Operations research (OR)

WHAT IS IT?

Operations research (OR) is an academic discipline that utilizes advanced analytical methods to improve decision-making. Concerned with optimal decision-making and the modeling of deterministic and probabilistic systems, it employs techniques from mathematical sciences such as modeling, statistics, and optimization, targeting optimal or near-optimal solutions to complex decision-making problems. By analyzing complex situations to determine the best course of action, operations research helps organizations to efficiently allocate resources, optimize logistics, manage risk, and improve operational efficiency, thereby enhancing productivity, and reducing costs and risks across various sectors. Nowadays its applications now span various industries.