This blog discusses the applications of Monte-Carlo simulation methods by modeling real-world situations, explaining those using well known and often researched statistical distributions such as the Poisson distribution and then applying optimization models to solve a variety of business problems thus enabling managers to take decisions by moving beyond the usual methods and what-if scenario analysis.
Added by Debleena Roy on September 5, 2014 at 5:00pm — No Comments
When Edward De Bono spoke about the six thinking hats way back, he definitely did not visualize the emerging field of data science. The hats were meant to be an aid for lateral thinking and brainstorming. Over the years, the hats have seen many creative uses in the corporate world. 3M used the six thinking hats for new product development, a new type of duct tape. Boeing used the six thinking hats to resolve a management vs. union deadlock. And J. Walter Thompson is reported to have used the…Continue
Added by Debleena Roy on September 2, 2014 at 5:17pm — No Comments