David B.

There are three main modelling and simulation methods for business: Discrete Event Simulation (DES) System Dynamics (SD) Agent-Based Modelling and Simulation (ABMS) Both DES and SD employ a system level or top-down view of processes. With its bottom-up and focus on the behaviour of individual entities (agents), Agent Based Modelling & Simulation offers an innovative way to use and understand data, and to generate insights that have never before been available. Agent Based Modeling and Simulation is becoming increasingly popular for investigating behaviour in complex, non-linear systems and for evaluating the long term operational implications of strategy and policy decisions. Agent Based Modelling and Simulation effectively allows you to see into the future, and to understand and anticipate the likely effects of internal and external decisions on the behaviour of markets, customers and competitors. Agent Based Modelling & Simulation can leverage the under-utilised data amassed in your Customer (CRM), staff (HR) and Enterprise Resource Planning (ERP) databases, to re-create and predict the appearance of complex phenomena and compare scenarios to optimise strategy. Agent Based Modelling and Simulation attributes autonomy to individual customers, employees, patients, business units, products or projects etc and assesses how the behaviour, interactions and relationships of these entities impact on the system as a whole. In Agent Based Models, agents are allowed to evolve, resulting in the emergence of behaviours which might not otherwise have been anticipated. Even a simple system can exhibit complex behaviour, providing valuable insight on which to base strategic decisions.