Software & Application development Cost?
Ans. Most of the software in the area of modelling and simulation are costly with or without annual renewal fee. The development cost is also high mainly because it is to be used by specialized Division and the requirement is very small. As in CAD and GIS area the number of users are small as compared to RDBMS users, and thus involves high cost in terms of the software tools and technical expertise. Back to top Q. Training pre-requisite for modelling and application development Ans. Indepth subject knowledge is a must besides an aptitude in the area. Econometric models can be developed faster and much more efficiently if a person has the basic knowledge about the econometrics technique. Similarly, the optimization models requires the basic to in-depth knowledge about the optimization techniques/theory and its applications Operational Research as well as in-depth knowledge in terms of model building testing and interpretation of the final results.
