Simulation, the Future of Innovation

“In effect, we’re increasingly moving towards a simulation economy, where strategic analysis gives way to reconstructing phenomena from real world data, testing hypotheses and learning”.

“What’s important here is that executives will no longer have to “bet it all on a big idea”…but can test countless “what if” scenarios before taking the plunge.  The result will be not only better efficiency, but undoubtedly greater creativity as well.

Icosytem, a firm based in Cambridge, Massachusetts is going beyond physical objects and helping organizations design processes as well, using a technique called agent based modeling. For example, they helped Pepsi understand how to better position its products by modeling how consumers move through a supermarket.

As Paolo Gaudiano, President of Icosystem notes, “ten years ago maybe one in twenty prospective clients had heard about agent-based simulation. Today it’s about one in five. Ten years from now you’ll be able to buy shrink-wrapped agent-based simulation software at Staples.”

That’s why the future of innovation is simulation.  Whereas before, we might sit amongst ourselves and decide how the world might work and test our ideas in the market,

now we can test them in a virtual environment built by real world data at much lower levels of cost and risk”.

via Innovation Excellence | Why Simulation is the Future of Innovation.

Focused on TBM, Technology Business Management ("run IT like a business"). - 30+ years of experience, in providing IT strategy, process, application, RAMP, hardware, software, network, internet and cloud solutions to financial services, MRD and high technology companies from startup to F500. - 20+ published articles on the intersection of business and technology. - Startup advisor and mentor to a dozen startups, four of which were acquired and one of which is newly-launched (ITconnecter, a Crosswaves Ventures LLC company). - Specialties: IT Technology Business Management (TBM, aka "run IT like a business"), strategic partnerships, technology innovation, solutioning and program/project management (onshore, nearshore, offshore). Technology consulting focused on innovation, built around process, data and integration (cloud, social networking). We use I/TBM financial management best practices to help mid-size and large enterprises ensure they are meeting the needs of their business effectively and efficiently.

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