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Monte Carlo Simulation - Search of Pi Number
Mercanza SLU
Qlik Sense application that attempts to derive the approximate value of the PI number based on iterations of the algorithm based on the Monte Carlo method
Discoveries
We have performed 10,000 iterations and have derived an approximate value of the PI number of 3.10, very close to the true value of 3.1415 with 98.71% accuracy.
Impact
This application has served to validate in an illustrative way that the Monte Carlo method is valid to deduce probable values of high-value output for any company.
Audience
Any person in the field of business decision or data analyst
Data and advanced analytics
This application has been created with a simple algorithm whose output is a final average value and a histogram to deduce the average range of most probable results, which can be very useful for making business decisions.