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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Business Data Analysis-Discussion (2)

Business Data Analysis-Discussion (2)

Q What is an example of a problem that you feel could be solved by the use of a simulation activity? In your post, specify what the problem is that you'd like to solve and how you would specify a model that would address the problem. You don't have to actually collect data or run a simulation for this—we're just looking for how you would analyze it. Post a thorough response to the questions. Be sure to read and respond to your peers as well. To gain full-credit for your work, you must post substantive responses and reply to postings. Respond to anyone who comments on your post. The Business Research guide (Links to an external site.)Links to an external site. in the EC Library may assist you. Note: Discussions are to be interactive and emulate the classroom environment. After you have posted your introduction, be sure to come back periodically to read what others have posted. Critique the posts of your classmates. Also, respond to critiques and comments on your initial post.

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Simulation is a model that can be used to test the real world problem by running different set of random variables. It is not always possible to roll out the model in the real life, so it would be a better to run the model in simulation to understand the effect of the variables for their different values. The process of simulation is popular among the business enterprises as this is comprehensible and user friendly for the employees from all level.