Uncertainty is a key component of many decisions we make.
Most forecasts and plans include uncertain estimations:
- Future projected sales revenues
- Project cost contingencies
- Oil & Gas reserve level estimations
- Lean and Six Sigma specifications
- Inventory optimization……………… and many more!
You can use historical data and expert knowledge but how do you think in terms of "what if"?
Simulation is a way to easily generate and analyze many possible results, giving you more insight into the accuracy of your forecasts and plans.
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