Let's answer the first question that you might be asking. It is Freeware, so what is the catch? The catch is that it shows a very little small link at the top right corner of the app, clicking that link will show you our featured decision analysis product Rational Will®, as you can see in the screenshots. And that's it.
Wizard-based guided User Experience
The Markov Chain Calculator software lets you model a simple time-invariant Markov chain easily by asking questions in screens after screens. Therefore it becomes a pleasure to model and analyze a Markov Chain.
Calculated Results in the Charts
Lots of useful charts are available to analyze the Markov chain. The charts can be popped out to a separate window to display all at the same time.
Chart Data can be shown as Table or exported to Excel
Every chart in this application is featured with a context menu (right mouse click) that lets you view the data table in a data grid, or export the table directly to Excel. You can copy the data table as CSV too. Also, you can copy the chart image to Clipboard, or save it as PNG or JPG.
Custom State Expression with a Rich Math Editor
It won't be fun if you cannot forecast a composite or custom state. Yes, a rich math-based expression editor is available where you can drag and drop a state into the expression editor and use a lot of built-in math functions. The chart tab will show the chart for your custom expression.
Check Rational Will for advanced Markov Decision Process.
This Markov Chain Calculator lets you model a Markov chain with States but no rewards can be attached to a state. If you want to attach Utility or Reward to a state and then if you want to calculate the Expected Utility or Cumulative utility of a state, then you will need to use our Decision tree software which is bundled in our flagship product Rational Will®. In our Decision Tree software, you will be able to add one or more Actions from a State and then you will see an evaluated policy as a Markov Decision Process. Therefore, if you get Rational WIll, you won't need to acquire this software separately.