Sensitivity Analysis for Business, Technology, and Policymaking : Made Easy with Simulation Decomposition (SimDec) - Mariia Kozlova

Sensitivity Analysis for Business, Technology, and Policymaking

Made Easy with Simulation Decomposition (SimDec)

By: Mariia Kozlova (Editor), Julian Scott Yeomans (Editor)

Hardcover | 12 September 2024

At a Glance

Hardcover


RRP $284.00

$200.95

29%OFF

or 4 interest-free payments of $50.24 with

 or 

Aims to ship in 7 to 10 business days

SimDec is a revolution in decision-making support. SimDec "teases out" inherent cause-and-effect relationships and reveals the intricacy of relationships between sets of input and output variables. At its core, SimDec is an amalgamation of uncertainty and global sensitivity analysis with an innovative visualization technique. While straightforward and elegant, this novel approach significantly enhances the analytical capabilities of users by readily exposing seemingly, a priori, counter-intuitive behaviors so that they can be readily understood by both technical specialists and non-technical users, alike.

This book is the first to articulate the ubiquitous applicability of SimDec and has been written by the leading proponents of the technique. The book provides the necessary background to fully understand the underlying approach and then demonstrates its applicability to a wide spectrum of fields such as finance, entrepreneurship, energy, 3D manufacturing, geology, the environment, engineering, public policy, and even superconducting magnets. To facilitate as widespread adoption and penetration of SimDec as possible, all supporting computer codes are available, open-source, in Python, Julia, R, and Matlab.

The innovative material will be of primary benefit to practitioners and researchers analyzing data from the social sciences, business, science, engineering, mathematics, and computing.

Industry Reviews

"This book on sensitivity analysis by Mariia Kozlova and Julian Scott Yeomans summarizes the state-of-the-art method for computational model analysis, the revolutionary Simulation Decomposition (SimDec). For readers like me working in the general areas of modelling, optimization and machine learning, I find this book extremely useful because it essentially has everything about SimDec in one package, which makes it an effective tool to do global sensitivity analysis. The results are easy to understand, with colorful visualization, uncertainty quantification, and a wide spectrum of diverse applications. In addition, the open-source SimDec software with code packages in Python, R, Julia and Matlab will revolutionize the ways for training next-generation scientists and practitioners to do the right kind of sensitivity analysis so as to figure out the most influential factors correctly and to support more informed decision-making."

Xin-She Yang, Reader at Middlesex University London, Fellow of the Institute of Mathematics and its Applications (FIMA), UK

"Simulation decomposition is an incredibly powerful technique that allows researchers and engineers to identify key factors influencing the performance of a system and make targeted improvements. This book provides a simple and accessible guide to understand and apply the technique to practical problems. The accompanied open-source SimDec code is the key to enable the reader to quickly learn and apply the method."

Leifur Leifsson, Associate Professor, School of Aeronautics and Astronautics, Purdue University, USA

"Simulation Decomposition methodology, a "Monte Carlo"- based computational algorithm, is quickly becoming a game-changer in the world of engineering, industry, and finance. In this newly published book, Julian Scott Yeomans and Mariia Kozlova explore the importance of this method in providing an accurate and detailed holistic picture of the behavior of complex systems. The book delves into the real-life applications of Simulation Decomposition, highlighting its effectiveness in optimizing processes and improving product designs. Through detailed case studies and insights from industry experts, readers will gain a thorough understanding of this powerful methodology and its potential for transforming the way we approach complex systems."

Kambiz Vatan-Abadi, Chief Innovation Officer, CI Financial, Canada

"SimDec is an ingenious way to tame the combinatorial complexity of systems' behavior in real-world decision making. Its deceptively simple approach visually reveals the hidden factors that materially impact an uncertain outcome. This new method for determining sensitivity indices seems a hidden gem. Its transparency is invaluable to practitioners. Credit is also due to the authors for making an otherwise challenging topic most entertaining and accessible to practitioners. SimDec's ease-of-use should make it the de facto standard for data analysis in industrial, engineering, and scientific environments."

Kalyan Moy Gupta PhD, Founder and Vice President of Research, Knexus Research, Washington DC, USA

"Black box functions with uncertain inputs are used to encode knowledge in many areas of science, engineering and commerce. The challenge is to get that knowledge back out for the benefit of users. The customary approaches focus on subtle mathematics and expensive computations. This book presents SimDec, which produces interpretable graphical representations that support discussions and discovery."

Art Owen, Max H. Stein Professor of Statistics, Stanford University, USA

"The fusion of sensitivity analysis with uncertainty analysis through SimDec, as presented in this book, marks a watershed moment for business professionals and GenAI developers alike. It's a guidebook for those who dare to challenge the status quo, offering not just insights but a comprehensive toolkit for transformative decision-making. A testament to the power of interdisciplinary collaboration and open-source innovation in shaping the future of technology. Essential reading for leaders driving innovation in uncertain times."

Anferny Chen, CEO and Founder, Dataraction/DotsLive.Com, Canada

"This book articulates the SimDec method for global sensitivity analysis by combining a novel visual uncertainty analysis approach with the discriminatory capabilities of a newly-created technique for calculating sensitivity indices. The real beauty of SimDec is that it can be straightforwardly applied to virtually any field of data analysis, irrespective of the mathematical sophistication of the user. I have been working with system dynamics, optimization, stochastic programming, and other analytical approaches for over three decades. One regret I now have is that there was no SimDec procedure in existence at the time to support these activities."

Gordon Huang, Canada Research Chair & Professor of Environmental Systems Engineering, University of Regina, Canada

More in Management Decision Making

Thinking, Fast and Slow - Daniel Kahneman

RRP $26.99

$20.25

25%
OFF
On the Edge : The Art of Risking Everything - Nate Silver

RRP $36.99

$33.25

10%
OFF
The Five Dysfunctions Of A Team : A Leadership Fable - Patrick M. Lencioni
Principles : Life and Work - Ray Dalio

RRP $55.00

$35.90

35%
OFF
Great Change : The WAY to Get Big Strategy Done - Adam Bennett
Outliers : The Story of Success - Malcolm Gladwell

RRP $24.99

$23.75

Lead and Disrupt : How to Solve the Innovator's Dilemma - Charles A. O'Reilly III
Managing Change Australasian Edition : Enquiry and Action - Nic Beech