GOLDSIM – MAKING BETTER DECISIONS IN AN UNCERTAIN WORLD
by G.Errico with the Team MONACO GoldSim is proud to be the premier Monte Carlo Method simulation software solution for dynamically modelling complex systems in business, engineering and science.
Simulation is a decision support tool to evaluate, compare and optimize alternative designs, plans and policies. Simulation should be used when the consequences of a proposed action, plan or design cannot be directly and immediately observed (i.e., the consequences are delayed in time and/or dispersed in space) and/or it is impractical or prohibitively expensive to test the alternatives directly. Simulation is particularly valuable when there is significant uncertainty regarding the outcome or consequences of a particular alternative under consideration.
- GoldSim supports decision and risk analysis by simulating future performance while quantitatively representing the uncertainty and risks inherent in all complex systems.
- GoldSim is a general-purpose simulator that utilizes a hybrid of several simulation approaches, combining an extension of system dynamics with some aspects of discrete event simulation, and embedding the dynamic simulation engine within a Monte Carlo simulation framework.
- GoldSim is a powerful and flexible probabilistic simulation platform for visualizing and dynamically simulating nearly any kind of physical, financial, or organizational system. You build a model in an intuitive manner by literally drawing a picture (an influence diagram) of your system. In a sense, GoldSim is like a “visual spread sheet” that allows you to graphically create and manipulate data and equations. GoldSim moves beyond spread sheets, however, by making it much easier for you to evaluate how systems evolve over time, and predict their future behaviour.
- GoldSim is a general-purpose probabilistic simulation platform, and as such, has been utilized for a wide range of diverse applications. Most GoldSim applications fall into one of three categories: 1) environmental systems modelling; 2) business and economic modelling; 3) engineered systems modelling. Examples of GoldSim applications include water resource planning and optimization, modelling water and waste management at mines, simulating long-term risks associated with disposal of hazardous and radioactive waste, evaluating the reliability of complex engineered systems (e.g., defense systems, processing facilities), evaluating risks associated with space missions, and long-term strategic planning for complex projects and business systems.
- GoldSim has a proven track record, and is used by over 300 organizations in over 30 countries to address a wide range of complex issues. Our users include government organizations (such as the US Department of Energy, NASA, and the California Department of Water Resources) in over 10 countries, as well as large corporations such as Caterpillar, ConocoPhillips, and BHP Billiton.
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