Authored on: Nov 05, 2013
Download Optimization is unique simply by being the mathematical discipline focused on efficiency. Along with statistics and predictive analytics, it is one of the two mathematical disciplines used most frequently in the world of business. It applies mathematics and logic to the pursuit of objective efficiency. It does not concern itself with probability or attempt to predict the future by looking at what happened in the past. It takes facts - costs and yields, available resources and demand, goals and constraints - and finds the best possible plan or schedule of activities using mathematics and logic. And this is why the Institute for Operations Research and the Management Sciences (INFORMS) calls OR/MS the "Science of Better."