Sensitivity Analysis for Business, Technology, and Policymaking Made Easy with Simulation Decomposition (SimDec)

• Format: eBook
• Language: English
• Published: Oxford Taylor & Francis 2024
• Series: Routledge Open Business and Economics
• Subjects: Applied mathematics; Business & Economics; Business and Management; Business Mathematics; Computer modelling; Computer science; Computing and Information Technology; Decision making; Decision-making & Problem Solving; Economics, Finance, Business and Management; Engineering; Environmental issues; Information technology: general topics; Investment analysis; KJMV5 Production and quality control management; Management and management techniques; Management of specific areas; Mathematical modelling; Mathematics; Mathematics and Science; Monte Carlo simulation; Operational research; Operations Research; Policymaking; Reference, Information and Interdisciplinary subjects; Research and information: general; Research methods: general; Risk; Sensitivity analysis; Simulations; Uncertainty
• ISBN: 9781003453789; 103259246X; 1040121381; 9781040121320; 1003453783; 9781040121382; 9781032592466; 1040121322
• DOI: 10.4324/9781003453789

SimDec is a revolution in decision-making support. SimDec “teases out” inherent cause-and-effect relationships and reveals the intricacy of relationships between sets of input and output variables. At its core, SimDec is an amalgamation of uncertainty and global sensitivity analysis with an innovative visualization technique. While straightforward and elegant, this novel approach significantly enhances the analytical capabilities of users by readily exposing seemingly, a priori, counterintuitive behaviours so that they can be readily understood by both technical specialists and non-technical users alike. This book is the first to articulate the ubiquitous applicability of SimDec and has been written by the leading proponents of the technique. The book provides the necessary background to fully understand the underlying approach and then demonstrates its applicability to a wide spectrum of fields, such as finance, entrepreneurship, energy, 3D manufacturing, geology, the environment, engineering, public policy, and even superconducting magnets. To facilitate as widespread adoption and penetration of SimDec as possible, all supporting computer codes are available, open-source, in Python, Julia, R, and Matlab. The innovative material will be of primary benefit to practitioners and researchers analyzing data from the social sciences, business, science, engineering, mathematics, and computing. The Open Access version of this book, available at http://www.taylorfrancis.com, has been made available under a Creative Commons [Attribution-Non Commercial-No Derivatives (CC-BY-NC-ND)] 4.0 license.