Simulation Optimization: A Review, New Developments and Applications

Download our report to learn about the power and problem-solving capabilities of simulation optimization.

Best-in-Class Problem Solving Techniques

Advances in computing power and memory in recent years have increased the possibilities for optimizing simulation models. This phenomenon, and corresponding algorithmic and theoretical developments, offers one of the most exciting opportunities in simulation, paving the way for new and more powerful approaches for complex problem solving.

In this paper, we first provide a general overview of the primary approaches to simulation optimization found in the research literature. We then survey commercially available software in this space. We conclude with detailing several examples and real-world applications utilizing simulation optimization tools and techniques.

Simply complete the form at the top to download our 14-page white paper.

More Optimization White Papers

Tabu Search

Tabu Search, also called Adaptive Memory Programming, is a method for solving challenging optimization problems in the fields of business, engineering, economics and science. Everyday examples include practical applications in resource management, financial and investment planning, healthcare systems, energy and environmental policy, pattern classification, biotechnology and a host of other areas. Tabu search has emerged as one of the leading technologies for handling real-world problems that have proved difficult or impossible to solve with classical procedures.

Optimizing AI/ML Hyperparameters with SimWrapper and OptQuest

Download our report to see how SimWrapper and OptQuest can be used to optimally tune hyperparameters for your AI/ML models.