Complete List of New Features in @RISK 5.0

General

• The separate Model and Results Summary Windows of @RISK 4.0 and 4.5 are now integrated into the Excel window.
• New @RISK Settings toolbar in Excel provides quick access to simulation settings.
• Graphs of simulation results and inputs can link directly to the cells they reference in Excel with “callout” windows.
• Nearly all modeling operations can be performed via drag and drop or simple clicks on the toolbar.
• Navigate through Results in Excel with <Tab> Key to move through @RISK inputs and outputs in open workbooks, with graphs pointing at the cell where the input or output is located.
• Support for versions of Microsoft Excel through Excel 2007, including the larger worksheet size of Excel 2007.
• All graphs and reports update live as a simulation runs
• Window selector allows tiling, minimizing, closing, activating etc. of all open @RISK windows

Model Window

• Distribution functions can be edited directly in the Model window
• Graph thumbnails in list graphically display input distributions
• Drag thumbnail graph off Model window to expand to full-size graph
• Statistics shown in table can be customized
• Report of Model Definition in Excel includes graph thumbnails
• Inputs are organized by categories, with default categories made based on row or column names in workbook
• Clicking or tabbing on an input in the table moves to relevant cell in Excel and displays graph

Adding Outputs

• Existing outputs and output ranges may be edited or deleted directly over Excel
• Properties dialog can be used to enter property functions

Correlations

• Correlations between distributions are quickly defined in matrices that pop-up over Excel
• Dynamic scatter plots of correlated inputs graphically display correlated samples between two inputs
• Correlation coefficients in matrix can be adjusted using slider
• Correlation Matrices defined in the @RISK interface can be located anywhere in Excel, not just on the @RISK Correlations sheet
• Correlated Time Series with Instances can be quickly set up to correlate sets of similar distributions which each use the same matrix
• Scatter plot matrix shows correlations generated between inputs in a matrix after a run

Distribution Fitting

• Data sets for fitting now reside in Excel
• Up to 10 overlays of different fitted distribution in a single graph
• Fit Manager tracks multiple fitted data sets in a model

Define Distributions

• Window stays up as you move to different cells to define or edit @RISK distribution functions
• <Tab> Key moves through cells in open workbooks and worksheets with distribution functions
• Edit functions directly in formula or in argument panel
• Up to 10 overlays of different distribution functions
• Graph settings and overlays maintained when returning to define distribution for a cell
• Separate argument panels for graph and overlays.
• Context sensitive (F1) help for each distribution function type.
• Properties dialog can be used to enter property functions

Simulation and Sampling

• Demo mode updates Excel, graphs and reports every iteration
• Eight random number generators available
• Auto-stop maximum iterations now 50,000
• New progress window reports additional run statistics and allows changing settings during run
• New Performance Monitor for @RISK Accelerator multi-CPU support
• Excel normal recalculation mode (standard or monte carlo) can be selected from the toolbar
• RiskStatic property function can store value to be returned from a distribution in a normal Excel recalculation
• Alternatively mean, mode, median or a percentile can be returned from a distribution in a normal Excel recalculation

Convergence Monitoring

• New algorithm based on user-defined tolerance and confidence interval settings, or on mean, Std. deviation, or percentile.
• User selectable statistics to test during monitoring
• Can be applied globally for all outputs or individually by output using the RiskConvergence property function

Results Window

• Graph thumbnails in list graphically display simulated distributions
• Drag thumbnail graph off Results window to expand to full-size graph
• Statistics shown in table can be customized
• Report of Results Window in Excel includes graph thumbnails
• Results window and thumbnail graphs update live as a simulation runs to show a “dashboard” of simulation results
• Clicking or tabbing on a result in the table moves to relevant cell in Excel and displays graph

Graphics - General

• New graphics engine, designed for processing simulation data, provides faster graphing and real-time animation of simulation results.
• Type Lower, Middle Range and Upper Delimiter Values directly on Graph
• Edit Titles directly on Graph
• User controllable number of delimiter bars for overlays
• Predefined and custom markers on graphs
• Extensive graph color and shading options
• Controllable number formatting on graphs
• Customizable statistics displayed in legend of graph
• Improved graphing of discrete distributions and data sets, including new RiskIsDiscrete property function
• Select overlays by clicking on cells to overlay in Excel
• Up to 10 overlays on a single graph
• Remove overlays by clicking on the entry in the legend

Scatter Plots

• Any pair of output results and/or sampled inputs can be placed in a scatter plot
• Overlay up to 10 scatter plots in a single chart
• X and Y values can be standardized
• User controllable Confidence Ellipse can be added
• Scatter plots can be generated in Excel as native Excel charts

Summary Graphs and Box Plots

• Any inputs or outputs (not just those in an output range) can be placed in a summary graph or box plot
• Box plot has user definable box and whisker settings

