"Help! My simulation is taking too long to run! How can I make it go faster?" I frequently talk with statistical programmers who claim that their "simulations are too slow" (by which they mean, "they take too long"). They suspect that their program is inefficient, but they aren't sure why.
I've been a fan of statistical simulation and other kinds of computer experimentation for many years. For me, simulation is a good way to understand how the world of statistics works, and to formulate and test conjectures. Last week, while investigating the efficiency of the power method for finding dominant
The April 2012 issue of ORMS Today contains a piece on "How analytics enhance the guest experience at Walt Disney World," by Pete Buczkowski and Hai Chu. While many of us are used to forecasting just one or two things (such as unit sales or revenue), Pete and Hai illustrate
