1. A computer-implemented method for ranking design parameter significance, the method comprising: receiving, by a computer, an input dataset representative of a physical object, wherein the input dataset comprises a plurality of baseline parameters and a probability for each of the plurality of baseline parameters; receiving, by the computer, one or more performance requirements; for each respective baseline parameter included in the plurality of baseline parameters, using the computer to perform an analysis process comprising: selecting a range of parameter values for the respective baseline parameter based on its corresponding probability distribution, segmenting the range of parameter values into a plurality of parameter subsets based a pre-determined granularity for the respective parameter, running a plurality of instances of a simulation using the one or more performance requirements to yield a plurality of snapshots, wherein each respective instance corresponds to one of the plurality of parameter subsets, deriving a Proper Orthogonal Decomposition (POD) basis using the plurality of snapshots, performing a sensitivity analysis based on the POD basis to yield a sensitivity measurement representative of an effect of variation of the respective parameter on the one or more performance requirements; and generating, by the computer, a ranking of the plurality of baseline parameters according to their corresponding sensitivity measurements.