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CP045: Introduction to Monte Carlo Simulations in Excel
Chandoo.org Podcast Sessions - 1 comment
In the 45th session of Chandoo.org podcast, let’s get in to Monte Carlo simulations.
What is in this session?
In this podcast,
- Quick personal updates – 200km BRM and book delay
- History of Monte Carlo simulations
- Monte Carlo simulations – an example
- How to do simulations in Excel
- Formulas
- VBA
- Data Tables
- Using data tables to run simulations – case study – estimating Pi value
- Things to keep in mind when setting up your simulation models
- Resources on Monte Carlo simulations in Excel
- Conclusions
Listen to this session
Podcast: Play in new window | Download
Subscribe: RSS
Click here to download the MP3 file.
Resources on Monte Carlo simulations
Articles & tutorials on data tables & Monte Carlo simulations
- The best explanation about data tables & Monte Carlo simulations
- Estimating Pi ? value by throwing frozen hot dogs on Excel charts
- Simulating Monopoly board game to find best strategies
Example workbook – Estimating Pi value with Monte Carlo simulations
Courses:
- 50 ways to analyze your data from Chandoo
50 ways to analyze data is a comprehensive online course to help you become a better analyst. In this course, you will learn how to create Monte Carlo simulations, optimization models, advanced analysis models & visualizations.
Please click here to know more about 50 ways program
Transcript of this session:
Download this podcast transcript [PDF]
Simulate stuff? Stimulate someone, share stories…
Do you simulate stuff at your work (or personal life)? If so, please share your experience with rest of Chandoo.org audience. Post your simulation process, tips & ideas in the comments section.
Hello Awesome...
My name is Chandoo. Thanks for dropping by. My mission is to make you awesome in Excel & your work. I live in Wellington, New Zealand. When I am not F9ing my formulas, I cycle, cook or play lego with my kids. Know more about me.
I hope you enjoyed this article. Visit Excel for Beginner or Advanced Excel pages to learn more or join my online video class to master Excel.
Thank you and see you around.
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At Chandoo.org, I have one goal, "to make you awesome in Excel & Power BI". I started this website in 2007 and today it has 1,000+ articles and tutorials on data analysis, visualization, reporting and automation using Excel and Power BI. 
One Response to “CP045: Introduction to Monte Carlo Simulations in Excel”
Simulated inventory planning process at work and for academic purposes. Originally Excel+VBA model, then it was extended and converted to Anylogic software:
http://www.runthemodel.com/users/252/
Excel knowledge helps alot at model output verification step :).
P.S. I think chandoo.org is the best excel site in the web, reading it for 2+ years