Digital simulations have become an important tool in the operations of many companies across multiple industries. The access to data and technical resources capable of processing large sums of information has unlocked countless opportunities. Some examples of affected industries include aerospace, automobile manufacturing, motor-sports racing, medicine, defense, and cyber-security. Findings that come from simulations can become competitive advantages and revenue windfalls.
What is it about simulations that make them so valuable? First let’s review the definition,
In simple terms a simulation is the process of understanding outcomes based on factors in a model.
Another way to think about this would be for you to imagine having to decide on a sandwich choice for an upcoming lunch party with friends. Let’s assume that you know your friends well enough to understand their food likes and dislikes. You also know what food options are available to you in constructing the sandwich. This information will serve as the factors in your model. The next step is when your brain runs through the possible options that would be most satisfactory for your lunch party. What your brain is doing is conducting a simulation.
We can all agree that the human brain is impressive but imagine the possibilities when the most advanced computers, storage systems, and processing software are put to task. The possibilities are expansive and steadily growing. The integration within our day to day lives is already real. When was the last time you flew on a plane? The pilot was trained via a flight simulator and don’t forget about the autopilot system. When was the last time you drove, drove-in, or saw a Tesla on the road? Auto pilot cruise control system.
Simulations have become integrated throughout the products and services we commonly use and that integration will only continue to accelerate. An example of this is an innovative career opportunity platform named TradeCraft. Simulations are utilized to replicate real companies across multiple industries. The simulations of these businesses is similar to those for flight simulators or training medical doctors; they are nearly identical to the real thing. The purpose is to provide an environment that is representative to reality and allow users to immerse themselves within these simulated companies and walk through actual work scenarios.
Users will be afforded the opportunity to learn, demonstrate, and hone their skills.
Users that are entering the workforce can establish experience critical to being hired.
Users that are seasoned employees can perform work functions outside of their current responsibilities affording them the opportunity to gain new knowledge and experience.
The goal of these simulated environments is to build a connection between job seekers and employers. The simulated environments serve as the learning, growing, and experience generator for job seekers and employers are able to access tangible evidence of a job seekers skills and qualifications.
At the moment TradeCraft simulations are primarily focused on careers in Data Science & Analytics but that is only short term. The tangential value driven by simulations is that even though a specific career field is targeted the supporting skills and concepts are valuable across most job types. As an analyst it’s important to understand data types, storage systems, coding languages, mathematics & statistics, data visualization, testing & experimentation, and story telling but, there are also countless soft skills that must be considered. Analyst must understand the overarching model of the business, who are the customers, what services and products are offered, how to be a subject matter expert, how to ask questions, how to consume information to make decisions, and the list continues. There is also a technical component to every job across all industries. Every employed person needs to be able to read and interpret reports. That means being able to process context & perspective within the confines of a mathematical representation.
So, even though TradeCraft simulations are presently focused on Data Science & Analytics the value to individuals seeking roles in other career types is highly measurable. Immersive business simulations representative of real companies has nearly limitless potential just as simulations have demonstrated in countless other industries.
About the Author: My name is Ion King and I am the Chief Officer at Corsair's Ventures. My focus is on helping others passionate about growing careers in Data Science & Analytics achieve their goals. Connect with me on LinkedIn or find more of my articles on medium