Blog archive

Popular tags

Beyond Market Mix Models 28.02.2017 Rene Reiter

Traditional Marketing Mix models attempt to explore the tradeoffs amongst different marketing channels and the spends associated with them. The weaknesses of these models are, generally, their static nature and the restrictive assumptions required to apply their results. For these reasons, an American pharmaceutical company, one of the largest in the world, engaged with Sterling Simulation to explore the benefits of agent-based modeling, prior to launching a new product. The use-case was presented by Scott Hebert, Vice President of Sterling Simulation at the AnyLogic Conference 2015.[...]

Simulation Modelers Vote for AnyLogic as the Best Simulation Software 29.12.2016 Rene Reiter

Today, more than a quarter of simulation professionals worldwide choose AnyLogic as the best simulation software tool for business applications, according to the market share analysis we recently conducted. There is no official research on the size of the market and the market shares of simulation tools, and software companies’ revenue numbers are not public. Nevertheless, we can use indirect data to make estimations. [...]

Beyond Marketing-Mix Models 28.10.2016 Rene Reiter

A multi-national pharmaceutical company recently launched a new non-generic drug. Since the company already owned the leading non-generic drug in that market, cannibalization was a concern. The goal was to create market share for the new drug, while maintaining or increasing market share for the well-established drug by modifying types of promotional spend. Traditionally, the Analytics Department would employ a Marketing-Mix Model (MMM) to determine the impact of promotional spend, but the company was looking for further insight into the mechanics behind the MMM. After exploring multiple options, they determined agent-based modeling, and ultimately AnyLogic would allow for the greatest flexibility and visualization.