Simulation: getting started

Create, share and analyze visitation, revenue* and membership* projections to support your scenario planning. In this section, we’ll walk through getting started, take you on a tour of the module and facilitating scenario planning in your organization.

Check out the webinar with Diana Pan, Chief Technology Officer at Museum of Modern Art (MOMA).

*Simulation+ upgrade 

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1. Register and submit data

When you register for Simulation or Simulation+, you’ll receive a confirmation welcome email with instructions on how to get started. To begin, you’ll need daily visitation totals for at least 12 months history up until the day you closed due to COVID-19 (or more for greater accuracy, if available). Download the template and send data in XLS format to info@dexibit.com.

In the meantime, our team will provision your account, including a daily baseline forecast using machine learning trained from your historic visitation. We’ll have it ready within 48 hours of receiving your data.

 

Checklist:

  • Register for Simulation or Simulation+
  • Submit at least 12 months daily visitation data via template
  • Keep an eye out for your user invite (contact us if you haven’t received this within 48 hours of submitting your data)

2. Manage simulations

Once we’ve received your data and have everything setup, you’ll receive a user invite with details on how to login (let us know if you’d like to add other users, up to 3 for Simulation, or 10 for Simulation+).

Once you’re logged in, you’ll be ready to create your first simulation. Using the assumptions panel on the right, toggle on and configure assumptions you wish to apply. As your simulation is ready, you can save your simulation to recall later or share with your team, analyze and compare*, download or commit to plan*. You can create as many simulations as you like and replace or version control these as desired.

*Simulation+ upgrade

 

Checklist:

3. Adopt scenario planning best practices

In addition to using the Simulation tool, you’ll find scenario planning a valuable exercise to workshop with your team. We suggest approaching the simulation process iteratively by regularly assessing a situation report, designing assumptions for various cases, simulating the results, planning how you’ll respond and calculating your financial runway and resulting decisions.

We recommend planning at least a best, worst and most probable case. In addition to managing these projections over time, you may wish to dive into more granular simulations – for example based on varying assumptions by quarter, or by month.

 

Checklist:

  • Download the Scenario Planning kit and workshop potential assumptions
  • Following simulation, create a response plan for each scenario
  • Schedule a regular situation report check and iterate as needed

 

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