Sensitivity Analysis

• Pivoted Detailed Statistics report allows listings of larger numbers of inputs and outputs
• Regression – Mapped Values analysis type displays values, as opposed to coefficients, on bars
• Drag a bar from a Tornado Chart to show a scatter graph of values for a key input vs output
• Pre-screening inputs based on their precedence in formulas to outputs in your model helps keeps erroneous inputs from appearing in results.
• Sensitivity Scatter Plot Matrix can be displayed, showing a matrix of scatter plots ranked by most important inputs
• RiskMakeInput function allows sensitivity impacts of multiple inputs to be captured in a single bar in a tornado chart

Filtering

• Filtering can be specified using percentiles as well as actual values
• Filtering available directly from a graph window
• Percentile filters update real time as data changes during a simulation

@RISK Library

• The @RISK Library provides a repository for sharing @RISK inputs and simulation results.
• Distributions to be shared can be entered directly in the Library or added from an @RISK model in Excel
• Revision history is provided for library distributions
• Results for different simulations stored in the library can be graphically compared
• Archived simulations, including workbooks simulated, can be reloaded into Excel

Function Swap

• Function Swap allows @RISK functions to be removed and restored from workbooks; easing the sharing of workbooks with non-@RISK users.
• Value used to replace a swapped out distribution can be a user selected statistic from the distribution
• Model changes made when functions are swapped out are captured in the RiskStatic function
• Distributions swapped back in are placed in correct location in changed workbook
• Report on changes made to a swapped out model available

Data Reports

• Data from a simulation may be sorted to show key values you are interested in, including Error values
• Iterations from a previously run simulation may be stepped through, updating Excel with values sampled and results calculated.

Save Simulations

• Simulation Data and Graphs can be stored in the simulated workbook
• Simulation Data and Graphs, along with the simulated workbook, can be stored in the @RISK Library

Six Sigma Support

• 19 new statistics functions provide six sigma statistics in models
• LSL, USL and Target values set using new RiskSixSigma property function
• Results summary window displays six sigma statistics
• LSL, USL and Target values displayed with markers on graphs
• Six Sigma guide and help details how to develop six sigma models using @RISK

Clear Data

• Simulation results, settings, and/or all @RISK functions and information can be permanently removed from an Excel workbook

Application Settings

• Default settings for graphs, simulations, function swap, reporting and others are specified in a single location
• Standard settings can be shared between users with a custom configuration file
• Custom formatting of @RISK input and output cells, including color, font and borders

Excel Reports

• New standard headers and formatting
• Reports include graphics where applicable
• Ability to have more than one template sheet report.

Help and Tutorials

• Technical information on distribution functions integrated into help system
• On-line tutorials and movies illustrate key concepts

Installation, Licensing and Updates

• New installer and licensing system
• Licenses may be moved to a new computer via the internet
• Automatic updating of installations with new releases and patches

Programmability and Macros

• New object-oriented API has hundreds of properties and methods for setting up and running simulations and generating results from VBA
• Intellisense pops up available arguments and constants when wrting programs that control @RISK

New and Enhanced @RISK Functions in Excel

• RiskCompound, used for “frequency / severity” modeling, takes two distributions to form a new input distribution.  RiskCompound requires two arguments, one for frequency and one for severity, and each an @RISK distribution function or a reference to a formula in Excel that generates the frequency or severity value. It also has two optional argument for insurance modeling – deductible and limit. Deductible, if entered, is subtracted from severity, and if deductible exceeds limit, severity is set to equal limit.
• RiskTheo functions such as RiskTheoMean or RiskTheoPtoX return a desired statistic on an input probability distribution.
• @RISK statistics functions for simulation results (such as RiskMean) and RiskTheo functions can take an optional RiskTruncate function to specify a percentile or actual range over which statistics should be calculated.
• RiskSensitivity function returns sensitivity analysis results directly to your spreadsheet.
• A new set of 19 @RISK statistics functions (such as RiskCPK) return a desired Six Sigma statistic on a simulation output. 
• RiskConvergenceLevel returns the convergence level of a simulation output
• RiskStopRun stops a simulation when an Excel formula returns TRUE
• RiskMakeInput specifies that the calculated value for a formula will be treated as a simulation input, in the same manner as a distribution function.  This function allows the results of Excel calculations (or a combination of distribution functions) to be treated as a single “input” in a sensitivity analysis.
• RiskResultsGraph supports overlays and graphs of input probability distributions
• RiskSimTable allows simulations to be named, and provide new icon in results viewing for managing output data.

New Property Functions for @RISK
Outputs and Distribution Functions

• RiskUnits specifies units to use to label an input or output in graphs and reports
• RiskSeed specifies the seed and random number generator to use for an individual distribution function
• RiskConvergence specifies specific convergence monitoring settings for an output
• RiskSixSigma specifies LSL,USL and Target values for an output
• RiskIsDiscrete specifies that the data set to be generated for an output should be treated as a discrete distribution when graphing and calculating statistics
• RiskStatic specifies the value to be returned by a distribution function in a normal Excel recalculation and optionally will automatically store the value in a formula that was replaced by a distribution function
• RiskTruncateP specifies truncation limits for a distribution function using percentile values
• RiskCategory property function to help organize inputs into functional groups.
• RiskLibrary is used to attach an input in the model to a probability distribution in the @RISK Library.