Vanguard Software Invited to Join
Probability Management.org Consortium
Vanguard Recognized as an Innovator in Promoting a
Unified Approach for Management in the Face of
Uncertainty
Cary, NC – November 15, 2007 – Vanguard
Software Corporation, the leader in management systems
for planning, analysis, and knowledge automation, has
been invited by Dr. Sam Savage to join
ProbabilityManagement.org, a consortium of business
leaders and academics who are working to promote a
unified approach for management in the face of
uncertainty. The consortium has three primary areas of
focus:
- Managerial: Protocols to balance managerial and
statistical credibility;
- Informational: Stochastic Information Systems for
storing and retrieving probability distributions;
and
- Technological: Software and hardware to promote
the intuitive understanding and communication of
uncertainty.
The invitation has been extended in recognition of
Vanguard Software’s work in all three of these
areas, including their innovative Enterprise Simulation
solution, the Vanguard System™.
“Vanguard has taken a sensible approach to
modeling uncertainty,” says Dr. Sam Savage, Founder
of ProbabilityManagement.Org and Consulting Professor at
Stanford University. “Their component design can
capture the statistical knowledge of experts in one area
of an organization and transfer it to managers in a
different area. Furthermore, it allows sub-models to be
consolidated into larger models while preserving the risk
sensitivity to global technical or economic
uncertainties."
Vanguard CEO, Rob Suggs explains, “Vanguard
Software has been promoting the concepts of Probability
Management and Enterprise Simulation in parallel to Sam
for years. In fact, the Vanguard System was developed
precisely to give businesses an effective way of
capturing, consolidating, and analyzing the knowledge
about risks and uncertainties that is spread throughout
their enterprise in order to make better decisions.”
He adds, “Joining ProbabilityManagment.org is a
great opportunity to continue our work in the Probability
Management and Enterprise Simulation space along with
other respected leaders around the world.”
Vanguard System is the first commercial software
solution to enable Enterprise Simulation. Enterprise
Simulation requires a mechanism to effectively capture,
store, retrieve, and consolidate knowledge about risks
and uncertainties (specifically in the form of
probability distribution models). Vanguard System
provides this mechanism through its innovative
component-based modeling approach. Business analysts,
modelers, and subject matter experts build component
models that represent basic assumptions about risks and
uncertainties. The components are published to a central
repository, known as a Library, to be shared and re-used
by others. The components can be assembled into more
powerful simulation models, which in turn can be used as
components in even higher-level models. Since the
components are all dynamically linked, top-level business
simulations run in real-time based on the most up-to-date
risk and uncertainty assumptions meaning that changes in
any component are automatically distributed to all
higher-level models.
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About Vanguard Software
Vanguard Software is a privately held corporation founded in
1995 to develop business Decision Support software. Customers in
over 60 countries and in every major industry use Vanguard’s
software for forecasting, resource optimization, Web-based expert
systems, and financial modeling. For more information about
Vanguard, visit http://www.vanguardsw.com/.
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