How can simulation be used to make better decisions? What is involved in the successful practice of simulation?
Simulation models are powerful management tools, providing a means for increasing an organisation’s efficiency and effectiveness by enabling it to understand its operations systems and explore how to improve them.
Advances in modern software mean that simulation is accessible to many organisations. However, there is much more to simulation than simply using a software package. Various issues have to be addressed, such as what to include in the model, how to deal with uncertainties in the data, and what experiments to perform. It is also important to consider the accuracy of the model and the results that are obtained.
Simulation: The Practice of Model Development and Use describes the activities involved in a simulation study, drawing together both the theoretical and the practical perspectives.
Key benefits of the new edition:
Provides a step-by-step guide for performing simulation studies.
Focuses on applying simulation to real world problems.
Concise mathematical content, with clear explanations of key statistical concepts.
Key concepts illustrated through a range of case study examples.
