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Article: Rolling the dice. (Sweeping Financial Planning Software).(Monte Carlo simulation)
- Article from:
- Accounting Technology
- Article date:
- October 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Two years ago, there was still some resistance to the use of Monte Carlo simulation in financial planning packages. In fact, at that time, a vice president of Financial Profiles, which markets the Profiles+ line of software, said that Monte Carlo was overkill for the average user.
But this year, Profiles+ implemented Monte Carlo. in its line, and even as other companies expressed some reservations about use of the technique, most major players are onboard the Monte Carlo bandwagon. Indeed, some companies are adding the technique to their packages without a great deal of enthusiasm.
Big Demand
"The market is crying for it," says David Stitt, ...