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This post addresses the GSD&M's Virtual Crowd Uses Analytics

Review the GSD&M's Virtual Crowd Uses Analyticscase studies (see attached) then respond to the questions below.

1. What is the benefit to GSD&M and their clients of using a simulation to predict customer behavior?
2. What other scenarios can you think of that might benefit from this type of simulation?
3. Describe the culture necessary to support GSD&M's use of simulation as a means of experimenting with marketing scenarios.

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Let's talk about each of your questions.

1. We need the benefits of a simulation, and in this particular simulation, the benefits have been that it has predicted what actually happens with a 95% rate of accuracy - that's pretty impressive! This is a simulation of what would happen before the company implements the strategy. The main objective is to save money on the strategy before it's actually implemented, because if the simulation produces results that are what we would not want to happen, the company saves themselves from a potentially devastating loss. It's an excellent concept - it's the same as being able to take a test and see how you score before you take the actual test. If you score low on the first test, you know that you'll need to refine those areas before taking the second test, ...

Solution Summary

This solution addresses the following questions regarding the case study:

1. What is the benefit to GSD&M and their clients of using a simulation to predict customer behavior?
2. What other scenarios can you think of that might benefit from this type of simulation?
3. Describe the culture necessary to support GSD&M's use of simulation as a means of experimenting with marketing scenarios.

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