Answer:
The basic question that comes to the mind is what is the importance of OR. Is knowledge of OR techniques really required? Can’t we do away with the OR techniques in our decision making process?
The answer to all these questions is quite simple and lies in the understanding of the significance of OR. We have to know about different OR techniques because of the following reasons.
- The problem may be complex for which normal guess does not work. Or techniques help in arriving at a feasible solution to the problem that too with full analysis and research.
- The problem is very important and no lethargy on part of the decision-maker can be entertained. In such a situation also, OR comes to rescue. OR methodologies are so detailed and meticulous that even a little scope for leaving a point unattended is unaffordable.
- The problem is new and no precedence exists to facilitate logical and intelligent decision making of the problem. In this situation, OR comes to the rescue of analysts and the reason for this is that OR has a large pool of techniques that aid to solve even new and unthought- of problems.
- The problem is repetitive and a model may be developed to enhance faster and better decisions. Again OR helps like nothing else to aid the analysts in such a situation by offering either a readymade model, or a readymade process to develop such a model and pacify the decision making process.
