Spring 2006

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Featured Application

 

Modeler's Corner

 

GoldSim News

 

Tips and Tricks

 

Knowledge Base

 

Model Library

 

Intesting Links

 

 

Instantaneously Resetting the Value of a Reservoir. In some cases, it is useful to reset a Reservoir (e.g., to zero) when a particular event or condition occurs. The latest version of GoldSim makes this easy to do. The Discrete Addition input field accepts Discrete Changes with a Replace instruction (previously, this field only accepted Add instructions).

 

 

 

The GoldSim Knowledge Base contains articles addressing frequently asked questions, workarounds for known problems, and advice on applying GoldSim. The Knowledge Base is available from within the GoldSim Resource Center (GRC).

We encourage you to visit the Knowledge Base, as even expert users are likely to find useful information there.

 

 

The GoldSim Model Library allows GoldSim users to build on the experience and knowledge of others by sharing models. The Library is available from within the GoldSim Resource Center (GRC).

New models that have recently been added include:

Model 49 - A simulation of two different aspects of the classic Risk board game

Model 50 - Allowing DD/MM/YYYY Input in Dashboards.

If you have a model that you think would be worthwhile to post to the library, please send it, along with text describing the model, to support@goldsim.com.

 


 

Interesting Links:

Brainy Quote: A source of quips and quotes for the thinking person.

Efunda:
An extensive resource of mathematical and engineering formulas, unit conversions, specialty calculators, and plotters.

Engineering Humor:
Engineers are not exactly known for their humor. Here's a source of inoffensive jokes that only your colleagues will chuckle at.

 

 

Spring 2006 GoldSim Newsletter

The mission of the GoldSim Technology Group is to provide state-of-the-art software, training and expert consulting to help you understand complex systems and make better decisions in an uncertain world. Our GoldSim simulation software package provides the power, flexibility and usability necessary to efficiently simulate and understand the future behavior of complex systems in business, engineering and science.

The purpose of the GoldSim Newsletter is to provide information that helps you get the most out of GoldSim. Like you, we don't like getting lots of unnecessary email in our Inbox, so we only send out our newsletter if we have something useful to communicate. This issue of the newsletter includes an article describing an interesting GoldSim application associated with financial planning, as well as the first installment of a new section (Modeler's Corner) in which expert users share their tips and advice. The GoldSim News section announces a new minor release of GoldSim, describes the upcoming summer release, and provides a final reminder about the User Conference.

Note that each Newsletter is archived on our website so you can view prior issues.

Since this newsletter is for you, we encourage you to send us your comments and contributions. Send your contributions to support@goldsim.com.

The GoldSim Technology Group

Featured GoldSim Application

Spending Your Kid's Inheritance: How to Maximize Your Retirement Portfolio Returns While Minimizing Risk

Creating a retirement withdrawal scheduled model based upon simulating both portfolio performance and remaining life expectancy, coupled with periodic adjustments, produces significant improved returns and substantially decreases risk of portfolio ruin, when compared to traditional fixed rate withdrawal methods over defined time horizons. This article by Gene Stout and John Mitchell of Central Michigan University discusses an advanced retirement planning system using GoldSim to create the most wealth for your golden years.

Modeler's Corner

Tips for Debugging a GoldSim Model

All of us at some point have built a GoldSim model, run it, and found that the results don't seem to make any sense. Typically, this indicates that we've got a logical problem in the model. So how do you go about debugging such a model? This short article provides some suggestions.

GoldSim News

Version 9.21 of GoldSim Released

Version 9.21 is a minor upgrade that provides a number of enhancements (particularly to how time histories can be viewed and exported), along with some bug fixes. Although none of these updates and bug fixes are critical, it is recommended that all active users upgrade to the latest version. For users with active subscriptions, upgrading is as simple as downloading the install file, and installing the software. It is not necessary to re-register your license.

All current members of the GoldSim Subscription Program can download Version 9.21 from the GoldSim Resource Center (GRC).

Beyond Version 9.21

Here are some of the things that we are working on for our next version (code named Glacier), which we will release in summer 2006:

  • Stochastic Optimization. The Optimization capability introduced in Version 9 will be enhanced to allow you to optimize uncertain systems. It's going to take some time to run these analyses, but you will be able to address problems such as "Adjust my pricing scheme so as to maximize my expected revenues, while having no more than a 10% chance of going broke."

  • Router element. This new element will allow you to route an incoming flow to multiple demands, based on specified priorities. This element is likely to be particularly useful for those of you simulating water resource and material handling systems.

  • Two-dimensional Monte Carlo. We're adding a capability for you to embed one GoldSim model inside another. This should be particularly useful for cases where you need to separate the effects of uncertainty from randomness/variability. You will be able to have an outer Monte Carlo model that samples the uncertain parameters, and an inner model that simulates system realization subject to random effects.

  • Interrupt Element. This new element will allow you to specify a condition that will cause the simulation to pause (or completely stop) and produce a user-defined message to be displayed.

As always, we encourage our users to send their requests and suggestions for improvements to GoldSim. If you have a specific request, please contact us at support@goldsim.com.

GoldSim User Conference to be Held in Vancouver, British Columbia, June 6-7, 2006

It is not too late to register for the 2006 GoldSim User Conference. The conference will be held in Vancouver, British Columbia, Canada on Tuesday and Wednesday, June 6-7, 2006. Prior to the conference, we will offer a complimentary one-day Basic GoldSim training and refresher course on June 5, 2006.

We are excited about this year's conference, which will be a terrific forum for you to share experiences with other users and the GoldSim developers, and to provide input for the future development of GoldSim.

The agenda for the two-day conference includes workshops and seminars to improve your GoldSim skills, presentation of a number of invited papers from our most experienced and knowledgeable users on topics of general interest, a poster session so you can see how other users are applying GoldSim, a model contest so you can show off your GoldSim skills (an win an Apple iPod!), and several breakout sessions so users with common interests can share ideas.

As always, we have scheduled several social events in the evenings so you can enjoy the sights of one of the world's most beautiful cities while networking with fellow GoldSim users, including shopping and dinner on Granville Island, and an evening dinner cruise.

 

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