Estimating e-Commerce Revenues by Web-based Simulation and System Dynamics Approach

Hristoski, Ilija and Mitrevski, Pece and Dimovski, Tome and Kotevski, Zoran and Rendevski, Nikola (2015) Estimating e-Commerce Revenues by Web-based Simulation and System Dynamics Approach. In: International conference on Applied Internet and Information Technologies (AIIT2015), 23 October 2015, Zrenjanin, Serbia.

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The Internet has profoundly changed the nature of doing businesses worldwide. Since e-Commerce paradigm has radically prevailed in everyday shopping activities, calculating online revenue estimates has already become one of the most common questions regarding e-Commerce projects, especially the ones on the loom. Taking into account specific classes of e-Customers, the workload characterization of a given e-Commerce website, as well as the principles of the system thinking approach, the paper aims at describing the development of a Web-based simulation model, suitable for estimating the e-Commerce revenue across multiple operation profiles, i.e. working scenarios. The result of this research was the creation of a complete simulation model available online, which reflects the system dynamics logic, rather than the logic of conventional discrete-event simulation (DES) approach. Encompassing multiple adjustable input parameters, the model can be successfully utilized in making ‘what-if’-like insights into plethora of business-oriented performance metrics for a given e-Commerce website. The project is also a great example of the power delivered by InsightMaker, a free and Web-based tool, suitable for online development of any model following the systems thinking paradigm.

Item Type: Conference or Workshop Item (Paper)
Subjects: Scientific Fields (Frascati) > Natural sciences > Computer and information sciences
Scientific Fields (Frascati) > Engineering and Technology > Other engineering and technologies
Divisions: Faculty of Information and Communication Technologies
Depositing User: Prof. d-r. Zoran Kotevski
Date Deposited: 16 May 2023 13:12
Last Modified: 16 May 2023 13:12

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