"Vector Economics has developed unprecedented technology for aggregating risk and uncertainty. We learned things from it that we didn't even know that we didn't know."
Vector Economics has enabled us to incorporate uncertainty around both external events and internal performance, with an ease that we didn’t realize was possible; dramatically improving understanding and decision making.
"I think your product is amazing..." - Ahh shucks. We love recieving emails like these.
“The DIST is a significant advance in the representation of probability distributions. At Morningstar and Ibbotson, we have already begun to explore using it to enhance our capabilities in Monte Carlo simulation and portfolio optimization when return distributions are highly non-normal.”
Sam Savage's Distribution Strings represent a major breakthrough in the communication of risk and uncertainty. It significantly widens the practical applicability of sound theory in these fields.
"In my job as a transformation analyst with Oregon’s Department of Administrative Services, I’ve developed a protocol for using XLSim as part of our Lean Six Sigma process improvement work with business units throughout state government. For example, I just finished a project with our Risk Group (our state self-insurance company) and was able to show them how to reduce the median time it takes to process a claim by 30%. On a previous project, we used XLSim to help our Department of Fish & Wildlife decrease the time it takes to get permission to hire from 11 days to just 1! The critical role that XLSim plays is that it allows the process improvement team to play “what-if” in order to discover the highest leverage solutions to their problems without having to resort to the costly real life trial and error. Using XLSim enables process improvement teams to see the likely results of their countermeasures using their own data; it instills confidence that their ideas will actually work; and facilitates implementation and follow up monitoring and control."
Copyright Vector Economics, Inc. 2012. Founded on the principles of probability management as put forth in the book "The Flaw of Averages".
