The Top 3 Signs Your Business Is Ready for Simulation
For many, the notion that you can recreate a virtual market that has a high predictive accuracy is fairly new.
Simulation enables you to launch new ideas, conduct competitive gaming, and forecast outcomes before committing resources. If this risk mitigating approach is new to you, you might find this white paper useful.
If you are familiar with simulations and want to know if your company is in need of a software alternative to the strategy consulting that normally answers the “What-if” question, look for these 3 things:
- Data Frustration: Research shows that most companies have 5 to 30 analytic tools that they comb through for insights on marketing effectiveness. These multiple versions of the truth often paralyze as much as they mobilize. If you have more than 7, simulation may be your next step that brings those tools together for one version of reality.
- Strategic Failure: As the dynamics of the marketplace accelerate, more initiatives are missing projections, arriving late, or opening opportunities for competitors. If you are experiencing the unintended, undesirable, or unplanned you may need simulation to help you find alternatives. If you are experiencing all three, it may be time to try a new approach.
- Competitive Intensity: In some industries the rules of the game are changing constantly. Whether it is disruptive technologies, aberrant new entrants, or an entrenched foe getting tougher, simulation is the only technology that allows users to war-game out their day-to-day battle for market share.
Simulation is now a proven aid to decision making. And while the software may be ready for users, the big question to answer is: “Are we ready for simulation?”