Operational Research & the Decision Sciences Essay

Operational Research & the Decision Sciences - Essay Example While this will be based on the latest decision making tools and methods, all available options should be considered as input to the operation research model adopted for a particular case.......................(1) All business organizations would expect their executives to have enhanced decision-making capability to lead the business from the front on a gainful and productive basis. Operation research is the powerful tool to achieve this. While there are many professional tools and software available to help the business leaders for better decision making, Operation research is unique as it considers only the specific inputs and data that is applicable for a particular challenging problem, while considering the best options and information which is most beneficial for the organization. Hence, the operation research professionals customize each solution, that is unique and tailor made for the imposing challenge. When the available choices are many and it is difficult to work on a particular option, the optimization technology is adopted for minimizing the risks involved, eliminating the unworkable options, while finding the best choice available. This relates to the collection of huge data concerned with the imposing challenge; categorize this data into various degrees of risk involving groups, while finding the connected information, about each group. This method helps in comparing the risk management of the data collected and comparing each group This leads to testing of many options and conclusions for reaching the best solution possible...............(2) When a process is not working efficiently due to non decision making ability at the ground level for day to day operations, there is a need to employ operational research techniques for improving the overall efficiency of the effected process, which in turn can result in better functioning of related processes in the operational chain. This will finally help in the improvement