Foundations of Operations Research
- (The University of Chicago - Alvin Wei-Cheng Wong)
- Overview
Operations research (OR) is a discipline that uses analytical methods to improve decision-making. It is also known as management science and industrial engineering.
OR is a branch of applied mathematics that uses mathematical models, statistics, and algorithms to aid in decision-making. It is often used to analyze complex real-world systems, typically with the goal of improving or optimizing performance.
OR uses a variety of techniques and methods, including:
- Simulation
- Mathematical optimization
- Queueing theory
- Markov decision processes
- Econometric methods
- Data envelopment analysis
- Ordinal priority approach
[More to come ...]
