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Operations Research (OR)

Operations Research (OR)

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Operations Research (OR)

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  1. Taxonomy of Analytical Fields of Study Operations Research (OR) Management Science (MS); Decision Science (DSc) Operations Management Business Analysis/ Business Analytics Quality Assurance Project Management Risk Management Marketing Research Financial Analysis Systems Analysis Operational Planning Supply Chain Management

  2. Business Analysis • The mission of Business Analysis is to prepare professionals for analytically oriented careers in business and to take on leadership roles in information analysis. • Business Analysis (corporate term Business Analytics) is a set of tools, techniques, and methodologies that support the translation of data assets into "actionable" (useful for decision-making) information. • The major is grounded in the functional areas of business and complemented by statistical and management science modeling techniques, including data analysis, business modeling, decision support systems, as well as project management techniques.

  3. Operations Management (OM) • The design and operation of processes & systems aimed at providing competitive goods and services to the marketplace • Transformation process of converting inputs…materials, labor, and capital into outputs…goodsand services • Series of activities along a value chain extending from supplier to customer • Responsible for the core competencies that a company derives its competitive advantage • Focused on improvement in operational effectiveness, including cost, quality, flexibility, speed and dependability

  4. Business Analysis/OM in the News • New Sarbanes-Oxley financial reporting regulations (accountability law) • U.S. mergers and acquisitions market “heating up” (e.g., K-Mart/Sears, Sprint/Nextel) • Growing information technology related features to consumer products (autos, cell phones,hand-held computers) • Need to take the guesswork out of marketing/advertising spending - data mining being used to to determine what actually works, what is cost effective, and how to reach consumers (e.g., Home Depot)

  5. Business Analysis/OM in the News • Explosion of data availability (e.g., UTC codes on grocery products) • Use of supercomputers to “simulate” the birth of stars, the human genome, climate trends, as well as in the design of consumer products, such as automobiles, chemicals, drugs and baby diapers! • Popularity of Six Sigma to increase the bottom line through continuous improvement of operational processes and doing things right the first time • Credit being given to data analysis for success of organizations (e.g., General Electric, Boston Red Sox)

  6. Business Analysis/OM in the News • Some Specific Examples • P&G uses supercomputers to engineer the superabsorbent material in its baby diapers • Home Depot has a proprietary computer model that correlates marketing investments with product sales • Nielsen diary panels of 70,000 consumers to obtain exposure to electronically coded TV and radio in 2005 • The Boston Red Sox has a proprietary futures trading system for mining baseball stars to find undervalued players while avoiding long contracts for aging stars

  7. Business Analysis/ Operations Management GSU Degree Programs • BBA in Managerial Sciences - Business Analysis track • BBA in Managerial Sciences - Operations Management track • MBA Concentration in Business Analysis • MBA Concentration in Operations Management • Master of Science - Business Analysis Concentration • Master of Science - Operations Management Concentration • Doctor of Philosophy in Decision Sciences

  8. BBA in Managerial Sciences: Business Analysis Track • MGS 4020 Business Intelligence • MGS 4110 Analysis of Business Data • MGS 4140 Business Modeling • One MGS Elective BBA in Managerial Sciences: Operations Management Track • MGS 4730 Project Management • MGS 4740 Operations Strategy • MGS 4140 Total Quality Management • One MGS Elective