A cost effective way to simulate environments for faster, risk-free learning

What is a simulation?
Simulations are interactive multimedia presentations modeled on real scenarios that allow users to participate and experience the situation without risk. For example, a company may want their executives to learn about deployment or investment of capital to give maximum returns. To have this learning in real life would be an expensive and risky proposition. A safer way would to create an investment scenario where the employee plays a role with virtual capital and can immediately see the results of his decisions. Simulations that incorporate a dynamic model allows experimentation with strategies without facing any risk.

If you are introducing concepts that need to be applied, simulations can be a great tool. We use simulations to reinforce "what if?" scenarios. They are most effective in demonstrating tasks or concepts requiring a large number of steps or procedures. Simulations allow us to apply
real-world scenarios in a controlled environment. This allows students to learn and make mistakes without fear of the outcome. Our goal is to prepare the student for the real world scenario.

Advantages of Simulations

• Simulations do away with risks and facing the results of poor decisions.
• They are economical because you literally do not need to 'pay' for your mistakes.
• The simulated environment being simpler than the real world, students can actually focus on what really matters in making good decisions rather than being sidetracked by other issues.
• Simulations pack years of experience and information in small time capsules, reducing a user's 'time to competency' considerably.
• Cause and effect, i.e. results of good or bad decisions are immediately perceived by students making learning more effective.
• Users are free to experiment in simulations while in experience based learning, people are understandably risk-averse.

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