Operations Research

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:

    It may seem strange that any road through such a wilderness should be passable, even in winter, when the snow is three or four feet deep, but at that season, wherever lumbering operations are actively carried on, teams are continually passing on the single track, and it becomes as smooth almost as a railway.
    Henry David Thoreau (1817–1862)

    Men talk, but rarely about anything personal. Recent research on friendship ... has shown that male relationships are based on shared activities: men tend to do things together rather than simply be together.... Female friendships, particularly close friendships, are usually based on self-disclosure, or on talking about intimate aspects of their lives.
    Bettina Arndt (20th century)