Overview of Operations Research

Operations Research is a branch of applied mathematics that focuses on the optimization and best utilization of resources for decision-making purposes. It’s an important field within business, industry, engineering, economics, and the military, and is also increasingly important in areas such as healthcare and transportation. The ultimate goal of Operations Research is to improve the efficiency of any organization or process that it is applied to.

Career Opportunities associated with Operations Research

Operations Research allows students to analyze complex scenarios and explore effective ways of dealing with them. With a bachelor’s or PhD in Operations Research you can find a job in almost any organization as an Operations Research analyst, analyst consultant, manager, or executive. You can also pursue Datamininig, Management Science, Optimization technologies, Quality System engineering, Decision Support System engineering and many other fields that involve operations research.

Internship/Co-op Opportunites related to Operations Research

Organizations such as IBM, Oracle, Dell, HP, and Microsoft have co-op programs with universities where students from operations research degrees can apply for internships and gain valuable experience in this field. Additionally, many universities also offer internships at research centers that focus on developing new and innovative solutions and technologies utilized by operations research.

Specialized Tracks or Concentrations within Operations Research

There are several specialized areas within the field of Operations Research. These include Resource Allocation, Constraint Programming, Programming Languages, Linear Programming, Network and Graph Analysis, Decision Trees, Linear and Integer Programming, Supply Chain Optimization, Data Mining and Statistical Analysis, and Simulation. Each of these areas has its own set of requirements to master before students can develop expertise in the fields of operations research.

How Operations Research Prepares Students for Graduate School or Further Education

Operations Research combines a range of disciplines such as mathematics, statistics, computer science, engineering, and economics. This provides students with a broad foundation of knowledge which can be applied in various settings such as industry, academia, and government. A degree in Operations Research prepares students to pursue advanced degrees in business, analytics, economics, public health, and other related fields. It also provides students with the necessary skills to pursue research in a variety of fields.

Impact of Artificial Intelligence on Operations Research

The emergence and development of artificial intelligence (AI) and machine learning has had a major impact on operations research. AI has become a necessary component of operations research, as it now surpasses humans in terms of speed and accuracy in processing data. AI can be used to automate decision-making processes as well as to identify patterns and anomalies in data that is not visible to the human eye.

The Career Outlook for Operations Research

The field of operations research is growing rapidly in both the academic and the professional world. Demand for operations research is increasing as companies seek to improve their operations and maximize efficiency. According to the Bureau of Labor Statistics, the employment of operations research analysts is projected to increase by 28% from 2020 to 2028. This is significantly higher than the national average projected growth rate of 4%.

Here are the top reported starting salaries for graduates in Operations Research:

Columbia University in the City of New York, Salary: $87,327

Cornell University, Salary: $78,243

California State University-Northridge, Salary: $45,988

For privacy reasons, not all schools report the first year salaries for students who earned their bachelor’s degree in Operations Research.