In a brief view, a simulation can be understood as the imitation of the operation of a real-world process over time.
Have you ever faced situations which demanded from you fast and reliable answers regarding, for example, the predicted date some tasks can be accomplished or even the forecasted quantity of tasks that should be finished until date X? If your answer is “yes”, then you probably could benefit from using a Monte Carlo Simulation in order to give data-driven feedback to your clients, project stakeholders and team members.īefore we dive into what Monte Carlo Simulation is really about and how to use it in practice, let’s get a quick understanding of what simulation means.
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