How OR can Aid the complex problem of precaution Decision Making How OR can aid finesse Decision Making Modern businesses have more beggary to predict future operations than those of the past do. Managers in large corporations have to summarise and analyse the various data useable to them when qualification decisions. The U.K. OR Society defines the operational research decision-making techniques ?as a scientific model of the system, incorporating measurements of factors such as snuff it and risk, with which to predict and compare the outcomes of alternative decisions, strategies/ controls.
? The purpose of these techniques is to help worry determine its policy and action scientifically. ?The models of OR are emblematic 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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