Data Analysis Software Solutions and Risk Assessment Tools:
Statistical analysis refers to a collection of methods used to process large amounts of data and report overall trends. It provides ways to objectively report on how unusual an event is based on historical data.
It is required in Risk analysis, Optimization, Six Sigma, CMMI, Financial analysis, Forecasting and almost everywhere, even in our day to day life. With statistics involved in our analysis we can be sure of our results/reports etc.
If we have small data then we can manually perform statistical tests, simulation, time series forecasting, clustering, data mining, modelling etc.
But this is not always the case. So for getting insight into our data and get the more out of it, which is of importance to us, we use Statistical analysis software.
Below are the software which covers all Basic and Advanced Statistics and help us get the best solution of our problem:-
Risk Analysis & Simulation:-
Oracle Crystal Ball & Decision Optimizer :
It is simplest and most complete tool for Monte-Carlo simulations, time-series forecasting and constraints-based optimization for Microsoft Excel spreadsheets and models.
Crystal Ball automatically calculates thousands of different “what if” cases, saving the inputs and results of each calculation as individual scenarios. Analysis of these scenarios reveals the range of possible outcomes, their probability of occurring, which input has the most effect on your model and where you should focus your efforts.
What’s Best :
What's Best! Is an add-in to Excel that allows you to build large scale optimization models in a free form layout within a spreadsheet? What’s Best! combines the proven power of Linear, Nonlinear (convex and no convex/Global), Quadratic, Quadratic ally Constrained, Second OrderCone, Stochastic, and Integer optimization with Microsoft Excel.
LINGO is a comprehensive tool designed to make building and solving Linear, Nonlinear (convex & nonconvex/Global), Quadratic, Quadratically Constrained, Second Order Cone, Stochastic, and Integer optimization models faster, easier and more efficient. It can connect to any Database.
LINDO API :
With the LINDO API, you can easily create your own optimization applications. It allows you to plug the power of the LINDO solvers right into customized applications and mathematical programs that you have written.
TIBCO Spotfire S+:
With S+, statisticians and statistical programmers can apply, prototype and deploy statistical models and predictive analytics up to five times faster than with competing modelling environments. S+ is the only commercially-supported statistical analysis software that delivers a
cross-platform IDE for the award-winning S programming language, the ability to analyse gigabyte class data sets on the desktop, and a package system for sharing, reuse and deployment of analytics in the enterprise and in validated environments.
IBM SPSS Statistics is an integrated family of products that addresses the entire analytical process, from planning to data collection to analysis, reporting and deployment. With more than a dozen fully integrated modules to choose from, you can find the specialized capabilities you need to increase revenue, outperform competitors, conduct research and make better decisions.
Data Mining & BI :-
SAS is an integrated system of software products which enables programmers to perform:
Retrieval, data management, and data mining,
Report writing and graphics
Business planning, forecasting, and decision support
Operations research and project management
Data warehousing (extract, transform, load)
Platform independent and remote computing
In addition, SAS has many business solutions that enable large-scale software solutions for areas such as IT management, human resource management, financial management, business intelligence, customer relationship management and more.
TIBCO Spotfire :
TIBCO Spotfire Professional makes it easy to build and deploy reusable analytic applications over the web. Or perform pure ad-hoc analytics, driven on-the-fly by your own knowledge, intuition, and desire to answer the next question. Spotfire analytics does all this by letting you interactively query, visualize, aggregate, filter, and drill into datasets of virtually any size. Ultimately you will reach faster insights with Spotfire and bring clarity to business issues or opportunities in a way that gets all the decision makers on the same page quickly.
A combination of power and ease-of-use make EViews the ideal package for anyone working with time series, cross-section, or longitudinal data. With EViews, you can quickly and efficiently manage your data, perform econometric and statistical analysis, generate forecasts or model simulations, and produce high quality graphs and tables for publication or inclusion in other applications.
LIMDEP is an integrated program for estimation and analysis of linear and nonlinear models, with cross section, time series and panel data. LIMDEP has provided many recent innovations including cutting edge techniques in panel data analysis, frontier and efficiency estimation and discrete choice modeling.
NLOGIT is an extension of LIMDEP that provides programs for estimation, model simulation and analysis of multinomial choice data, such as brand choice, transportation mode, and all manner of survey and market data in which consumers choose among a set of competing alternatives. NLOGIT has become the premier package for estimation and simulation of multinomial discrete choice models.
Shazam is easy-to-use, comprehensive programmable software package for econometrics. The primary strength of Shazam lies in the estimation & testing of many types of regression models.
Quality – Six Sigma & CMMI :-
A powerful but easy to use Excel Add-In, that will enable you to Measure, Analyze, Improve, and Control your service, transactional, and manufacturing processes. This is the perfect tool for Six Sigma® Green Belts, Black Belts, Quality and Business Professionals, Engineers, and Managers. SigmaXL is a fraction of the cost of any major statistical product, yet it has all the functionality most professionals need.
Discover Dynamic Data Visualization. Discover Things You Never Expected. Statistical discovery software that’s fast, powerful and totally interactive.
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