Operations Research Analyst Career Description
Every organization faces a constraint of resources – man, machinery, time, money, etc. The need of each of these varies between organizations and between sectors. The amount of investment to be made in each of these resources is dealt by an Operations research analyst. An Operations research analyst can be employed in any kind of organization. They are expert at using mathematical and statistical models and techniques to find solutions to organizational issues like right resource allocation, balancing time and money, inventory control, sales forecasting, scheduling, maximising revenues or profits and minimizing costs. All these critical issues are represented through mathematical simulation mostly in the excel format and then solving them through excel tools available in MS Office.
Operations Research Analyst Job Career Description
- Candidates who want to become an Operations research analyst should have expert knowledge in Operations Research or Management Science. This knowledge can be gained through MBA in any stream particularly Operations or Finance, or having a master degree in Mathematics or Statistics.
- An Operations research analyst should know what the given inputs are, frame the organizational problem into variables and constraints, make a mathematical model, and solve it through MS Excel tools.
- The Operations research analyst should know the objectives of the firm and appropriate set the solver or what-if analysis parameters in the solution tools.
- The outputs of the solution should be shared with the top management of the firm for discussing and gained approval before proceeding to implement them in the firm.
Operations Research Analyst Career Salary
Candidates who are trained to become operations research analyst will find many job openings in sectors like aerospace and defence, national defence, management consulting, financial services, Information Technology (IT) Services, etc. To become operations research analyst, candidates who have at least 2-3 years of experience are preferred. According to the salary estimates by National Salary data and released by Pay Scale, the salary of an operations research analyst is in the range of $36,000 to $105,000 per year with the median salary being $75,000 per year.
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