Simulations and BizSim
Simulations, before we start talking about them we need to understand what simulations basically are. A simulation is the imitation of the operation of a real-world process or system over time. The act of simulating something first requires that a model be developed; this model represents the key characteristics or behaviors/functions of the selected physical or abstract system or process.
Now the above is definition perfectly summarises what a simulation means, now let us understand it in simpler term, a simulation is a depiction of a situation or a scenario in the virtual world with the aid of technology. Today simulations are helping the world become a safer place for everyone, by helping our pilots be better equipped for tough flying situations. They are also helping people to learn how to drive cars in a realistic scenario without putting any life at risk.
Apart from situations available in the real life simulations are also being used to create mock situations and judge how the person in-charge of the situation will react and whether the situation or the scenario would yield a desired result or not.
As in the above scenarios, you generally do not get a chance to rectify your mistakes in real life, thus a simulation helps you too be better prepared and avoid mistakes. The same holds true for businesses, a strategic decision once taken is not easy to roll back and generally the outcome of the same cannot be verified or checked beforehand. This is where a business simulation kicks in, just like a simulation for any physical attributes based activity a business simulation provides an opportunity to observe and understand the implications of strategic decisions taken by them in the long run all the while having competition also dynamic.
We at BizSim.in have created a platform to help not only students but also businesses to create scenarios in the virtual world and involve them in taking strategic decisions that will impact how the company or a certain vertical will perform, with all the uncertainties being in place. Most of the business simulation engines available in the market right now have got a limitation where they are based on a singular scenario, although they are good to check a persons’ capability to take decisions, but they are based on a certain industry with pre-defined parameters.
At BizSim.in, we understand that every business is unique and would have different parameters internal to it, while external parameters might be same as that of the industry. BizSim team, collaborates with the business team and creates a matrix, which is fed into our simulation engine and creates a realistic business environment which is relevant to our clients. We also have a computer AI, which keeps on feeding variables and creating uncertainty so as to keep the environment dynamic.
We all know that no two people think alike and the same is true for teams and its members, these simulations also help us in analysing the efficiency with which different members of the team would perform together. This variability also helps in creating a simulation environment which is changing with every decision, even if we remove the AI the teams would have an environment which will be ever changing and competitive.
So come on-board and try the BizSim.in way of testing your ideas and businesses…..