It is common to use a simulation model to support decisions involving a great deal of money, so it is very important to make sure it is accurate. With a simple model, testing that your logic is flowing correctly and that the model is producing reasonable output statistics is easy enough. But the more complex your model becomes, the more complex of an exercise the testing and validation becomes. How can you be sure that complex flows are working correctly (testing) and that the output statistics are realistic (validation)? For that matter, how accurate do you need the model to be in order to meet project objectives? We can walk you through this important project step so that you can have complete confidence in your model.
A good simulation model produces a wealth of information to support your decisions, but it must be managed and interpreted correctly.