What Is a Monte Carlo Simulation?

Monte Carlo Simulation

A Monte Carlo Simulation provides multiple possible outcomes and the probability of each from a large pool of random data samples.

This simulation offers a clearer picture than a deterministic forecast.

For instance, forecasting financial risks requires analyzing dozens or hundreds of risk factors.

Related resources

Keen's "2024 Performance Insights & Strategic Investment Guide," open to Chapter Seven, "Media Channel Performance," discusses where marketers should reallocate their budgets for improved ROI.
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