Operations Research

Definition

Operations Research (OR) is the discipline of applying advanced analytical methods to help make better decisions, that is to optimize products, processes, business.

 

Use

By using techniques such as mathematical modeling to analyze complex situations, operations research gives 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

Operations Research designs and uses advanced tools and technologies to provide analytical power that no ordinary software or spreadsheet can deliver out of the box. To achieve these results, OR draws upon the latest analytical technologies.

 

Technologies

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