Modelling Simulation and Optimisation
With a blueprint in place significant value chain understanding can be gained through simulation analysis. Simulation is a superior method for understanding systems in changing circumstances.Typical mining issues investigated include:
- Quantity of equipment (mills, transporters, etc.)
- Operational procedures (production alternatives, setups, etc.)
- Production mix (detailed production planning)
- Consumption of buffer material
- Scheduled and corrective maintenance
Outputs:
- Dynamic visualisation of the production
- “Bottleneck” identification
- Rationalisation of resources and equipment
- Identification of the stock profile
- Investments analysis
- Productivity raises
- Reduced production costs
Gartner's definition of Advanced Analytics: "Optimization and simulation using analytical tools and models to maximize business process and decision effectiveness by examining alternative outcomes and scenarios, before, during and after process implementation and execution. This is to provide simulation, prediction, optimization and other analytics, not simply information, to empower even more decision flexibility at the time and place of every business process action. It means looking into the future, predicting what can or will happen."
“Companies should factor the top 10 technologies into their strategic planning process by asking key questions and making deliberate decisions about them during the next two years.” David Cearley, vice president and distinguished analyst at Gartner.