Software Announcements

The latest news about @RISK and The DecisionTools Suite for risk and decision analysis.

New Functions in @RISK 7.5!

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Functions are at the heart of risk analysis involving Monte Carlo simulation. In version 7.5 we have added a total of 22 new functions – 16 distribution functions and 6 new statistical functions. @RISK’s new distribution functions will appeal to a variety of industries and applications:

  • RiskDagum – This distribution is mostly associated with modeling income distribution and is useful in many actuarial statistics.
  • RiskFréchet – Used to quantify extreme events, Fréchet distributions is helpful in modeling rare, unexpected events such as radioactive emissions, seismic analysis, and peak single-day rainfall and flooding.
  • RiskCauchy – This distribution is useful in scientific and engineering applications to model resonance behavior, measurement repeatability and light dispersion.
  • RiskBurr12 – Burr distributions are used to model household income, insurance risk and reliability data.
  • RiskFatigueLife – If you are looking to model material reliability, FatigueLife distribitions are effective in modeling reliability and are used to estimate failure of materials over time.

These new functions are important for accurate, insightful estimation of uncertainty and provide useful statistics on simulation results data.  Ranging from insurance risk to reliability engineering to modeling of household income, @RISK 7.5 has your risk analysis needs covered!

»Learn about all the new functions in @RISK 7.5

»Learn more about @RISK

New and Improved Tornado Graphs in @RISK 7.5

It’s often difficult to determine which factors require the most attention in business decisions which can lead to focusing on the wrong things while ignoring what’s most important.  Tornado graphs are an effective way to determine which aspects have the most impact on a business decision, so you can focus on what matters rather than negligible factors.  Palisade’s @RISK, which has been used for years by many companies who utilize tornado graphs for sensitivity analyses, was just given multiple improvements to its tornado graph functions that offer new analytical features and simpler use to increase the ease of understanding and communicating your results.

One of the new features of @RISK 7.5 is the ability to overlay multiple tornado graphs into one visual.  Creating a separate chart for each simulation and then comparing the results can be both difficult to compare and time-consuming.  With @RISK 7.5 you can simply overlay all of the simulations making comparison easier to see and communicate to others.  Rather than focusing on communicating the comparison, you can jump right to making more informed decisions!

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Another new exciting feature in @RISK 7.5 is the Contribution to Variance tornado graph function.  This feature determines the amount of output variance is attributed to each factor so you can see which inputs are creating the most impact on the output.  You can choose whether you want to see the magnitude and direction of the variance or just the magnitude to more easily compare the contribution variance.

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Finally, we have added a shading option to the Change in Output Mean tornado graphs to quickly see whether the input associated with each bar is high or low when the output statistic increases or decreases.  In the example below you can see that when inputs such as Product Lifetime and Initial Unit Price are high, there is a positive impact on the net present value (NPV) of the project; when an input such as Initial Cost is high it will have a negative impact on the NPV.

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Free Webinars: What’s New @RISK and DecisionTools Suite 7.5

New @RISK 7.5 and DecisionTools Suite 7.5 offer a range of improvements for any decision maker, from general use enhancements to new, specialized analytical features. New and enhanced graphing options, faster performance, and sophisticated analytics make DecisionTools Suite 7.5 the only decision analysis toolset you’ll ever need!  Sign up for one of our free webinars and learn about our new features!

In each webinar, we’ll cover key features that are new in 7.5:

  • New and Improved Tornado Graphs in @RISK
  • Faster Optimization with RISKOptimizer
  • Over 20 New @RISK Functions
  • Graphing and Reporting Improvements in @RISK
  • And more!

Join us for a free webinar to learn about more new features in @RISK 7.5 and DecisionTools Suite 7.5!

» Wednesday, July 20th, 1pm EDT (NYC) | 10am PDT (Los Angeles) | 6pm BST (London) – Register
» Thursday, July 21st, 10am EDT (NYC) | 3pm BST (London) | 7:30pm IST (Delhi) – Register
» Wednesday, July 27th, 10am AEST (Sydney) – Register

@RISK and DecisionTools Suite 7.5 Now Available

The latest version of our popular risk analysis tools, @RISK 7.5 and DecisionTools Suite 7.5 are now available!  Version 7.5 offers a range of improvements for any decision maker, from general use enhancements to new, specialized analytical features.  New and enhanced graphing options, faster performance, and sophisticated analytics make DecisionTools Suite 7.5 the only decision analysis toolset you’ll ever need.

Read What’s New

Register for a free webinar on What’s New in @RISK 7.5

Key Features Include:

  • New and Improved Tornado Graphs In @RISK
  • Faster Optimization with RISKOptimizer
  • Over 20 New @RISK Functions
  • Graphing and Reporting Improvements in @RISK
  • Optimized for Windows 10 and Excel 2016

Other Important Features:

  • Run Optimizations During Simulation Without Coding
  • New StatTools Analyses

Join Us for a Free to Learn More About What’s New In @RISK 7.5 and DecisionTools Suite 7.5!

» Wednesday, July 20th, 1pm EDT (NYC) | 10am PDT (Los Angeles) – Register

» Thursday, July 21st, 10am EDT (NYC) | 3pm BST (London) | 7:30pm IST (Delhi) – Register

» Wednesday, July 27th, 10am AEST (Sydney) – Register

Palisade Unveils BigPicture, Brand-New Software Product

BigPicture - Mind Mapping and Data Exploration for Excel
Mind mapping, diagramming, data maps, and org charts – right in Excel

FOLLOW BIGPICTURE:
BigPicture BlogBigPicture on TwitterBigPicture on FacebookBigPicture on LinkedIn

Palisade is pleased to introduce BigPicture, the diagramming and data mapping software add-in for Microsoft Excel. With BigPicture, you can create mind maps to organize thoughts and ideas, or create dynamic data maps from any type of spreadsheet data. You can even create automatic organizational charts from your personnel data. BigPicture is now available for download in beta!

