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Operations research (British English: operational research) (U.S. Air Force Specialty Code: Operations Analysis), often shortened to the initialism OR, is a discipline that deals with the development and application of analytical methods to improve decision-making. [1] The term management science is occasionally used as a synonym. [2]
In this example a company should prefer product B's risk and payoffs under realistic risk preference coefficients. Multiple-criteria decision-making (MCDM) or multiple-criteria decision analysis (MCDA) is a sub-discipline of operations research that explicitly evaluates multiple conflicting criteria in decision making (both in daily life and in settings such as business, government and medicine).
A case study is an in-depth, detailed examination of a particular case (or cases) within a real-world context. [1] [2] For example, case studies in medicine may focus on an individual patient or ailment; case studies in business might cover a particular firm's strategy or a broader market; similarly, case studies in politics can range from a narrow happening over time like the operations of a ...
Problem structuring methods (PSMs) are a group of techniques used to model or to map the nature or structure of a situation or state of affairs that some people want to change. [1] PSMs are usually used by a group of people in collaboration (rather than by a solitary individual) to create a consensus about, or at least to facilitate ...
The Operational Research Society (OR Society), also known as The OR Society, is an international learned society in the field of operational research.The OR Society is a leading professional body for operational research (OR) practitioners and academics. Based in the United Kingdom, the society promotes the understanding and use of operational ...
The Journal of the Operational Research Society is a monthly peer-reviewed academic journal covering operations research.It is an official journal of the Operational Research Society and publishes full length case-oriented papers, full length theoretical papers, technical notes, discussions (viewpoints) and book reviews.
Data envelopment analysis (DEA) is a nonparametric method in operations research and economics for the estimation of production frontiers. [1] DEA has been applied in a large range of fields including international banking, economic sustainability, police department operations, and logistical applications [2] [3] [4] Additionally, DEA has been used to assess the performance of natural language ...
Behavioral operations research often benefits from the development of comprehensive systems models as they are able to analyse and provide an insight of the operational system. This allows the study of behavioral operations to understand how people in these settings or work conditions think about the context in which they operate. In an ...