The Monte Carlo simulation estimates the probability of different outcomes in a process that cannot easily be predicted because of the potential for random variables.

In recent years, artificial intelligence (AI) has made significant strides in transforming various domains, from healthcare to finance. One area that is rapidly gaining attention is business ...

The SKO can be a defining moment where strategy meets motivation, but it should be viewed as the start of a performance ...

At one time, business simulations were relatively unknown tools, mostly due to the high barrier for entry and usage. As the president of a company that offers business simulations, I've witnessed ...

Bolstered by fast processing speeds and cheap memory, simulation has become far more accessible than in the past. Thus, the development tool has transformed product development. Simulation has ...

Fig. 1. Trade-off between fidelity/accuracy and simulation time for different solutions providing thermo-chemical analysis of composite parts during processing. Photo Credit: Convergent Manufacturing ...

The product development process can be improved with single-physics simulation, multiphysics simulation and simulation apps. This article looks at three real-world examples that show how integrating ...