What-if Simulation (Brief Overview)
A What-if Simulation is a decision-making tool that analyzes possible outcomes based on different scenarios. It helps businesses predict how changes in key variables (e.g., pricing, marketing budget, demand) impact performance metrics like revenue or customer engagement.
Key Benefits:
- Scenario Analysis: Tests different conditions to assess potential outcomes.
- Risk Management: Identifies best-case, worst-case, and expected results.
- Data-Driven Decisions: Helps optimize strategies before implementation.
Use Cases:
- Marketing: Analyzing ad spend impact on conversions.
- Finance: Evaluating investment risks.
- Supply Chain: Assessing delays on product availability.