Ebook Managing Business Complexity: Discovering Strategic Solutions with Agent-Based Modeling and Simulation, by Michael J. North, Charles M. Ma
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Managing Business Complexity: Discovering Strategic Solutions with Agent-Based Modeling and Simulation, by Michael J. North, Charles M. Ma
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Agent-based modeling and simulation (ABMS), a way to simulate a large number of choices by individual actors, is one of the most exciting practical developments in business modeling since the invention of relational databases. It represents a new way to understand data and generate information that has never been available before--a way for businesses to view the future and to understand and anticipate the likely effects of their decisions on their markets and industries. It thus promises to have far-reaching effects on the way that businesses in many areas use computers to support practical decision-making.
Managing Business Complexity is the first complete business-oriented agent-based modeling and simulation resource. It has three purposes: first, to teach readers how to think about ABMS, that is, about agents and their interactions; second, to teach readers how to explain the features and advantages of ABMS to other people and third, to teach readers how to actually implement ABMS by building agent-based simulations. It is intended to be a complete ABMS resource, accessible to readers who haven't had any previous experience in building agent-based simulations, or any other kinds of models, for that matter. It is also a collection of ABMS business applications resources, all assembled in one place for the first time. In short, Managing Business Complexity addresses who needs ABMS and why, where and when ABMS can be applied to the everyday business problems that surround us, and how specifically to build these powerful agent-based models.
- Sales Rank: #1378508 in eBooks
- Published on: 2007-03-01
- Released on: 2007-03-01
- Format: Kindle eBook
Review
"Managing Business Complexity is a thorough, practical, and easy-to-understand guide to effective agent-based modeling and simulation. It's a must read for anyone considering applications of agent-based modeling for solving real-world problems."--Vincent P. Roske, Jr., Former Deputy Director for Wargaming, Simulation, and Analysis, U.S. Department of Defense Joint Staff Force Structure, Resources, and Assessment Directorate
About the Author
Michael J. North, MBA, Ph.D., is the Deputy Director of the Center for Complex Adaptive Agent Systems Simulation within the Decision and Information Sciences Division of Argonne and the University of Chicago.
Charles M. Macal, Ph.D., P.E., is the Director of the Center for Complex Adaptive Agent Systems Simulation within the Decision and Information Sciences Division of Argonne National Laboratory
Most helpful customer reviews
4 of 4 people found the following review helpful.
Basic work for modeling and optimization
By Michael A. Zanin
Don't let the tongue-twisting title put you off.
The field of optimization/simulation is now quite large and complex with many commercial and public domain solutions out there.
The author does an amazing job of sorting through the alternatives from Excel spreadsheet to simplex optimization to discrete, continuous, and agent-based simulations in slightly over 300 pages.
If you haven't invested in learning/buying a solution package you need to read this book first to understand your options.
While the author is one of the original pioneers of agent-based simulation he gives more than fair discussion of the benefits and liabilities of all the topics covered.
His extensive discussion of the capabilities of the humble Excel program as a basis for small scale simulation is a tour de force all by itself.
13 of 14 people found the following review helpful.
Great start to bridge insights from complexity science into business applications
By I. J. Galea
'Managing Business Complexity' is a great start at bridging the significant academic work in complexity science over recent years to business applications. It provides an introduction to agent-based simulations and an overview of the characteristics and advantages of agents, and walks the reader through two illustrative examples. Such examples are especially helpful to readers with little or no previous experience using agent-based models.
Applications of complexity science to business are still in their infancy. As such, the discussion in the book leans towards the academic, and more pointedly towards programmers rather than business practitioners with scant scientific background. Future editions of this book might benefit from including further business applications, and including the impact to bottom line.
This book is highly recommended as an overview of this exciting subject and its applicability to business situations.
4 of 5 people found the following review helpful.
Excellent work on Agent-Based Simulation Modelling
By Dimitris
I am a PhD student doing research on
Mulit-Agent Systems with Bath University in the UK and recently
purchased the book. I believe that it is a very good effort and so far it has proved much more
useful to me than most books and papers that I read on the subject. The practical experience of the authors with agents is very useful and definitely helped me
understand a lot more on the subject. Recently colleagues at work who used lots of different simulation techniques over their careers had a quick look and ordered already copies as they believe this is an excellent study of a relatively new field which could bring new opportunities to our business.
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