Operations research, or operational research in British usage, is a discipline that deals with the application of advanced analytical methods to help make better decisions. It is often considered to be a sub-field of mathematics. The terms management science and decision science are sometimes used as more modern-sounding synonyms.
Employing techniques from other mathematical sciences, such as mathematical modeling, statistical analysis, and mathematical optimization, operations research arrives at optimal or near-optimal solutions to complex decision-making problems. Because of its emphasis on human-technology interaction and because of its focus on practical applications, operations research has overlap with other disciplines, notably industrial engineering and operations management, and draws on psychology and organization science. Operations Research is often concerned with determining the maximum (of profit, performance, or yield) or minimum (of loss, risk, or cost) of some real-world objective. Originating in military efforts before World War II, its techniques have grown to concern problems in a variety of industries.
Read more about Operations Research: Overview, History, Problems Addressed With Operational Research, Management Science, Societies and Journals
Famous quotes containing the words operations and/or research:
“You can’t have operations without screams. Pain and the knife—they’re inseparable.”
—Jean Scott Rogers. Robert Day. Mr. Blount (Frank Pettingell)
“Our science has become terrible, our research dangerous, our findings deadly. We physicists have to make peace with reality. Reality is not as strong as we are. We will ruin reality.”
—Friedrich Dürrenmatt (1921–1990)