Software Alternatives, Accelerators & Startups
Register | Login

@RISK VS Minitab

Compare @RISK VS Minitab and see what are their differences

Electe
Discover Electe, our data analytics platform dedicated to SMEs. Don't let your data go unused, take your business into the future! featured
Note: These products don't have any matching categories. If you think this is a mistake, please edit the details of one of the products and suggest appropriate categories.
Contents:
  1. » Base Details
  2. » Videos
  3. » Reviews
  4. » Alternatives

@RISK logo @RISK

@RISK is the world's most widely used risk analysis tool.

Minitab logo Minitab

Minitab helps businesses increase efficiency and improve quality through smart data analysis.
  • @RISK Landing page
    Landing page //
    2023-10-17
  • Minitab Landing page
    Landing page //
    2023-07-04

@RISK features and specs

  • Comprehensive Risk Analysis
    @RISK provides a detailed and comprehensive risk analysis by using Monte Carlo simulation, which allows users to understand the variability and uncertainty in their models.
  • Excel Integration
    @RISK is integrated directly with Microsoft Excel, making it intuitive for users who are familiar with Excel to build their models and perform risk analysis without needing to learn a new interface.
  • Scenario Analysis
    The software allows users to perform scenario and sensitivity analysis, enabling a deeper understanding of which variables have the greatest impact on their models.
  • Reporting and Visualization Tools
    It offers a variety of tools for reporting and data visualization, making it easy to present findings to stakeholders in a clear and impactful way.
  • Custom Distributions
    @RISK provides flexibility with custom distributions, allowing users to fit their data to a wide range of probability distributions.

Possible disadvantages of @RISK

  • Complexity for Beginners
    The software can be complex for beginners or those not familiar with statistical modeling and Monte Carlo simulations, potentially requiring significant time to learn effectively.
  • Cost
    @RISK can be expensive for individual users or small businesses, which might be a barrier compared to other simpler or free alternatives.
  • Excel Dependency
    Being a tool that works within Excel, its performance and capabilities are limited by the functionalities and limitations of Excel itself.
  • Resource Intensive
    Running large simulations can be resource-intensive, requiring significant processing power and potentially leading to performance issues on less powerful hardware.
  • Steep Learning Curve for Advanced Features
    While basic features might be easy to grasp, mastering the advanced features and functionalities of @RISK could require extensive training and experience.

Minitab features and specs

  • User-Friendly Interface
    Minitab offers a highly intuitive and easy-to-navigate interface, making it accessible for users at all skill levels.
  • Comprehensive Statistical Tools
    The software provides a wide range of statistical analyses, including regression, ANOVA, time series analysis, and more, which can meet diverse analytical needs.
  • Excellent Support and Documentation
    Minitab provides excellent customer support, including detailed documentation, webinars, tutorials, and a responsive help desk.
  • Integration Capabilities
    The software can easily integrate with other tools and platforms, enhancing its functionality and enabling seamless data flow.
  • Real-time Data Analysis
    Minitab supports real-time data analysis and visualization, allowing users to make quick, data-informed decisions.

Possible disadvantages of Minitab

  • Cost
    Minitab can be quite expensive, particularly for small businesses or individual users, which may limit its accessibility for some.
  • Limited Advanced Machine Learning Tools
    While Minitab excels in traditional statistical methods, it lacks some of the advanced machine learning tools and capabilities found in other software like Python or R.
  • Resource Intensive
    The software can be resource-intensive, requiring significant computational power and memory, which might not be suitable for older or less powerful computers.
  • Learning Curve for Advanced Features
    While basic features are easy to use, mastering advanced features and complex analyses can have a steep learning curve, particularly for beginners.
  • Limited Customization
    Minitab offers fewer customization options compared to other statistical tools, which can be restrictive for users needing tailored solutions.

Analysis of Minitab

Overall verdict

  • Minitab is generally considered a good choice for those in need of powerful statistical analysis tools, especially in environments where quality control and process improvement are priorities. Its ease of use and comprehensive feature set make it suitable for both beginners and experienced statisticians.

Why this product is good

  • Minitab is a widely recognized statistical software that is favored for its user-friendly interface and robust analytical capabilities. It provides a range of tools for quality improvement and data-driven decision-making, making it popular in industries like manufacturing, healthcare, and academia. The software’s ability to automate complex statistical calculations and provide clear outputs is appreciated by users with varying levels of statistical expertise.

Recommended for

  • Manufacturing professionals seeking quality improvement tools
  • Academics and students studying statistics
  • Healthcare professionals involved in data analysis
  • Engineers and process consultants focusing on Six Sigma and Lean projects
  • Businesses looking for reliable statistical analysis for research and development

@RISK videos

No @RISK videos yet. You could help us improve this page by suggesting one.

Add video

Minitab videos

+ Add

Introduction to Minitab | An Overview of Minitab

More videos:

  • Tutorial - Minitab Tutorial | Minitab Training Video | What is Minitab? | Introduction to Minitab
  • Review - 31 Minitab Review

Category Popularity

0-100% (relative to @RISK and Minitab)

@RISK

Minitab

Governance, Risk And Compliance
100 100%
Governance, Risk And Compliance
0% 0
Data Dashboard
20 20%
Data Dashboard
80% 80
Technical Computing
100 100%
Technical Computing
0% 0
Big Data Analytics
0 0%
Big Data Analytics
100% 100

User comments

Share your experience with using @RISK and Minitab. For example, how are they different and which one is better?
Log in or Post with

Reviews

These are some of the external sources and on-site user reviews we've used to compare @RISK and Minitab

@RISK Reviews

We have no reviews of @RISK yet.
Be the first one to post

Minitab Reviews

25 Best Statistical Analysis Software
Minitab is a powerful statistical software package that offers a suite of tools for data analysis, regression, hypothesis testing, quality improvement, forecasting, design of experiments, and statistical process control.
Source: www.scijournal.org
Top 10 Free Statistical Analysis Software 2023
10. Automation and customisation are supported through its scripting language, Minitab Macros, for expert users.
Source: fellowshipbard.com
9 Best Analysis Software for PC 2023
Minitab statistical Software is an analytical software with spreadsheets where the user inputs the datasets. The software has a wide variety of analytical tools that can be used to create, calculate, analyze and generate your analysis reports.
Source: pdf.wps.com

What are some alternatives?

When comparing @RISK and Minitab, you can also consider the following products

SAI360 - GRC Platforms

Looker - Looker makes it easy for analysts to create and curate custom data experiences—so everyone in the business can explore the data that matters to them, in the context that makes it truly meaningful.

Oracle Risk Management Cloud - Oracle Risk Management helps to document risks and enforce controls as an integral part of your ERP Cloud deployment

Jupyter - Project Jupyter exists to develop open-source software, open-standards, and services for interactive computing across dozens of programming languages. Ready to get started? Try it in your browser Install the Notebook.

Aptible - Aptible is a secure, private cloud deployment platform built to automate HIPAA compliance.

Google BigQuery - A fully managed data warehouse for large-scale data analytics.

Loading...