Operational Research
Operational Research (OR) is a discipline that uses advanced analytical methods to help make better decisions. In the context of Game Theory, which studies strategic interactions among individuals or groups, OR models complex scenarios to predict outcomes and optimize strategies. It applies mathematical techniques to evaluate various choices and their potential consequences, aiming to achieve the best possible results. OR is widely used in various fields, such as economics, logistics, and management, to improve efficiency and effectiveness in decision-making processes.
Additional Insights
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Operational Research (OR) is a discipline that uses advanced analytical methods to help make better decisions. By applying techniques from mathematics, statistics, and computer science, OR examines complex problems within organizations—like optimizing processes, resource allocation, and scheduling. Its goal is to improve efficiency and effectiveness in operations, whether in manufacturing, logistics, healthcare, or other sectors. By analyzing data and modeling various scenarios, OR provides insights that assist managers in choosing the best course of action, ultimately enhancing performance and achieving desired outcomes.