / 5
Value for Money
Likelihood to Recommend: 9.0/10 Not
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Extremely
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Pros: Wide range of pdfs available, integration and aggregation functions are very useful for insurers. Good graphics, and interoperability especially ability to import data and export results.

Cons: Can be tricky to use, and a lot of prior knowledge is assumed regarding topics such as "objects" and "functions" - should be friendlier for users who do not have a background in software development. It would be good to see some additional functions; numerical differentiation, better interpolation utilities, and the ability to "fit" PERT and ModPERT distributions which would be useful for actuaries even if mathematically unusual. There are bugs in the Copula reporting utilities.

Overall: Statistical analysis and excellent support for developing models for analysing uncertainty; actuarial experience analysis, project decision analysis, capital management, valuation and risk pricing for ourselves and for clients.

I switched from @Risk to ModelRisk within a few days of testing

Sep 19, 2017
5/5
Overall

5 / 5
Ease of Use

5 / 5
Features & Functionality

5 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 9.0/10 Not
Likely
Extremely
Likely

Pros: Great overviews of input and output pdfs and sensitivity analyses ( spider plot). Some product and other complex functions explained well and easy to use.

Cons: You have to type Vose everytime you want to use a function. Customer service is great and a genius as well as a good teacher. But I don't want to think of him all the time :-)

Overall: Better models that are easy to desing

Business Analytics Grad Student

Sep 25, 2017
4/5
Overall

5 / 5
Ease of Use

5 / 5
Features & Functionality

5 / 5
Customer Support

5 / 5
Value for Money

Pros: The software is very helpful and easy to use for a variety of models. I used it for DCF risk valuation.

Cons: My only dissatisfaction is the lack of Mac OS compatibility, so I had to run a VM for Win which is sub-optimal.