When it comes to using data to personalize medicine, Google and a UK hospital group’s partnership to build a personalized healthcare app – using 1.6 million health records – is really just the tip of ...

Advisors and websites often show clients the results of large numbers of Monte Carlo simulations. It is hoped that clients will be calmed by pursuing avenues predicted to have a 90% chance of success.

You can’t predict the future, of course, but that doesn’t stop some financial professionals from trying. Of the many methods devised to anticipate different possible futures in financial planning, ...

I am looking to estimate the potential for failure in a complex system using Monte Carlo simulation. I am quite familiar with using MC for engineering simulations, but have never approached the ...

The Monte Carlo method is an alternate way to model drug sales estimates. Using my earlier method, I came up with an annual revenue estimate of $100 million for BAY 43-9006 in the treatment of renal ...

We offer the scientific, government, business, and policy communities a simulation tool to predict and monitor the effects of the changing dynamics of coronavirus disease 2019 select COVID-19) on the ...

Numbers are rather useful. This is unfortunate, because they're also rather confusing. Our brains have a hard time making sense of lists of numbers, so we employ an imaginary friend to help us — the ...

Bob’s financial advisor just ran a “Monte Carlo analysis” for him.What’s a “Monte Carlo analysis”?It’s a tool used to test how a person’s retirement savings and plan would hold up given a variety of ...

I use Monte Carlo simulations to find the range of likely outcomes for sample investment portfolios, using several distinct withdrawal rules. I emphasize that planning to change plans if needed ...