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It is difficult to envy the position of today’s typical marketer. The pace of change in most industries is unparalleled due to the rapid increase in technology, the lightening speed by which information flows and the insane amount of data that created by businesses. Many companies are best described as “data rich and information poor”.

The demands and expectations on marketing to prove it to be more than just an expense are increasing at the same time the complexity of consumers and the marketplace are increasing.

Here’s the paradox: many companies are now beginning to turn to techniques to help them understand these complexities that are grounded in simplicity. Taking a step back from complex statistical and mathematical formulations to model their consumers and markets a technique, right out of the hard sciences, is taking root that is based on simple rules.

Agent-based modeling is a framework for simulating the inherent properties of complex systems. Applied to business systems, there are an increasing number of applications for ABM:

• Supply Chain Management
• Distribution optimization
• Retail store design
• Marketing mix optimization
• Cross channel behavior
• Measuring word-of-mouth