Tutorial: Risk Analysis and Monte Carlo Simulation
Uncertainty and risk are issues that virtually every business analyst must deal with, sooner or later. The consequences of not properly estimating and dealing with risk can be devastating. There’s a positive side to uncertainty and risk, as well: Almost every business venture involves some degree of risk-taking. Properly estimating, and planning for the upside is just as important as doing so for the downside.
Read this tutorial to learn how Monte Carlo simulation can become a frequently-used tool in every business analyst’s toolkit. It can help:
- Access risks
- Avoid business failure
- Determine upside business opportunities