Bayesian network modeling for ROI simulation and scenario analysis: a case study on commercial aquaponics
摘要
Recirculating aquaponics, the integration of aquaculture and hydroponics, presents a promising solution to global food security, resource scarcity, and environmental degradation. This paper examines a techno-economic analysis for large-scale commercial aquaponics investments, introducing a Bayesian Network simulation methodology designed to mitigate financial risks and improve investment efficiency, profitability, and sustainability of aquaponic operations. The methodological approach presented here effectively captures the intricacies of such large-scale investments. Furthermore, this paper demonstrates the application of scenario extraction from simulated data, enabling the comparison of outcomes under a variety of conditions. These conditions, which might include low and high market demand, the influence of certification price premiums, and various marketing strategies, can be flexibly combined to create multiple scenarios. The design of the simulation model allows for flexible generation and combination of these conditions, providing a wide range of potential scenarios for comparison and analysis. Indeed, this approach's flexibility and versatility make it an effective decision support system, particularly useful in complex domains characterized by many variables and high levels of uncertainty and risk. While the focus here is on aquaponics, the methodology can be applied to other domains, improving decision-making processes, and leading to more informed and robust conclusions.