Multi-period financial simulator of a process

US9454739B2 · kind B2 · utility

Assignee

• WESTERN MICHIGAN UNIVERSITY RESEARCH FOUNDATION · US

Inventor

• David Meade · Grand Haven, US

Key dates

• Filing date: Oct 8, 2010
• Grant date: Sep 27, 2016
• Expiry date: Apr 6, 2034

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q10/0633
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A system configured for predicting a financial impact of a process is provided that includes a financial forecasting system (FFS) having at least one operational parameter and at least one financial data. The system further includes a discrete event simulator (DES) in communication with the FFS, wherein the DES is configured simulate a process based upon the at least one operational parameter and the at least one financial data for a first period of time, communicate resultant data from the simulation to the FFS, such that the FFS is configured to update the at least one operational parameter and the at least one financial data, which are based upon the communicated resultant data, and the DES is further configured to simulate the process based upon the updated at least one operational parameter and the at least one financial data for a sequential second period of time. The FFS and the DES are further configured to replicate the simulations of the sequential first and second periods of time with the operational parameter and the financial data having different statistical variations, and determine a confidence interval associated with the communicated resultant data.