Monte Carlo WP cover page 3dMonte Carlo simulation, or probability simulation is a common numerical method used by risk managers across a variety of industries to understand the impact of risk and uncertainty in prediction and forecasting models.

In this paper we provide some background on the origin of this methodology and how it works and provide some specific examples of how it can be used within risk management.  We also discuss how the use of Xactium and Monte Carlo as part of your risk management process can provide a number of benefits and competitive advantages to your business.

 

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