The terminology "Operations Research" is somewhat unfortunate or even funny, since it is not any more concerned with operations, nor does its application involve any research in the traditional sense. Some good Operations Research definitions are:
Operations Research 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.
O.R. is the professional discipline that deals with the application of information technology for informed decision-making. It aims to provide a rational bases for decision making by seeking to understand and structure complex situations and to use this understanding to predict system behavior and improve system performance. Much of this work is done using analytical and numerical techniques to develop and manipulate mathematical and computer models of organizational systems composed of people, machines, and procedures.
O.R. draws upon ideas from engineering, management, mathematics, and psychology to contribute to a wide variety of application domains; the field is closely related to several other fields in the "decision sciences" - applied mathematics, computer science, economics, industrial engineering, and systems engineering.
O.R. is the science of rational decision making and the study, design and integration of complex situations and systems with the goal of predicting system behavior and improving or optimizing system performance. It encompasses managerial decision-making, mathematical and computer modeling and the use of information technology for informed decision-making.
Typical Operations Research methods and techniques
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.
Probability and statistics. Helping you measure risk, mine data to find valuable connections and insights, test conclusions, and make reliable forecasts.
Hi, I am struggling with a Operations Research Project . Would be grateful if someone can post an OR project involving the Solver from Excel. Looking forward for all the support
From United Arab Emirates, Dubai
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