In just about every sphere of business today, companies routinely utilize computer models to help make decisions. These models take many forms, from simple spreadsheets to sophisticated computer simulations. They may be bespoke models built for a specific company or they may be commercial software packages designed to be used by many different companies. They can be intended for one-time use to help decision makers think through a significant business decision or they can be tools designed for ongoing use within a company. They may be static or dynamic, deterministic or stochastic.
The specific reasons for building a model are as varied as the models themselves, but the chief underlying reason is to assess the impact of a decision or ...
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