1/7/2024 0 Comments Anylogic 6 in three days![]() In an upcoming article, I will discuss how to combine ML and Simulation in a real business setting to get the best of both worlds and how to articulate the implications of the different simulated scenarios. Simulation has many strengths that traditional ML algorithms can’t provide - for example, the ability to explore big questions under tremendous uncertainty. ![]() I hope this article offers another look at the Monte Carlo method we often forget such a useful tool in today’s ML discussion. Sign-up here to get notified when they are ready. Some of the case studies are still under active development. I hope the examples illustrate how Monte Carlo Simulation works, its strength in allowing us to explore compared to ML algorithms, and how you can design useful simulations with different design techniques. To create a Monte Carlo Simulation, at the minimum, it follows a 3-step process: If you answer “No” to any of these, then you should consider using Simulation instead of ML algorithms. ask what-if questions and develop tactics to support business decisions)?
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