Operations research is the use of statistical analysis and mathematical optimization techniques to help organizations solve problems and improve decision-making. The ability to harness vast amounts of data on day-to-day operations has created opportunities to rigorously optimize processes for cost, quality control, inventory management, and other goals, making operations research an important part of many businesses.

The tools of operations research are similar to those of other fields relying heavily on quantitative analysis and statistics. Operational data is input into programs such as Microsoft Excel and Solver, R, and Python, where mathematical optimization techniques such as linear programming (LP) are applied to find the best solution for business problems. Monte Carlo simulations and other probabilistic analyses may also be used to discover areas of sensitivity and risk.

These data-driven insights are typically applied according to process management and process improvement frameworks such as Six Sigma and Lean, which strive to reduce variation and eliminate waste in operations.

Operations research is a core competency of careers in operations management, supply chain management, and logistics. This skill is particularly highly valued by businesses in manufacturing, transportation, healthcare, and other industries where companies must compete to deliver goods and services with complex supply chains in cost-sensitive markets.

According to the Bureau of Labor Statistics, operations research analysts earned a median annual salary of $84,810 in 2019. These jobs are also expected to grow much faster than jobs in the rest of the economy, due to the explosive growth in the availability of operations data along with the increasing importance of adopting these data-driven approaches to remain competitive in many industries. Operations research analysts typically have at least a bachelor’s degree in technical and quantitative fields such as engineering, computer science, analytics, or mathematics, as few schools offer degrees in operations research specifically.

Certainly. Coursera offers courses and Specializations on operations research and related topics such as supply chain and operations management, operational analytics, and statistical research. Offered by excellent schools such as the University of Pennsylvania, the University of Melbourne, and Rutgers the State University of New Jersey, these courses give you the opportunity to learn remotely on a flexible schedule and a lower tuition than on-campus students. Whether you’re a student or mid-career professional looking to add new skills to your repertoire, Coursera gives you the opportunity to optimize your operations research education to fit your specific needs.