Quantum simulation is of great interest in the context of condensed matter physics, where it may provide valuable insights into the properties of interacting quantum systems. The ultracold atoms are used to implement an analogue of the condensed matter system of interest, which can then be explored using the tools available in the particular implementation. Since these tools may differ greatly from those available in the actual condensed matter system, one can thus experimentally probe otherwise inaccessible quantities. Furthermore, ultracold atoms may even allow to create exotic states of matter, which cannot otherwise be observed in nature.