From its inception, Analytica was designed to analyze risk and uncertainty — unlike spreadsheet applications which require special add-ins. Analytica’s fully integrated features for Monte Carlo simulation make it remarkably simple to add treatment of uncertainty and twenty times faster to run than standard spreadsheets. Analytica’s influence diagrams let you specify variables as uncertain simply by selecting an oval node to depict a chance variable. You can then select from a wide range of probability distributions, single or multivariate. You can view the results in almost any way you can imagine, density functions, cumulative distributions, probability bands, basic statistics, or even the underlying random sample values (if you really like the nitty gritty).
Risk analysts have been using Analytica for twenty years for a huge variety of areas. See below for a few examples.
Could humans lose control over advanced artificial intelligence?
A group of researchers on AI is using Analytica influence diagrams to map out arguments and scenarios to explore what we could do to avoid these risks.
From Controversy to Consensus: California’s offshore oil…
Offshore oil in California is highly controversial. But, Lumina’s decision model on decommissioning oil platforms led to consensus for “rigs to reefs”.
How much water do we have?
The supply of water has been a community debate. Analytica was used to model water supply and demand, contributing to the St. Helena’s approval of new water usage policies.
Integrated Climate Assessment Model
Possibly the most sophisticated environmental model created with Analytica, the ICAM model has generated a wide range of valuable insights into how to adapt to global climate change.
An integrated assessment of acid rain
How effective was the Clean Air Act at improving air quality and reducing acid rain? The NAPAP developed an integrated environmental assessment model to help answer such questions.
Are farmed salmon safe to eat?
By comparing the risks and health benefits of farmed salmon, Finnish analysts show that eating farmed salmon is much healthier than eating beef and other animal proteins.
Earthquake insurance – Cost-effective modeling
An analysis of earthquake scenarios and insurance rates helped a San Francisco county optimize insurance premiums and move toward a long-term risk management strategy.
Marketing Evolution Leverages Analytica for Decision Analytics
Marketing Evolution is a leading consulting group dedicated to helping marketers maximize ROI for their advertising budgets. Improving yield on marketing budgets is big business.
Reducing flood risk in Ho Chi Minh City
After a devastating flood in Ho Chi Minh City, the World Bank used Analytica to develop a robust strategy to help the city manage and reduce risks of future flooding.