Can Simulation Software Really Help?
An Executive Summary from ‘The Family Business School’ Nothing benefits an entrepreneur like being able to look into the future. Just imagine if it was possible to do just that in your present business. Why, you’d certainly reap great rewards if you could anticipate what is going to happen. Actually, you can. Thanks to advances in technology, there are now software applications that allow a company to look into its future – business simulation. Business simulation looks into the future by simulating the business environment and analyzing the possibilities. Through analysis of data, the business is able to anticipate manufacturing and marketing conditions and form conclusions about future productivity. Through business simulation, a company is able to prepare adequately for a rainy day or a rainy season, so to speak. There are four key facets of business simulation: · Data Warehousing · Business Analytics and data visualization · Data, Text, and Web Mining · Business Performance Managem
