This technique of running many simulations is known as the Monte Carlo method, a category of modelling techniques that has and is gaining currency in many different areas, particularly with increases in computational capability.
In highly competitive industries, improved understanding of the financial exposure risk profile from being associated with contaminated products in the market is increasingly important. By using data organised in structured data sets and through the application of science-based mathematical models, Creme Global quantifies detailed risk profiles that can simplify risk management decisions and mitigate financial risk.
For anyone working in a scientific discipline, staying up to date with the latest research is a part and parcel of the job. However, with the huge deluge of research being churned out, this isn’t such an easy task.