A tool for determining the long-term behavior of a system represented by a transition matrix is essential in various fields. This tool allows users to input the matrix describing the probabilities of moving between different states within the system. For example, a transition matrix might describe customer movement between competing brands, or the probabilities of a machine transitioning between operational states. The tool then calculates the eventual distribution across these states, assuming the system remains undisturbed over a long period.
Understanding the eventual, equilibrium distribution often referred to as the stationary distribution provides crucial insights for decision-making. Whether predicting market share, optimizing resource allocation, or assessing long-term system reliability, this analysis offers valuable predictive power. Historically, calculating these distributions required laborious hand calculations or specialized software. However, the advent of online tools has significantly democratized access to this powerful analytical technique, enabling wider application across diverse fields.
