Whois & Analysis for palisade.com

Monte Carlo methods (or Monte Carlo experiments) are a broad class of computational algorithms that rely on repeated random sampling to obtain numerical results.

Their essential idea is using randomness to solve problems that might be deterministic in principle.

They are often used in physical and mathematical problems and are most useful when it is difficult or impossible to use other approaches.

Monte Carlo methods are mainly used in three distinct problem classes: optimization, numerical integration, and generating draws from a probability distribution.

A palisade—sometimes called a stakewall or a paling—is typically a fence or wall made from wooden stakes or tree trunks and used as a defensive structure or enclosure.

Decision analysis (DA) is the discipline comprising the philosophy, theory, methodology, and professional practice necessary to address important decisions in a formal manner.

Decision analysis includes many procedures, methods, and tools for identifying, clearly representing, and formally assessing important aspects of a decision, for prescribing a recommended course of action by applying the maximum expected utility action axiom to a well-formed representation of the decision, and for translating the formal representation of a decision and its corresponding recommendation into insight for the decision maker and other stakeholders.

Simulation software is based on the process of modeling a real phenomenon with a set of mathematical formulas.

It is, essentially, a program that allows the user to observe an operation through simulation without actually performing that operation.

Simulation software is used widely to design equipment so that the final product will be as close to design specs as possible without expensive in process modification.

Simulation software with real-time response is often used in gaming, but it also has important industrial applications.

When the penalty for improper operation is costly, such as airplane pilots, nuclear power plant operators, or chemical plant operators, a mock up of the actual control panel is connected to a real-time simulation of the physical response, giving valuable training experience without fear of a disastrous outcome.