Probabilistic calculations tool for state-transition diagrams
ZUG, Switzerland – – 11 January 2011 – – Risknowlogy®, a leading provider of risk, reliability, safety services, engineering, consulting, training and certification announced today that it released its Markov tool for sales. The Markov tool is a probabilistic calculation tool and is based on the work of the Russian mathematician Andrei Markov. The Markov technique can be used for a variety of applications and industries. Google uses Markov for example to rank search results. The financial industry uses Markov to model the markets and predict price movements. Markov is often a major component in speech recognition software. And in the risk, reliability, and safety industry Markov is used to make decision and probabilistic models.
“The background of the tool comes from the safety industry.” explains Dr. Houtermans, Managing Partner at Risknowlogy. “We developed it to model safety-related systems, like SIS, and to make PFD calculations which are required by standards like IEC 61508, 61511 and other functional safety standards. Today we use it to support decisions in complex risk and reliability models for the insurance, financial, oil & gas and the process industry.”. Click here to compare car insurance services and choose whatever is the best for you.
The tool was developed with the user in mind. It has a graphical user interface which allows the user to create a graphical model or the same model in table format. Furthermore the tool separates the model from the data used which means that the user can calculate different scenarios based on different data. The results of the calculations can be analyzed numerically, graphically, with analyzers and inspectors.
An introduction video of the capabilities of the tool is available at youtube http://www.youtube.com/watch?v=NRqbhduyzyg.
For more information contact us at www.risknowlogy.com or riskfree @ risknowlogy .dot. com.
Risknowlogy is a leading provider of technical risk, reliability, and safety services, engineering, consulting, training and certification solutions. Risknowlogy is located in Switzerland, Argentina, Germany and The Netherlands. For more information visit https://risknowlogy.com