Prediction Accuracy - A Measure of Simulation Reality
Abstract
Abstract: Nowadays, simulations are increasingly being used in many contexts, such as training and education in business and economics. The validity of the simulation outcomes is a key issue in simulations. Procedures and protocols for simulation model verification and validation are an ongoing field of academic study, research and development in simulations technology and practice. The present paper discusses the simulation models accuracy, how to measure and improve it in order to achieve better simulations results and provide more reliable insights and predictions about the real-life processes or systems. It presents results from international research done in Europe, Australia, and most recently in the United States.
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