They can also run what-if scenarios to see the impact of accepting a tender, for example.

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"A very cumbersome, manual process is now very efficient, and we can do what-if scenarios for the first time, " says Alan S. Davis, a Southwest vice president.

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Risk measurement entails complex correlation analyses and what-if scenarios, and there is a trend among financial services firms to outsource this work, says Morningstar analyst Swami Shanmugasundaram.

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We'll have open discussion on potential trades, and a lot of them may be our own what-if scenarios, but we'll explore all avenues to try to better our roster, to increase the competition on our roster.

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Since those what-if scenarios were never considered, and especially since it took so long for BP to identify a way to stop the leak, the green reputation BP tried to build over the years cracked and sunk along with the rig.

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Frenzied headlines in newspapers -- and maps displaying a variety of "what-if" scenarios.

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"We think in the end, we'll be on the right side of the law and we will never get to the 'what-if' scenarios, " Smith said.

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