SIMULATION ANALYSIS: AN OVERVIEW
Keywords:
Simulation, Monte Carlo, Continuous Simulation, Ethical ConsiderationsAbstract
Simulation is a versatile and indispensable tool in various fields, offering a dynamic lens through which complex systems can be understood, analyzed, and optimized. This paper provides a comprehensive overview of simulation, encompassing its historical evolution, diverse types, and prominent applications. From its origins in ancient civilizations to its contemporary computer-based forms, simulation has been instrumental in modeling intricate real-world phenomena. This paper explores different types of simulation, including Monte Carlo, continuous, discrete-event, agent-based, and system dynamics, elucidating their unique characteristics and applicability. Through real-world examples, we illustrate the practical utility of simulation in diverse domains, from estimating mathematical constants to modeling population dynamics and simulating airport operations. Furthermore, we delve into the challenges and ethical considerations that accompany simulation, addressing issues of bias, transparency, privacy, and responsible technology use. As a powerful bridge between theory and practice, simulation continues to be a fundamental tool for understanding complex systems and driving innovation.
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