Site Loader

Data lab – Monte Carlo Simulations

  • March 27, 2019
    1:00 pm - 4:00 pm

NOTE THE LOCATION FOR THIS LAB IS AT THE AIM GROUP, 130 ALBERT ST

 

We often hear of people being shown the results of Monte Carlo simulations, or maybe reading about them and wondering if they can be applied in their work environment.

This workshop aims to demystify what Monte Carlo Methods are and we will walk through a facilitated session building up a simulation (using Oracle Crystal Ball) to show the component pieces and strategies used.

From Wikipedia:

“Their essential idea is using randomness to solve problems that might be deterministic in principle. They are often used in physical and mathematical problems and are most useful when it is difficult or impossible to use other approaches. Monte Carlo methods are mainly used in three problem classes:[1] optimization, numerical integration, and generating draws from a probability distribution”

We also encourage you to bring along your problems so that we can group brainstorm solutions together.

 

Some topics are fixed (e.g. the third Wednesday in every month is a Power BI lab) and the other sessions will be announced typically with 2 weeks notice.

We aim to run a minimum of 3 labs per month

 

Venue:  

Address:
130 Albert St, Ottawa, Ontario, Canada, K1P 5G4

Post Author: Stephen Davies

Stephen is the CEO of DAVHILL Group, a Business Intelligence and Data Analytics company based in Ottawa, Ontario.

He has more than 25 years of experience working in both public and private sectors. Early in his career in operations management he started to do data analysis and never quite escaped.

With an academic background in Physics and Engineering he has worked in semiconductor and OEM manufacturing as an engineer and supply chain director. As a Business Intelligence and Process Transformation consultant he seems to spend most of his time either playing with aircraft in the aviation industry or with the Federal Canadian Government.

As the CEO of the DAVHILL Group, Stephen's main focus is to make data real and useable for everybody. DAVHILL specializes in Business Intelligence, Artificial Intelligence and Machine Learning systems implementation and is delighted to provide training courses to the Data Action Lab.