Operations research analysts use advanced mathematical and analytical methods to help organizations solve problems and make better decisions.
Operations research analysts spend most of their time in offices, although some travel may be necessary to meet with clients. Almost all operations research analysts work full time.
The median annual wage for operations research analysts was $79,200 in May 2016.
Employment of operations research analysts is projected to grow 27 percent from 2016 to 2026, much faster than the average for all occupations. As technology advances and companies seek efficiency and cost savings, demand for operations research analysis should continue to grow.
Explore resources for employment and wages by state and area for operations research analysts.
Although the typical educational requirement for entry-level positions is a bachelorвЂ™s degree, some employers may prefer to hire applicants with a masterвЂ™s degree. Analysts typically have a degree in business, operations research, management science, analytics, mathematics, engineering, computer science, or another technical or quantitative field.
Operations research analysts use sophisticated computer software, such as databases and statistical packages, to analyze and solve problems. Analysts use statistical software to simulate current and future events and evaluate alternative courses of action. Analysts break down problems into their various parts and analyze the effect that different changes and circumstances would have on each of these parts. For example, to help an airline schedule flights and decide what to charge for tickets, analysts may take into account the cities that have to be connected, the amount of fuel required to fly those routes, the expected number of passengers, pilotsвЂ™ schedules, maintenance costs, and fuel prices.
Analysts must first identify and understand the problem to be solved or the processes to be improved. Analysts typically collect relevant data from the field and interview clients or managers involved in the business processes being examined. Analysts show the implications of pursuing different actions and may assist in achieving a consensus on how to proceed.
Operations research analysts are involved in all aspects of an organization. They help managers decide how to allocate resources, develop production schedules, manage the supply chain, and set prices. For example, they may help decide how to organize products in supermarkets or help companies figure out the most effective way to ship and distribute products.
Determining optimal prices, in many retail and B2B settings, within the disciplines of pricing science
Scheduling: of machines at the shop-floor, airline flights etc
Floor-planning: designing the layout of equipment in a factory or components on a computer chip to reduce manufacturing time (therefore reducing cost)
Customer Care Centres: response tactics
Network optimization: for instance, setup of telecommunications networks to maintain quality of service during outages, setting up a supply chain network, hub location in cargo delivery network.
There are many application of OR. It is a discipline that deals with the application of advanced analytical methods to help make better decisions. Operations research gives optimal or near-optimal solutions to complex decision-making problems.
Location decision: of factories.
Modelling and Queuing systems in network
Transportation: managing freight transportation and delivery systems