The Poisson Pill – Just what if we can go beyond the "What ifs"?

This blog discusses the applications of Monte-Carlo simulation methods by modeling real-world situations, explaining those using well known and often researched statistical distributions such as the Poisson distribution and then applying optimization models to solve a variety of business problems thus enabling managers to take decisions by moving beyond the usual methods and what-if scenario analysis. Very often business managers are faced with dealing with uncertainty in the real world, while they already know the decisions they need to make, provided such situations were a certainly. Such situations are a plenty – For instance: How many agents do we need in a call center? How much should I stock a particular product? How many doctors do we need in a hospital?