Operational Research
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Operations Research or Operations Research in the UK is a discipline that deals with the use of complex analytical techniques to help make better decisions. In addition, the term “operational analysis” is used in the British (and some British) armed forces as an integral part of development, management and capabilities. In particular, operational analysis is part of a combined assessment of operational efficiency and investment, which supports decision-making on the acquisition of British military capabilities.
This is often considered an area of applied mathematics. The concepts of “management science” and the science of decision making are sometimes used interchangeably.
Using methods from other mathematical sciences, such as mathematical modeling, statistical analysis, and mathematical optimization, operations research achieves optimal or nearly optimal solutions to complex decision-making problems. Because the focus is on the interaction between human technology and focuses on practical application, operations research intersects with other disciplines, in particular industrial design and operations management, and is based on the science of psychology and organization. Surveys of operations often deal with determining the final values of a real goal: maximum (profit, efficiency, or profitability) or minimum (loss, risk, or price). Armed with military efforts before World War II, his methods gave rise to problems in various industries.
The main disciplines in today’s operations research defined in the journal of operations research are:
- Computer and Information Technologies
- Financial engineering
- Production, Research and Supply Chain Management
- Policy modeling and public sector work
- Revenue Management
- modeling
- Stochastic models
- Transportation