What is simulation used for?
Companies use interactive simulations for scenario planning and strategy development. For example, management can see changes in customers’ and competitors’ behavior when it changes prices, adjusts inventory policies, or shifts resources among business units. Interactive simulations are also used to help others understand the reasoning behind decisions. Several Powersim Studio users have built simulations that are used as part of training courses on strategy development. Interactive simulations are particularly helpful for customer education. For instance, companies can include customers in “what if” scenarios and show the effects of a new product or service on the customers’ businesses. Simulations have also been successfully used for employee training. They are an ideal way for staff to interact and solve current or potential problems.
Related Questions
- Are SIO tags used to define inputs and outputs of the simulation model and are different definition files used to connect SIO tags to external data structure?
- Can Coprocessor simulations be used in a transaction level simulation environment?
- How can I tell what force field parameters were used in a particular simulation?
