Autumn 2006

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GoldSim News


Knowledge Base


Model Library


Modeler's Corner


Partner Spotlight


What's Cooking?



Interrupting a Simulation. Sometimes it is convenient to interrupt (and pause) a simulation when a particular condition occurs (e.g., X > Y). This can be useful both for debugging and also to pause a simulation so that user can dynamically interact with it. The new Interrupt element (available in Version 9.5) supports this. A user-defined message is displayed when the model is interrupted, and the user can choose to pause and explore the model, abort the simulation, or continue.



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).

If you have a model that you think would be worth posting to the library, please send it, along with text describing the model, to




Interesting Links:

Engineering Achievements: A list and discussion of the 20 greatest engineering achievements of the 20th century.

Probability Web: A collection of probability resources on the web. The pages are designed to be especially helpful to researchers, teachers, and practitioners.

Word of Mouth Marketing: Provides advice on how to turn your reputation and circle of contacts into additional business.



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 and science.

GoldSim News

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 listed below:

  • 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 transaction.

  • 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 later. Click here to receive an invitation to the new 9.50 elements webinar, and click here to to receive an invitation to the Financial Module webinar.

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.

Modeler's Corner

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 suggestions.

Partner Spotlight

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 years.

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.

What's Cooking?

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


© 2006 GoldSim Technology Group LLC.

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