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Why Model?

Why Model?. By the way …. A model is a representation, abstraction, or a simulation of a phenomenon that we are trying to understand. Why Model?. Necessity To Make Better Decisions Gain Better Insight Aid to Presentations / Communication Support Intuition. Why is modeling a necessity?.

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Why Model?

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  1. Why Model? By the way …. A model is a representation, abstraction, or a simulation of a phenomenon that we are trying to understand.

  2. Why Model? • Necessity • To Make Better Decisions • Gain Better Insight • Aid to Presentations / Communication • Support Intuition

  3. Why is modeling a necessity? • Limitations of the human mind (can process only a few issues). • Difficult to keep track of several variables at a time. • Modeling is a small effort compared to the magnitude of the outcome. • Need to generate values of outcome to be able to evaluate various choices (decisions).

  4. Can models help make better decisions? • Many relevant facts accounted for .. • Impact of each variable (on outcome) can be measured. • Many relationships among variables can be made explicit. • Can look into longer time frames (planning) • Can perform sensitivity and goal-seeking analyses.

  5. Can models improve insight into phenomenon? • Complexity seems manageable. • Learn structure of the phenomenon / situation. • Understand the anatomy of the problem. • Extend understanding to other similar domains. • Improves confidence.

  6. Aid to presentations / communication • Beliefs about relationships made explicit. • Means to test assumptions / beliefs. • Demonstrate more comprehensive understanding. • Lead more structured discussions, be able to address specifics in the context of the “big picture” • As a basis to determine newer needs ...

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