Simulations for Business Strategy Analysis in Pharma & MedTech

Our Services:

Analyzing innovation is a tricky and complicated process, and building the simulation model is only the first step.

1) Model Development
a) Identify and Formulate the problem correctly
b) Map the real world to the world of models
c) Choose the abstraction level & modeling language
d) Capture the dynamics of the business system (e.g. Innovation diffusion – customer adoption, Competitor response)
e) Ensure only components important for solving the problem are represented in the model

2) Performance Metrics (used by stakeholders to evaluate strategic decisions – finance-based and others)
a) Decide what performance measures will be analyzed in the simulation model
b) Data sourcing on system specifications, input variables and the performance of the existing system. Use statistics to measure an organization’s behavior, activities, and performance

3) Visualizations
a) Use visualizations for model verification (Ensure that the model behaves as intended)
i) Input real data to the model and compare the results with historic data
b) Choose between strategic alternatives (using good data representations)
c) Enable users visualize items and processes in their models (e.g. vehicles, staff, equipment, buildings, teams, resources)
d) Make an exact digital twin of the model

4) Scenario Analysis
a) Use the model to test thousands of strategy variations and scenarios that capture uncertainty
b) Discover how randomness and parameter change can affect model’s behavior (Using Monte Carlo, Sensitivity Analysis, Parameter Variation experiments)