concept of financial_research

May 28th, 2015
Studypool Tutor
Aberystwyth University
Price: $25 USD

Tutor description

Operations research (also known as management science ) the application of scientific methods, techniques and tools to problems involving the operations of a system so as to provide those in control of the system with optimum solutions to problems.

Word Count: 2201
Showing Page: 1/39
OPERATIONS RESEARCH:THE SCIENCE OFBETTER.OPERATIONS RESEARCH (ALSO KNOWN AS MANAGEMENT SCIENCE ) THE APPLICATIONOF SCIENTIFIC METHODS, TECHNIQUES AND TOOLS TO PROBLEMS INVOLVING THEOPERATIONS OF A SYSTEM SO AS TO PROVIDE THOSE IN CONTROL OF THE SYSTEM WITHOPTIMUM SOLUTIONS TO PROBLEMS.Operations Research is the discipline of applying advanced analytical methods to helpmake better decisions.By using techniques such as mathematical modelling to analyze complex situations, operationsresearch gives executives the power to make more effective decisions and build more productivesystems based on: More complete data Consideration of all available options Careful predictions of outcomes and estimates of risk The latest decision tools and techniques** Industrial engineering takes more of an engineering point of view,and industrial engineers typically consider OR techniques to be a majorpart of their tool set.OPERATIONS RESEARCH:BETTER DECISIONMAKING.WHY OPERATIONS RESEARCH NEEDED?UNIQUELY POWERFUL APPROACH TO DECISION MAKING IN ACOMPLEX WORLDYou face complex decisionsYoure having problems with processes.Youre troubled by risk.Your organization is not making the most of itsdata.You need to beat stiffcompetition.OR CONSISTENTLY DELIVERS SIGNIFICANT VALUE STRATEGIC TO TACTICAL, TOP-LINE TO BOTTOM-LINE TOTHE ORGANIZATIONS AND EXECUTIVES WHO USE IT.A FEW EXAMPLES:1 SEARS USED O.R. TO CREATE A VEHICLE ROUTI

Review from student

Studypool Student
" Tutor was very helpful and took the time to explain concepts to me. Very responsive, managed to get replies within the hour. "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1822 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors