The DecisionTools Suite: Risk & Decision Analysis Software for Excel - Palisade Wouldn’t you like to know the chances of making money on your next venture? Or which of many decision options is most likely to yield the best payoff? How about the best sequential drilling strategy? Or how much to invest in various projects in order to maximize the return on your project portfolio? Everyone would like answers to these types of questions. Armed with that kind of information, you could take a lot of guesswork out of big decisions and plan strategies with confidence. The DecisionTools Suite is an integrated set of programs for risk analysis and decision making under uncertainty that runs in Microsoft Excel. Learn how to get started quickly in the DecisionTools Suite Watch videos of different industry applications of the DecisionTools Suite Watch videos of the DecisionTools Suite features » More on risk analysis » More on Monte Carlo simulation The DecisionTools Suite is also available in Spanish, Portuguese, German, French, Russian, Japanese and Chinese. » Update Now
Learn About O.R. Home Page - EPSRC About - Department for Business, Innovation & Skills The Department for Business, Innovation & Skills (BIS) is the department for economic growth. The department invests in skills and education to promote trade, boost innovation and help people to start and grow a business. BIS also protects consumers and reduces the impact of regulation. Responsibilities We are responsible for: working with further and higher education providers to give students the skills they need to compete in a global employment market supporting innovation and developing the UK’s science and research industry, which is important to help economic growth making sure consumer law is fair for both consumers and businesses, and that consumers know their rights and are able to use them effectively supporting British businesses to increase productivity and compete anywhere in the world better regulation - by cutting the amount of regulation and making it easy to understand we can help businesses cut time, save money and be more efficient Priorities Who we are
Home page | The Science of Better Operational researcher: Job description Operational researchers use analytical and creative skills to assist organisations in developing better systems and operational procedures. By examining an organisation's operations and using mathematical modelling, computer software or other analytical approaches, they find more effective ways of working. The organisation is then able to use the information to develop a strategic policy and make better decisions. Operational research (OR), sometimes known as management science, was developed in Britain during World War Two, when it was used to apply mathematical and scientific techniques to the planning of military operations. Today it is utilised throughout industry, commerce and government services. Typical work activities Operational researchers use qualitative problem-structuring techniques and simulation and advanced quantitative methods for the purpose of: Duties often involve:
Operational researcher: job description Operational researchers use mathematical, analytical and computational techniques to provide quantitative and qualitative information that will improve managerial decision-making. What do operational researchers do? Typical employers | Qualifications and training | Key skills Operational research involves: determining and clarifying strategic and operational problems via consultation with appropriate employees outlining objectives collecting, analysing and interpreting data identifying and assessing possible strategies presenting results that are easily understood implementing agreed solutions A large proportion of the work involves numerical and computational analytical techniques, often using expert systems and artificial intelligence. Typical employers of operational researchers Consultancies The Civil Service Financial organisations Commercial organisations Industrial organisations Qualifications and training required Key skills for operational researchers Next: search graduate jobs
Operational researcher Job Information Page Content Operational researcher Hours30-40 per weekStarting salary£20,000 + per year As an operational researcher you would use your IT, maths and creative skills to analyse how organisations could improve their systems and find more effective ways of working. You’ll be explaining complex ideas to people in this job so you will need excellent written and spoken communication skills. You would usually need a degree to become an operational researcher. WorkDesc The work Operational researchers (also known as management scientists) use advanced mathematical and business theory to help companies and government departments solve business problems and make better decisions. As an operational researcher, you might be brought in to improve an organisation’s efficiency, or to provide information for senior managers to use when developing policies and predicting future business trends. You might work alone or in a small team, on tasks which would typically include: HoursDesc Hours IncomeDesc Income News
Learn About O.R. - Career Opportunities Career opportunities for O.R. professionals are extensive. The demand for O.R. specialists and the variety of work on offer continues to grow. One of the attractions of O.R. work is its variety. Operational Researchers work within or across many of these professional fields: Image courtesy of Prospect Recruitment The following links aim to provide relevant employer information to help find a job in O.R. Visit www.TheORSociety.com to see current job adverts. GORS: Home - Career path Grades Depending on qualifications, OR analysts are recruited into the civil service at one of three grades: Departments and agencies have been encouraged to develop their own pay and grading systems and so the grade structures and salary scales across departments have diverged. Qualifications All applicants should have, or be expecting in the academic year in which they apply, a good degree in a numerate discipline. It is an advantage to have some knowledge of the analytical methods used in operational research and statistics. Whilst knowledge of OR techniques is an advantage, it is not essential. Development These are good opportunites for career development within OR.
Learn About O.R. - University Students, What is O.R.? In a nutshell, operational research (O.R.) is the discipline of applying advanced analytical methods to help make better decisions. By using techniques such as mathematical modelling to analyse complex situations, operational research gives executives the power to make more effective decisions and build more productive systems based on: More complete data Consideration of all available options Careful predictions of outcomes and estimates of risk The latest decision tools and techniques Once a good or better way of proceeding has been identified, O.R. people are often central to the implementation of the proposed change. Organisations may seek a very wide range of operational improvements - for example, greater efficiency, better customer service, higher quality or lower cost. Most of the problems O.R. tackles are messy and complex, often entailing considerable uncertainty.