# RESEARCH ARTICLES | RISK + CRYSTAL BALL + ANALYTICS

## Bayesian Reasoning using R (Part 2) : Discrete Inference with Sequential Data

### How I Learned to Think of Business as a Scientific Experiment

Imagine playing a game in which someone asks you to infer the number of sides of a polyhedron die based on the face numbers that show up in repeated throws of the die. The only information you are given beforehand is that the actual die will be selected from a set of seven die having these number of faces: (4, 6, 8, 10, 12, 15, 18). Assuming you can trust the person who reports the outcome on each throw, after how many rolls of the die wil you be willing to specify which die was chosen?
• 6 November 2018
• Author: Robert Brown
• Number of views: 8377

## Modeling Time-Series Forecasts with @RISK

Making decisions for the future is becoming harder and harder because of the ever increasing sources and rate of uncertainty that can impact the final outcome of a project or investment. Several tools have proven instrumental in assisting managers and decision makers tackle this: Time Series Forecasting, Judgmental Forecasting and Simulation.

This webinar is going to present these approaches and how they can be combined to improve both tactical and strategic decision making. We will also cover the role of analytics in the organization and how it has evolved over time to give participants strategies to mobilize analytics talent within the firm.

We will discuss these topics as well as present practical models and applications using @RISK.

• 18 October 2011
• Author: Eric Torkia
• Number of views: 4498

## A detailed comparison of the top Monte-Carlo Simulation Tools for Microsoft Excel

There are very few performance comparisons available when considering the acquisition of an Excel-based Monte Carlo solution. It is with this in mind and a bit of intellectual curiosity that we decided to evaluate Oracle Crystal Ball, Palisade @Risk, Vose ModelRisk and Frontline Risk Solver in terms of speed, accuracy and precision. We ran over 20 individual tests and 64 million trials to prepare comprehensive comparison of the top Monte-Carlo Tools.

• 20 September 2011
• Author: Eric Torkia
• Number of views: 4007

## Copulas Vs. Correlation

Copulas and Rank Order Correlation are two ways to model and/or explain the dependence between 2 or more variables. Historically used in biology and epidemiology, copulas have gained acceptance and prominence in the financial services sector.

In this article we are going to untangle what correlation and copulas are and how they relate to each other. In order to prepare a summary overview, I had to read painfully dry material… but the results is a practical guide to understanding copulas and when you should consider them. I lay no claim to being a stats expert or mathematician… just a risk analysis professional. So my approach to this will be pragmatic. Tools used for the article and demo models are Oracle Crystal Ball 11.1.2.1. and ModelRisk Industrial 4.0

• 16 June 2011
• Author: Eric Torkia
• Number of views: 13813