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AN ASSESSMENT OF OPERATIONS RESEARCH: A PANACEA FOR PROBLEM-SOLVING INTELLIGENT BUSINESS DECISION MAKING
The study was sort to investigate the assessment of operations research as a panacea for problem-solving intelligent business decision-making. Operations Research is the application of scientific methods to improve the effectiveness of operations, decisions, and management. By means such as analyzing data, creating mathematical models and proposing innovative approaches, Operations Research professionals develop scientifically based information that gives insight and guides decision-making. They also develop related software, systems, services and products. Operations research attempts to provide those who manage organized systems with an objective and quantitative basis for decision; it is normally carried out by teams of scientists and engineers drawn from a variety of disciplines. The study reviewed the concept of operations research, it history, characteristics, applications and it importance. The study also reviewed the concept of decision-making, Concept of Business Decision-Making, Concept of intelligent Business Decision-Making, and Concept of Data Scientist. It was on this basis that the paper concluded that the main aim of Operations Research is to find the best solution for any problem. It goal is to help managers obtain a quantitative basis for decision-making. This results in increased efficiency, more control and better coordination in the organization when fulfilling the required objectives. Operation research approach helps in operation management. One of the characteristics of operations research is it quantitative solution, The scope of operations research encompasses any effort to methodically apply modern mathematics, statistics, and computer science techniques to governmental, business, and industrial problems in managing materials, money, machines, and human beings. Operational research can be applied in a wide range of industries to help with complex problems in planning, policy-making, scheduling, forecasting, resource allocation, process analysis, operations research is important because it increases productivity and lower failure risk. One of the recommendations made was that operations researchers should ensure that they introduce operations research to various organizations and let them have adequate knowledge of the roles it performs and the benefit of applying the techniques in solving the materials, human and financial related problems.
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