Explain the concept of 'Simulation' in LabVIEW.

The concept of 'Simulation' in LabVIEW primarily refers to the ability to model real-world systems and predict their behavior before actual implementation. This approach allows developers to create virtual versions of physical processes or systems, enabling them to analyze and refine their designs under various conditions. By using simulation, engineers can test how systems might respond to certain inputs or changes in parameters, reducing the risk of errors and optimizing performance before the system is physically built or deployed.

This predictive capability is particularly valuable in engineering, where understanding the dynamics of a system can significantly impact design decisions and project outcomes. It serves as a powerful tool for validating concepts and ensuring that the implemented solution will meet the desired specifications and requirements in practical applications.