The giant magnetic impedance (GMI) effect in ferromagnetic materials has been investigated for sensing applications. The GMI properties were evaluated via numerical solution of the complex magnetic permeability of the material. MATLAB® simulation was carried out to study the frequency dependence of magnetic permeability via obtaining solutions of the Landau–Lifshitz–Gilbert (LLG) and the Maxwell’s equations. The results indicate that the complex magnetic permeability peaks at a frequency of 6 GHz, corresponding to the ferromagnetic resonant (FMR) frequency, where the energy loss is maximum. A variation of the Gilbert damping parameter () associated with the LLG equation inversely affects this peak value. The area under the curve of complex magnetic permeability, calculated through counting the number of pixels within the image, provides an estimate of the average energy loss density within the material and appears to be consistent with the variation of the peak intensity.