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Replay: The value of business simulation (Part 2)

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In the previous installment, we looked at and discussed strategies for business simulation and the infrastructure needed to make such initiatives successful.  Now, we’re ready to discuss some practical examples of business simulation.  Imagine a mail order company selling products together with the necessary financing. Assume they’re considering replacing one of their credit risk models while at the same time trying to boost sales of a certain widget. Let’s further assume that their overall decision strategy to determine the best product to offer to a customer may be overruled in circumstances where the risk model determines that additional selling is not desirable because the underlying loan is too likely to default.

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