Question

When we consider using simulation models, should we also consider knowledge about the business? Why is this important?

Answer 1

Simulation models are the models which are almost accurate and real as of real models or operations in the business.Actually these models are being used when the organization is going to start such an operation which can be very risky and expensive.Such a model helps in implementing all the decisions to such a simulation model so that if anything goes wrong then it can be corrected in the real situation.Thus these simulation models are of great help to many organisations when they are about to start very risky operation in the business organisation.Thus these models are very important to every organization as it helps in saving money and a lot of energy of the various employees of the organization.Yes the knowledge about the business organisation can also be used because it can be helpful in the proper understanding of the various things.