How OR can Aid the complex problem of concern Decision Making How OR can aid watchfulness Decision Making Modern businesses have more penury to predict future operations than those of the past do. Managers in big corporations have to summarise and analyse the various data functional to them when qualification decisions. The U.K. OR Society defines the operational research decision- do techniques ?as a scientific model of the system, incorporating measurements of factors such as get and risk, with which to predict and compare the outcomes of alternative decisions, strategies/ controls.
? The purpose of these techniques is to help diplomacy determine its policy and action scientifically. ?The models of OR are typic or abstract representations of real life problems.? Examples of techniques that can be used by managers for use in decision making are for example, forecasting. Statistical forecasting is to an extent, an extension of the prediction of a dependent varia...If you want to get a full essay, ordain it on our website:
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