A free Excel add-in for performing Monte Carlo simulations, allowing users to define uncertain variables with various distributions and run simulations to analyze outcomes.
MonteCarlito
- Excel
- Data Analytics, Mathematics, Quality, Simulation, Statistics
- Design for Six Sigma (DfSS), Project Management, Quality Control, Quality Management, Risk Analysis, Simulation, Statistical Analysis, Statistical Process Control (SPC)
Features:
- Monte Carlo simulation, definition of random variables (various distributions like Normal, Uniform, Triangular, Lognormal), correlation between variables, calculation of result statistics (mean, std dev, percentiles), histogram and chart generation
Pricing:
- Free
- Free and open-source, provides basic Monte Carlo simulation capabilities directly in Excel, easy to use for simple risk analysis and uncertainty modeling, good for educational purposes.
- Limited features compared to commercial risk analysis add-ins (e.g., @RISK, ModelRisk), fewer built-in distributions, less sophisticated correlation modeling, may be slower for very large simulations.
Best for:
- Students, educators, and professionals needing a free and simple tool to perform basic Monte Carlo simulations and risk analysis within Microsoft Excel.