Please enable JavaScript.
Coggle requires JavaScript to display documents.
Types of Simulation - Coggle Diagram
Types of Simulation
Process Simulation
Process simulation is a method of analyzing and improving business processes that utilizes computerized forecasting models. It allows companies to explore hypothetical scenarios, analyze the impact of changes in processes, and identify opportunities for improvement.
-
-
Monte Carlo
Mathematical method used to estimate the possible outcomes of an uncertain event. It was invented by John von Neumann and Stanislaw Ulam during World War II to improve decision-making under conditions of uncertainty. In summary, it is based on repeated random sampling to obtain numerical results.
-
-