Operations research

Operations research, operational research, or simply OR, is the use of mathematical models, statistics, and algorithms to aid in decision-making. It is most often used to analyze complex real-world systems, typically with the goal of improving or optimizing performance. It is a subfield of applied mathematics. The terms operations research and management science are often used synonymously. When a distinction is drawn, management science generally implies a closer relationship to the problems of business management. Some of the primary tools used by operations researchers are statistics, optimization, stochastics, queueing theory, game theory, graph theory, and simulation. An operations researcher faced with a new problem is expected to determine which techniques are most appropriate given the nature of the system, the goals for improvement, and constraints on time and computing power. For this and other reasons, the human element of OR is vital. Like any other tools, OR techniques cannot solve problems by themselves.