Monte Carlo Simulation as a Force for Good

CEO Message by Randy Heffernan Many who have been exposed to Monte Carlo simulation learned about it in the context of financial modeling such as asset management, cash flow analysis, or actuarial study.  And that’s with good reason: The applications of Monte Carlo simulation for giving valuable insights into areas of financial uncertainty are limitless.  …

Improving Legal Case Outcomes with @RISK and PrecisionTree, Part IV

Forecasting Damages Using Monte Carlo Simulation In our last post, we discussed using @RISK software to navigate decision analysis challenges and determine fair market value of intellectual property. This final post will continue exploring ways to enhance your litigation strategy by using @RISK to forecast damages. A common first step in litigation strategy is to …

Improving Legal Case Outcomes with @RISK and PrecisionTree, Part III

Calculating Unassailable Fair Market Value of Intellectual Property using Monte Carlo Simulation Previously we discussed the importance of crafting decision trees in litigation strategy and why patent litigation is an expensive, time-consuming process. In part three, we will be focusing on how to leverage Palisade’s @RISK software to overcome decision analysis challenges and calculate probabilities …

Improving Legal Case Outcomes with @RISK and PrecisionTree, Part ll

Decision Trees Explained In our first post, we discussed how presenting objective, realistic models that show all possible scenarios helps manage expectations early in the litigation process, setting the stage for productive settlement discussions. In this post, we will be delving into why patent litigation is a particularly expensive process and walk through an example …

Improving Legal Case Outcomes with @RISK and PrecisionTree, Part I

Quantitatively Optimize Your Negotiation Strategy with Decision Trees In litigation, you often get stuck in inefficient negotiations. Between 95-97% of patent lawsuits settle before trial, but not before amassing an average of more than $2 million in expenses, according James C. Yoon, partner at Wilson Sonsini Goodrich & Rosati. If a long negotiation is disadvantageous …

New Dairy Research Facility incorporates the work of expert @RISK user Dr. Jeffrey Bewley

The Kentucky Farm Bureau blog featured the work of expert @RISK user Dr. Jeffrey Bewley, who is a University of Kentucky dairy specialist and associate extension professor. The story describes the new University of Kentucky dairy research facility that was built with cow comfort in mind, while being familiar enough to dairy producers so that …

Deloitte AIS Helps Client Avoid Overfunded Position of Several Billion Rands, using @RISK

Deloitte Actuarial and Insurance Solutions (AIS) is a specialist insurance and actuarial consulting team, based in South Africa, which operates in more than 40 countries worldwide. Their remit is to provide advanced analytical solutions that enable the financial well-being and solvency of their clients, who include many life and short-term insurers across the African continent, …

University of Pretoria Creates an @RISK Model for Stopping the Spread of Avian Flu

The avian influenza virus – or avian flu – is a fast-spreading infection that affects poultry and potentially people worldwide. While the risk to humans is not completely understood, stopping human exposure to the virus is critical. According to Dr. Folorunso Oludayo Fasina, a senior lecturer at the University of Pretoria’s Department of Production Animal …

PragmaRisk uses the DecisionTools Suite for Contingency Funds for Construction Projects

Determining and monitoring the contingency funds required for any construction project is a process that must account for many uncertainties. French risk management consultancy PragmaRisk turned to Palisade’s DecisionTools Suite to help it tackle this issue and ensure that it makes realistic recommendations to its clients. Using @RISK (part of the DecisionTools Suite), PragmaRisk performs …

Mining Students at U of Witwatersrand Get Practical Financial Analysis Experience with @RISK

The University of Witwatersrand in South Africa is offering its mining engineering students some valuable practical guidance and financial analysis experience, to equip them with proficiencies and knowledge that will be required in their professional lives. Using Palisade’s risk analysis tool @RISK, the school is giving students training in and knowledge of Monte Carlo Simulation. Professor …