WSC 2009 Final Abstracts

The Model with a Thousand Faces
Paul Fishwick (University of Florida)

Abstract:
Models are the bread and butter of computer simulation. We need to build a model to represent an object. We use the model instead of the original object which may be too bulky, too small, or too impractical or expensive to use directly. A model is a product used to support communication and human interaction much like a book, movie, or game. Even though there may be only one "Lord of the Rings" by J. R. R. Tolkien, there are thousands of ways to experience this story. Similarly, there are many models in simulation used to represent the same object, and different ways to experience this object. The variety of models available to us can be sorted through by considering the goals, needs, and personal preferences of different people. A model that may serve well to communicate to your colleague may be wrong for those of other disciplines, your management, or for the public at large. I will cover the issue of model choice and will more generally overview the current state of the art in modeling and suggest new directions for modeling practice and research.

Simulation For The Masses: Spreadsheet-Based Monte Carlo Simulation
Thomas J. Schriber (The University of Michigan)

Abstract:
Spreadsheet-based Monte Carlo simulation has come into relatively widespread use as a methodology supporting studies in risk analysis for a broad range of problem types in areas such as operations management, finance, and marketing. The basic methodology is quite easily assimilated by those familiar with the fundamentals of probability, statistics, and sampling, and the practical applications of the methodology are compelling. Practitioners of discrete-event simulation can master spreadsheet-based simulation especially easily, and can expand their skill set importantly by doing so. This paper provides suggestive examples for the use of spreadsheet-based simulation and briefly explores the underlying methodology, mentioning the relevant native Excel tools and reviewing elements of one of the commercial Excel add-ins available to support use of the methodology. The presentation itself will include demonstration and discussion of the dynamics of spreadsheet-based Monte Carlo simulation.