July 2013


GoldSim's mission is to help you make better decisions in an uncertain world by providing state-of-the-art software, training, and prompt support. Our GoldSim simulation software package provides the power, flexibility, and usability to efficiently simulate and understand the future behavior of complex systems in business, engineering, and science.

Since this newsletter is for you, we encourage you to share your comments and contributions with us. Please email your thoughts to support@goldsim.com.

GoldSim 11 Now Available for Download!

We have been working very hard for almost two years on GoldSim 11, and it's now available. GoldSim 11 represents our biggest update in many years, and has a large number of enhancements, ranging from minor cosmetic improvements to fundamental changes in GoldSim's basic architecture. An overview of new features can be found here.

All users with current Subscriptions can download the GoldSim 11 installation file from the Download section of our website. If you don't know if your Subscription is up to date, or want to learn about updating your Subscription, contact us.

Note that in addition to an updated Help system to describe all the new features, updated user manuals are installed with the software (in PDF format). Bound manuals can also be ordered directly from Amazon.com (and this is likely to be less expensive than printing and binding them yourself).

Upcoming Webinars

We will hold a "GoldSim 11 Overview" webinar (on three different dates) to introduce some of the major enhancements included in GoldSim 11. After these, we will hold two additional webinars to focus on more of the details of several new GoldSim 11 features:

* July 25th GoldSim 11 Overview
* August 1st GoldSim 11 Overview
* August 8th GoldSim 11 Overview
* September 5th Timestepping Options in GoldSim 11
* September 26th Modeling Scenarios in GoldSim 11

You can sign up for these webinars here.

GoldSim Training Session in Seattle August 26-28, 2013

We have scheduled a training session in Seattle (great place to visit in the summer!) August 26-28, 2013. This workshop will be of value to new users, and also serve as an excellent refresher course (and introduction to new features in GoldSim 11) for existing users. You can sign up now for this workshop here.

Where Would You Like to Attend a Training Session?

We need your input to help schedule additional training sessions. If you're interested in attending a session, please take a moment to complete this online poll. These sessions will likely be held in late 2013 and early 2014.

Featured GoldSim Application

Forecasting Electricity Demand from Iron Ore Mines
Grant Coble-Neal (grant.cobleneal@westernpower.com.au), Western Power

GoldSim was used to forecast electricity demand from new iron ore mines in the Mid West region of Western Australia. An accurate forecast was required to estimate the size of new demand to assist in demonstrating the need for a new 330 kV transmission line. Traditionally regulation requires the cost analysis be conducted using the standard NPV method; however, given the volatility in global commodities markets this approach was regarded as insufficient for the task. This article discusses the incremental revenue model developed in GoldSim that employed Real Option Analysis and allowed financial analysts to assess the risk inherent in their judgments in a systematic manner.

Read Article