# How to replace estimations and guesses with a Monte Carlo simulation

<https://lucasfcosta.com/2021/09/20/monte-carlo-forecasts.html>

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## What Jamie wrote

I think it would be so interesting to bring Monte Carlo simulations to business. Most businesses use fairly straightforward projections and only create a small, finite set of models. Monte Carlo simulations would do a much better job of identifying best and worst cases, and giving you probability of different outcomes. Alas, it’s all a bit too hard to generate, and the bigger issue is it is harder to read and interpret. This article is a good explainer on writing Monte Carlo simulations in code.

## Facts

- Kind: [Page](https://links.thingelstad.xyz/kinds/page/)

## Appears in

- [WT198: Weekly Thing #198 / Facebook, News, Kyiv](https://weekly.thingelstad.com/archive/198/), Notable

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## Elsewhere

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