INSIDE DSDE
About DSDE
KDnuggets | 12 January 2021
- Data and information management
What is Monte Carlo Integration?
Monte Carlo, is in fact, the name of the world-famous casino located in the eponymous district of the principality of Monaco on the world-famous French Riviera.
It turns out that the casino inspired the minds of famous scientists to devise an intriguing mathematical technique for solving complex problems in statistics, numerical computing, and system simulation.
One of the first and most famous uses of this technique was during the Manhattan Project when the chain-reaction dynamics in highly enriched uranium presented an unimaginably complex theoretical calculation to the scientists. Even the genius minds such as John Von Neumann, Stanislaw Ulam, and Nicholas Metropolis could not tackle it in the traditional way. They, therefore, turned to the wonderful world of random numbers and let these probabilistic quantities tame the originally intractable calculations.
Amazingly, these random variables could solve the computing problem, which stymied the sure-footed deterministic approach. The elements of uncertainty actually won.
Today, it is a technique used in a wide swath of fields:
Healthcare research, drug development
Statistical learning and modeling
Computer graphics, image processing, game design
Large system simulations
Computational physics, astronomy, etc.
For all its successes and fame, the basic idea is deceptively simple and easy to demonstrate. This story demonstrates it with a simple set of Python code.
Don't miss out on the latest technology delivered to your email monthly. Sign up for the Data Science and Digital Engineering newsletter. If you are not logged in, you will receive a confirmation email that you will need to click on to confirm you want to receive the newsletter.
Cybersecurity Insurance Has a Big Problem
AI Is Improving Operational Efficiencies Across Oil and Gas, Healthcare, ...
Digital Transformation Enables Automated Real-Time Torque-and-Drag Modeling
Remote Monitoring Digitizes Asset-Integrity Management
©2003-2021 Society of Petroleum Engineers, All Rights Reserved.
DSDE Categories
Related SPE Technical Sections
Drilling Systems Automation
Digital Energy
Drilling Uncertainty Prediction
Petroleum Data Driven Analytics (PD2A)
Management and Information Discipline