Often motivated by new decision problems, OR researchers work to improve and expand the applicable methodologies.Īs OR professionals strive to construct models that accurately represent and forecast relationships, they may use statistical analysis.
Rather than using trial and error on the system itself, they build an algebraic or computational model of the system and then manipulate or solve the model, using computers, to come up with the best decisions. To do this, OR professionals first represent the system in mathematical form. OR analysts solve such management decision problems with an array of mathematical methodologies. Efficient allocation of resources may entail establishing policies, designing processes, or relocating assets. Typically, applications of OR in these and other areas deal with decisions involved in planning the efficient allocation of scarce resources - such as material, skilled workers, machines, money and time - to achieve stated goals and objectives under conditions of uncertainty and over a span of time. marketing and revenue management systems.OR is regularly applied in areas such as: Operations Research (OR) applies scientific method to the management of organized systems in business, industry, government and other enterprises.
