Presenter: John Noguera, Co-Founder and CTO of SigmaXL
The Web Demo will cover the following three case studies.
1. Retail Profit Simulation:
This is an example of Monte Carlo simulation to determine probability of daily profit using a basic profit model for a small retail business. We will apply distribution fitting to historical data and specify input correlations to define the model in a way that closely matches our real world business. Sensitivity analysis will be performed to determine the key input factors affecting profit.
2. Magazine Production Optimization:
This is an example of simulation and optimization to determine optimal magazine production quantity for newsstand distribution to maximize net profit. A custom discrete distribution will be used to model customer demand.
3. Six Sigma DMAIC Project Portfolio Selection:
This is an example of discrete optimization used to select projects that maximize expected cost savings and minimize variability subject to a constraint of total resources.
