Operation research , application of scientific principles to business management
operations research (OR) Operations research (OR) is an analytical method of problem-solving and decision-making that is useful in the management of organizations. In operations research, problems are broken down into basic components and then solved in defined steps by mathematical analysis.
The field of operations research (alternately termed operational research or management science) is defined as the application of advanced analytical techniques in order to solve complex problems. Operations research (OR) contains a set of tools used by those who must make organizational decisions. Often these problems involve the allocation of scarce resources in such a way as to achieve a goal maximally (such as profit or level of service) or to minimize some negative consequence of the operation of an organization (such as cost or environmental degradation). In order to solve a complex problem posed by the operation of an organization or system, this problem must be formulated in such a way that it can be efficiently analyzed.
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