Operations Research is an interdisciplinary science which deploys scientific methods like mathematical modeling, statistics, and algorithms to decision making in complex real-world problems which are concerned with coordination and execution of the operations within an organization.
Primary tools used by operations researchers are statistics, Optimization (mathematics) |optimization, stochastic, queuing theory, game theory, graph theory, and simulation. Because of the computational nature of these fields OR also has ties to computer science, and operations researchers regularly use custom-written or off-the-shelf software.
Operations research analysts study problems, breaking them into their components. Analysts then gather information about each of the components from a variety of sources. To determine the optimal inventory, for example, operations research analysts might talk with engineers about production levels, discuss purchasing arrangements with buyers, and examine storage-cost data provided by the accounting department. With the relevant information in hand, the analyst determines the most appropriate analytical technique to solve the problem
So in a nutshell, operational research (O.R.) is the discipline of applying appropriate analytical methods to help make better decisions.
Major employers of operational research personals include computer systems design firms; insurance carriers and other financial institutions; telecommunications companies; management, scientific, and technical consulting services firms.
National Institute of Technology Trichy offers M.Sc in operational research and computer application.