Application of a Business Economics Decision-Making Function in an Agent Simulation Framework

The aim of the paper is to introduce a novel multi-agent simulation approach and its application allowing to deal with the trading processes of a virtual company. The motivation is to use implemented simulation framework as a basic part of an information system, operating as an integrated component of an actual ERP system implemented within a company so as to investigate and to predict the chosen business metrics of a company. Such a system serves to enable the management of a company to support their decision-making processes. The paper firstly presents the contemporary importance of simulation method. Secondly, the paper characterizes concrete multi-agent model of a virtual company, agents, and the decision-making function. Thirdly, the simulation framework application MAREA will be introduced. Lastly, the simulation results and their comparison with actual data, and the verification possibilities of the simulation model are described. It will be demonstrated that the proposed approach to customer behaviour in an agent-based simulation model could properly contribute to a better decision-making process.