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Perry A. Foote

Software - Crystal Ball

What is Crystal Ball?

Crystal Ball® Standard Edition is an easy-to-use simulation program that helps you analyze the risks and uncertainties associated with your Microsoft® Excel spreadsheet models.

As a fully integrated Excel add-in program with its own toolbar and menus, Crystal Ball picks up where spreadsheets end by letting you perform Monte Carlo analysis (a standard technique for simulating real-world situations involving elements of uncertainty).

What is the likelihood of reaching a particular goal? What are the critical factors affecting risk? The answer to these and other common “what-if” scenarios can be determined by assigning probability to unknown variables. Excel can't handle the complexity of probability analysis, so you need a better tool: Crystal Ball 2000.

Crystal Ball automates the cumbersome "what-if" process using Monte Carlo simulation, by applying a range of values or a probability distribution to each uncertain variable.

The program generates random values from within the defined probability ranges, and then recalculates the model literally hundreds or thousands of times, storing the results of each "what-if" scenario. This timesaving process alleviates having to manually enter different scenarios over and over again.

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