Welcome to the Autumn
2006 Issue of the 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
Version 9.50 (with Financial Module) Released
Version 9.50 is a major upgrade that has been under development
for over a year. This version provides a large number of significant
new features (including 10 new elements), and we are confident
that everyone will find something of value.
The most significant changes included in Version 9.50 are
A new Splitter element has been added. These elements
split an incoming signal according to some specified fractions
or amounts. Typically, the signal will be a flow of material
(e.g., water), but it could also be a resource, or a discrete
A new Allocator element has been added. Allocator
elements subdivide and allocate an incoming signal according
to a specified set of demands and priorities. Typically,
the signal will be a flow of material (e.g., water), but
it could also be a resource, or a discrete transaction.
A new History Generator element has been added.
History Generators allow users to easily generate stochastic
time histories, and should be useful for simulating financial
and economic variables (e.g., security prices, interest
rates), as well as stochastic variables in other arenas
(e.g., demands for resources such as water).
A new Interrupt element has been added. The Interrupt
element is triggered by an event, and responds by interrupting
the simulation. The triggering event can be a discrete
event signal or another type of event (e.g., a condition,
such as X becoming greater than Y).
A new element has been added (called a SubModel)
that allows you to embed one model within another model.
This powerful feature facilitates a number of advanced
modeling applications, including two-dimensional Monte
Carlo analysis and probabilistic optimization.
An entire new module has been added to GoldSim: the Financial
Module. The Financial Module provides five types of
financial elements to support simulation of financial
systems or financial aspects of engineering systems. It
allows you to probabilistically simulate components such
as accounts and funds, investments, options, projects
or undertakings with specified cash flows, and insurance
policies. The Financial Module is provided (at no charge)
with all versions of GoldSim.
A short summary of the new features can be found here.
All current members of the GoldSim Subscription Program can download Version 9.50 now from
the GoldSim Resource Center (GRC). 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 (simply press the "Use Existing License"
button when GoldSim prompts you to register).
Free GoldSim Webinars Will Discuss New Features
The GoldSim Technology Group will host two webinars, one
describing the new 9.50 elements and features on November
1, 2006 at 0830AM Pacific Standard Time (GMT - 0800), and
a second one that discusses the new Financial Module elements
on November 2, 2006 at 0830AM Pacific Standard Time. These
one-hour webinars will describe the new elements and demonstrate
applications. Webinars are an easy way to jump start your
knowledge for these new features so you can quickly begin
employing them in your own models. Note that these webinars
will be recorded and posted to our website, so that if you
can't make these dates, you can always view them at your leisure
here to receive an invitation to the new 9.50 elements
webinar, and click
here to to receive an invitation to the Financial Module
New GoldSim Online User Forum
Based on feedback we have received from users, many of you
would like the opportunity to communicate with other GoldSim
modelers around the world. As a result, we are in the process
of creating an online GoldSim user forum to provide a mechanism
to foster information exchange, education, and best practices
among GoldSim modelers. Click
here to receive additional information on GoldSim's upcoming
online user forum.
Tips for Modeling Multiple Scenarios or Alternatives
Many GoldSim models are intended to compare various alternatives
or options, or to run multiple scenarios for a particular
system. What is the best way to model multiple scenarios or
options in a GoldSim model? This short article provides some
Interview with John Tauxe of Neptune and Company
Neptune and Company is an environmental consulting company
that specializes in environmental statistics and decision
analysis, probabilistic modeling, environmental fate and transport
modeling, and human health and ecological risk assessment.
Neptune engineers and scientists have been applying GoldSim
to help solve complex environmental problems for over six
John Tauxe, a Senior Environmental Engineer at Neptune, is
one of the most experienced GoldSim modelers around. He is
particularly well known within the GoldSim user community
for producing very well-documented and easy to understand
models, and he regularly demonstrates these models and shares
his expertise at our user conferences. John has an M.S. and
Ph.D. in Civil Engineering from the University of Texas, and
a B.S. in Earth Sciences from Wesleyan University. John took
some time to chat with us about GoldSim, modeling and consulting.
Beyond Version 9.5
The ink has not even dried on Version 9.5, and we are already
hard at work on our next release. Here are two of the things
that we are working on for our next version (code named Hood).
Dashboard Redesign. An increasing number of our
users rely on models with Dashboards (control panels that
allow others to easily edit and run your models). In response
to this, we are currently planning a complete redesign of
our Dashboard Module to incorporate user requests and add
a number of powerful new features.
GoldSim Components (User-Defined Elements). This
feature will allow users to create a complex model in a
Container, and then "encapsulate" the Container
by converting it into a "component". Encapsulation
involves locking the Container so that no one can look inside
at all (without a password), and building a custom user-interface
for the Container (listing inputs and outputs). An encapsulated
Container will effectively be a custom element that can
be reused and distributed.
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 firstname.lastname@example.org.
© 2006 GoldSim Technology Group LLC.
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