Excel Modelling and Simulation 2017-05-29T06:35:39+00:00

Modelling & Simulation

Simulation & modelling is one of the most exciting operations that you can do in Excel. I’ve written models the long way and the shorter way, and Excel can be a real time saver.

There is no better way of ‘getting under the skin’ on a problem than to simulate and model it.  Excel is an excellent platform for both, and we at Excel Frome recommend it for your next project.

Modelling and simulating in Excel – the advantages

1. Harness Excels mathematical abilities with minimal effort

Save development time.  Use VBA and libraries such as  NAG to expand on its abilities when necessary.

2. Specialist knowledge on the subject

At Excel Frome we have specialised expertise, in modelling physical, biological and business systems

3. Analyse Data FAST

Use Excel Pivot tables, Data Models, Formulas and Functions. Then use Excel Macros to push your productivity to the next level.

4. Display your results

Then display and present your new results, in a stunning dashboard report.

5. Connect to data sources with ease

Excel is almost without parallel when it comes to connecting to data sources. If it can’t connect ‘out of the box’ its usually an easy matter to write a data loader for your data.

The kinds of questions our customers ask us.

A Monte Carlo simulation, is a  mathematical technique, conducted on a computer. Which allows us to account for risk in our decision making. In an unpredictable world, such a system can be very useful. Read More about Monte Carlo hide

Its used in many fields of study such as energy, manufacturing and finance. As well as project management,transport and environmental, to name a few.

A Monte Carlo simulation thus helps you, the decision-maker to explore various choices of action. Safely and without any real risk.

For each choice of action you explore with the model, You will see a range of possible outcomes. with a predicted likely hood of these outcomes occurring. So you can explore the whole range of possibilities, from conservative ‘hands off,’ through to ‘going for broke.’

Wikipedia entry –

A mathematical model is a description of a system using mathematical concepts and language. The process of developing a mathematical model is termed mathematical modeling. Mathematical models are used in the natural sciences (such as physics, biology, earth science, meteorology) and engineering disciplines (such as computer science,artificial intelligence), as well as in the social sciences (such as economics, psychology, sociology, political science). Physicists, engineers, statisticians, operations research analysts, and economists use mathematical models most extensively. A model may help to explain a system and to study the effects of different components, and to make predictions about behaviour.Mathematical models can take many forms, including dynamical systems, statistical models, differential equations, or game theoretic models. These and other types of models can overlap, with a given model involving a variety of abstract structures. In general, mathematical models may include logical models. In many cases, the quality of a scientific field depends on how well the mathematical models developed on the theoretical side agree with results of repeatable experiments. Lack of agreement between theoretical mathematical models and experimental measurements often leads to important advances as better theories are developed.

Excel Modelling and Simulation Case Studies

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