Operation Research

What Operations Research Is???

Operations research (O.R.) is the discipline of applying advanced analytical methods to help make better decisions.

By using techniques such as mathematical modeling to analyze complex situations, operations research gives executives the power to make more effective decisions and build more productive systems based on:

• More complete data
• Consideration of all available options
• Careful predictions of outcomes and estimates of risk
• The latest decision tools and techniques

O.R. professional offers the ability to define specific challenge in ways that make the most of data and uncover most beneficial options.To achieve these results, O.R. professionals draw upon the latest analytical technologies, including:

• Simulation ~ Giving the ability to try out approaches and test ideas for improvement
• Optimization~Narrowing choices to the very best when there are virtually innumerable feasible options and comparing them is difficult
• Probability and Statistics~ Helping measure risk, mine data to find valuable connections and insights, test conclusions, and make reliable forecasts