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Applying Analytical Methods to Decision-making

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Operations Research

Summary/Abstract


The term OR is somewhat unfortunate or even funny, since OR is not (any more) concerned with operations, nor does its application involve any research in the traditional sense. Some good Operations Research definitions are:

As a science, O.R. traces its roots back to World War II, as military planners such as Frederick Lanchester and Patrick Blackett looked for ways to bring scientific calculations to Allied warfare against Nazi Germany.


Typical OR methods include:

O.R. can be used for supporting an indefinite number of business decisions. However, typical applications of OR are:


👀Here you can find more about Operations Research.


Compare with Operations Research:  Simulation  |  Benchmarking  |  Regression Analysis  |  Exponential Smoothing  |  CAPM  |  Real Options  |  Game Theory


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