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Simulation technology uses software and hardware to analyze potential outcomes of a situation. It is useful for creating marketing plans, launching PR schemes, and positioning new stores. The process is broken down into three stages: design, execution, and analysis. Simulations can help companies avoid costly mistakes.
Simulation technology is the process of using modern software and hardware to analyze the potential outcome of a given situation, based on known factors and the introduction of one or more variables that have the ability to influence the outcome of a given situation. This type of computer modeling is useful in many different situations, ranging from creating marketing plans, launching PR schemes, and even positioning a new store. The idea behind creating the simulation is to minimize the chance of an undesirable outcome emerging, while also discovering factors that could increase the chances of success.
When using simulation technology to create a simulation model, the process is often broken down into three distinct stages or steps. The first phase of the process is usually referred to as the design phase. Here the basic situation is created, effectively providing a starting point for evaluation. For example, if the idea is to determine what kind of results are likely to occur with a marketing campaign, the blueprint or template will be the actual marketing plan, complete with its provisions for using different media in the advertising, the nature of the products to be advertised, and also the packaging of the products to be marketed.
The second stage of simulation technology is known as execution. During this phase, the model created during the design phase is put into place. Along the way, various types of crash scenarios are integrated into the action, with the goal of determining how well the design responds to these different factors and what happens as a result. This stage can help identify what is likely to happen if the use of print media in the marketing campaign fails to reach the right consumer market, while TV or radio ads not only reach the target market but also open a unexpected market niche. At this point in the simulation technology process, the focus is on what might happen and not necessarily why various factors are affecting the outcome.
A final phase of simulation technology focuses on analyzing the outcome of the execution phase. It is at this point that the search for answers as to why the print media portion of the campaign failed and why the electronic media portion of the campaign exceeded expectations. Once you have identified the answers, you can go back to the first step, adjust the structure of the model at design time, and run a second simulation. It’s not unusual for a company to run these computer simulations repeatedly as part of the process of refining a campaign or other major action before actually choosing the final course of action. While simulations can be costly, both in terms of time and money, they often pay off by helping companies avoid what could be costly mistakes.
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