Business Modeling and Simulation
Hello Beretti, I am an MBA student and pursuing my specialisation in Business Modeling and Simulation. The basic needs to understand and apply this subject are enough knowledge of MS Excel and of Distribution theory.
Especially consider Normal Distribution, Uniform Distribution, Erlang Distribution, Triangular and many more....
An important thing is the application of these distributions
Example: when we say there is waiting line model, we generally generate ramdom number for our service time (customers spend time to get their services). It should be exponetial..
It depends from model to model.. When there is inventory model it is Normal Distribution.
I m also preparing a model for my Business which I'm going to start in the near future.. I hope this information will help you..