Businesses face a difficult problem in allocating scarce resources under conditions of uncertainty. Far too often in practice, optimization models are built assuming, implicitly, that the data or parameters of the model are known exactly – which is hardly ever true. How can you avoid this pitfall?
Read this tutorial to learn how you can create a better model for resource allocation in real-world business situations. Using a call center staffing example illustrated with Excel spreadsheet samples, this tutorial explains how simulation and optimization can help in: