In this special guest feature, Vladimir Kuchkanov, Pricing Solution Architect at Competera, examines how data scientists often forget about classics while good old algorithms are still relevant and ...

The Monte Carlo simulation technique, named for the famous Monaco gambling resort, originated during World War II as a way to model potential outcomes from a random chain of events. It is particularly ...

I am looking to estimate the potential for failure in a complex system using Monte Carlo simulation. I am quite familiar with using MC for engineering simulations, but have never approached the ...

We have all made decisions, whether in our personal or professional lives, based on imperfect information. How can we manage that risk and improve business outcomes? One answer is a statistical method ...

Particle physicists are building innovative machine-learning algorithms to enhance Monte Carlo simulations with the power of AI. Originally developed nearly a century ago by physicists studying ...

Monte Carlo variance reduction techniques have become indispensable in radiation transport simulations, where the challenge of obtaining statistically significant results in deep-penetration problems ...