What is Monte Carlo Simulation?

Monte Carlo Simulation, also known as the Monte Carlo Method or a multiple probability simulation, is a mathematical technique, which is used to estimate the possible outcomes of an uncertain event. Watch master inventor Martin Keen explain how Monte Carlo Simulation may be your closest thing to a time machine - or more simply - how it may be a way to look into the future for making business decisions.

#AI #Software #ITModernization #MonteCarloSimulation #lightboard #IBM

[aliampolizzi]

So there's much more to this man than beer, interesting.

[dpalgo]

Great content! Also this is the first time I have seen someone writing in reversal in front of a screen, which is amazing!

[edbrook]

'Master Inventor' has to be the coolest job title ever

[-AkhilTej-]

🎯💎🏆 Great insightful & fruitful video 🏆💎🎯

लोकः समस्ताः सुखिनो भवन्तु
( May all beings lead prosperous life across Globe 🌍 )

[ValFolarin]

You should have used the dice example to example the three items of interest at the end

[xodls]

you saved thank you so much!!! I was searching the whole internet to prepare for my school project about this... This helped me the most

[rahulradhakrishnan]

If I remember correctly, this simulation was used in the AlphaGo program back in 2016.

[jasperb]

Hey isnt this the guy who brews beer?? This is Martin from The Homebrew Challenge!

[CMF]

This guy is a pro at writing backwards legibly.

[raychard]

Lol love the interactiveness you had with the video. I just want to know how the hell did you write backwards?! That's crazy impressive haha

[dennis_doom]

Great video. I'm wondering if this can be applied to time series forecasting based on historical data. For example forecast the demand of a product based on the price, number of units sold in a specific month etc. ¿Does anyone knows?

[spyhunter]

We use it in nuclear physics in particle collisions. You can use it in math to estimate integrals, and so on.

[RonanRiyanaTwins]

Can you please provide use case of a MC simulation for risk management of a Construction Capital Project?

[bourne]

So that’s how they predict the weather !

[antwanwimberly]

Neumont College of Computer Science checkin in

[AleemAhmed]

Wonderfully Explained. Looking for more great content from your side.

[ramkyadi]

Thats a nice & crisp way of explaining to the point, thanks. But i was searching for a simulation, where it should optimize & estimate the better Sequence of different model mix Feed in a manufacturing line (single piece flow) but each model has different Process completion Cycle times from Feed to Final stage. It would be great help, if you can suggest a better way of handling this problem ?!

[hazem]

Very simple and straightforward explanation but would have been better had you provided a real life example

[HauerPower]

Could Monte carlo simulation be used to predict fatigue life of parts based upon historical data?

[jaylee]

This guy just casually writing backwards on a piece of glass