Operations Research is an interdisciplinary branch of applied mathematics and formal science that uses methods such as mathematical modeling, statistics, and algorithms to arrive at optimal or near optimal solutions to complex problems and enable decision makers to make more informed decisions. Operations research helps management achieve its goals using scientific methods.
Operations researchers faced with new problems determine which techniques are most appropriate given the nature of the system, the goals for improvement, and constraints on cost, schedule and budget. By using techniques such as mathematical modeling to analyze complex situations, operations research gives decision makers the power to make more effective decisions and build more productive system.
Some of the primary tools used by operations researchers are:
- Simulation – Test approaches and ideas for improvement in a simulated environment.
- Optimization – Narrow choices to the very best when there are virtually innumerable feasible options and comparing them is difficult.
- Probability and Statistics – Measure risk, mine data to find valuable connections and insights, test conclusions, and make reliable forecasts.
Some of the benefits of Operations Research are:
- More complete data
- Consideration of all available options
- Careful predictions of outcomes and estimates of risk
- The latest decision tools and techniques
For more information on Operations Research, visit http://www.informs.org & http://mors.org.
The knowledge and expertise possessed by the DAT is enhanced by a business model that stresses collaboration and is focused in three interrelated areas including: Operations Research, Analytical Tools, and Facilitation.