Discuss how it enables one to solve real-life problems safely and efficiently, practice risk-analysis and decision-making, evaluate and understand statistics to improve a business, access quantifiable and measurable training etc.

Importance of Simulations in Business

Write 500 words explaining the importance of simulations in business. Discuss how it enables one to solve real-life problems safely and efficiently, practice risk-analysis and decision-making, evaluate and understand statistics to improve a business, access quantifiable and measurable training etc. Feel free to answer this question using your own interpretation and perspective.