For 30 years, Palisade software tools have been helping decision-makers gain powerful insights in their spreadsheets; now, BigPicture adds a new, visual diagramming platform to your decision-making toolbox.

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BigPicture  lets you:

  • Brainstorm complex problems using mind mapping techniques
  • Present and explore data sets with eye-catching topical maps
  • Work in Excel and easily share maps with others
  • Clarify decision processes
  • Automatically generate organizational charts from source personnel data
  • Link any map to underlying data sets for live updating

While the applications are limitless, BigPicture will be particularly useful for tasks such as strategic planning, org chart creation, and data mapping, giving professionals an easy-to-use tool to better plan out decisions and display dense data with the click of a button.

BigPicture Data Map

A data map built with BigPicture, illustrating the connections between complex data points with clear, detailed visuals.

BigPicture Strategic Planning

A BigPicture strategic map, with nodes expanded to show the different factors and possibilities of certain choices.

BigPicture Org Chart

A BigPicture flexible org chart, illustrating the structure of the organization along with detailed info on all the employees.

Download the BigPicture Beta Now!

The BigPicture Beta is available now for download, free of charge. Download it today, and begin exloring.

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@RISK and DecisionTools Suite 6.3 Now Available

No charge for current maintenance holders

Palisade is pleased to announce the release of @RISK 6.3 and DecisionTools Suite 6.3, available now for immediate download. The DecisionTools Suite is the world’s only integrated set of risk and decision analysis programs, and 6.3 is an important maintenance release that provides valuable improvements and fixes. At Palisade, we strive to continually improve the tools you rely on for optimal decision-making, so be sure to keep your software current.

This update is available at no charge for customers with current maintenance plans.

Update Now

Other languages

@RISK and DecisionTools Suite 6.3 software and updates are available in multiple languages: SpanishPortuguese, FrenchGerman, JapaneseChinese, and Russian.

@RISK and DecisionTools Suite 6 Now Available in Seven Languages

The current version of @RISK and the DecisionTools Suite, version 6.1, has now been fully translated into Spanish, Portuguese, French, German, Japanese, and Chinese. The user interface, example models, video tutorials, and complete help files and user manuals have all been carefully translated. Users can specify the language at install, and even change languages later — all from the same installer. This is a major benefit to multinational companies seeking to roll out a single risk analysis standard around the world.

@RISK and DecisionTools Suite Maintenance Update

In addition to the language translations, a maintenance update to @RISK and DecisionTools Suite software has been released, version 6.1.2.

New DecisionTools Suite 6.1 and @RISK 6.1: Compatible with Office 2013

New Version 6.1 - Now Compatible with Office 2013; works with 32- and 64-bit Excel, Project, and Windows 8

New DecisionTools Suite and @RISK v6.1:
Excel 2013 and Windows 8 Compatibility

Palisade is pleased to announce the release of new @RISK and DecisionTools Suite 6.1, offering support for Excel 2013, Project 2013, and Windows 8, including 32-bit and 64-bit versions. This new release is also compatible with previous versions of Excel, Project, and Windows, providing maximum flexibility regardless of your platform.

Faster Project Simulations and More

In addition, @RISK 6.1 offers a new calculation engine for Microsoft Project schedules that simulates many times faster than before. DecisionTools Suite 6.1 also gives you the ability to change the language of your user interface, all from a single installer – perfect for global companies.

Upgrade Today

» More about the DecisionTools Suite
» What's New in the DecisionTools Suite 6.1
» Upgrade now from an earlier version

 

@RISK and DecisionTools Suite 6.1 Release Preview Now Available

Palisade is pleased to announce that version 6.1 of @RISK and the DecisionTools Suite is coming soon. This new version will feature an enhanced, faster engine for the simulation of Project schedules, as well as compatibility with Excel 2013, Windows 8, and 64-bit versions of Microsoft Project. It has also been translated into Spanish, Portuguese, German, French, Japanese, and Chinese.

We encourage you to try a special Release Preview of version 6.1 available now, in all seven languages.

» Download the 6.1 Release Preview

Your feedback will help Palisade to improve the final product.

New in DecisionTools Suite 6: New Examples and Tutorials

All DecisionTools Suite products now include revised and updated example files, as well as all-new examples in a range of industries.  All examples are clearly organized and easy to navigate. These examples have been designed and written by leading MBA professor and author Dr. Chris Albright of Indiana University. They provide step-by-step guidance on setting up and running models to address a wide range of industry applications. In addition, many examples offer short, built-in videos that walk you through the model.

Furthermore, new video tutorials have been developed by Dr. Albright to help new users get started quickly, and to help experienced users get more out of the software.

Quick Start models files and videos
These short, interactive tutorials are designed to teach you how to use DecisionTools software by walking you through an actual model – all under 30 minutes! Build a model step by step, following the simple video instructions provided.

Guided Tour Videos
Guided Tours explain the functionality of each part of the software ribbon in detail. Learn how the features work, improve your efficiency, and avoid errors in your models.

Example Videos
Follow along as experts demonstrate the powerful analytical features of the DecisionTools Suite, and then open the actual risk and decision analysis models. Models are available here, and linked directly from your software.

» Palisade Videos