Why use simulation modeling?
Simulation modeling solves real-world problems safely and efficiently. It provides an important method of analysis which is easily verified, communicated, and understood. Across industries and disciplines, simulation modeling provides valuable solutions by giving clear insights into complex systems.
Bits not atoms. Simulation enables experimentation on a valid digital representation of a system. Unlike physical modeling, such as making a scale copy of a building, simulation modeling is computer based and uses algorithms and equations. Simulation software provides a dynamic environment for the analysis of computer models while they are running, including the possibility to view them in 2D or 3D.
The uses of simulation in business are varied and it is often utilized when conducting experiments on a real system is impossible or impractical, often because of cost or time.
The ability to analyze the model as it runs sets simulation modeling apart from other methods, such as those using Excel or linear programming. By being able to inspect processes and interact with a simulation model in action, both understanding and trust are quickly built.
To learn how simulation is different from traditional mathematical modeling, read the white paper based on the presentation by Lyle Wallis, director at PwC. It compares the two approaches and demonstrates the commercial use of simulation with case studies from world-famous companies.