How to Build an ORSA on a Shoestring, and Why It Is Important
Source: MCL & Associates
Operations Research and Statistical Analysis (ORSA) has been an established profession for over 50 years. It is the discipline of applying advanced analytical methods and mathematical models to improve the knowledge of and design more useful, efficient systems. The modern field of Operations Research (OR) is generally acknowledged to have its roots in the events of World War II, where problems of probability were applied to war effort questions. Traditionally OR has attracted detailed and mathematical oriented individuals from a variety of business and technical fields.