Publication number: ELQ-31784-1
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Spyglass RiskSim – Financial & Predictive Risk Modelling Toolkit (Excel + DLL)
Spyglass RiskSim is a professional-grade financial and predictive risk-modelling toolkit for Excel, providing Monte-Carlo simulation, probability distributions,
Further information
To enable transparent Monte-Carlo risk modelling and uncertainty analysis directly within Excel, supporting informed decision-making through probabilistic simulation, scenario analysis, and statistically defensible outcomes.
This best practice applies most effectively under the following conditions:
When key inputs to a model are uncertain, variable, or subject to natural randomness
When decisions rely on forecasts, estimates, or assumptions rather than fixed known values
When risk exposure, downside outcomes, or tail events must be explicitly quantified
When deterministic Excel models need to be enhanced with probabilistic insight
When scenario analysis and sensitivity testing are required to support strategic decisions
When transparency, auditability, and reproducibility of results are critical
When Excel is the primary analytical environment used by the organization
When commercial “black-box” risk software is unavailable, cost-prohibitive, or unsuitable
This best practice may not be ideal under the following conditions:
When all model inputs are fixed, deterministic, and known with high certainty
When a simple point estimate is sufficient and uncertainty does not materially affect decisions
When users require real-time, automated, or streaming data analytics outside Excel
When advanced machine-learning or AI-driven forecasting is the primary requirement
When users lack basic familiarity with Excel or probabilistic concepts
When regulatory frameworks mandate the use of specific certified risk software
When cloud-only or fully web-based solutions are required
