Operations Research Analysts

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About the Job

Formulate and apply mathematical modeling and other optimizing methods to develop and interpret information that assists management with decision making, policy formulation, or other managerial functions. May collect and analyze data and develop decision support software, service, or products. May develop and supply optimal time, cost, or logistics networks for program evaluation, review, or implementation.

It is also Called

  • Analyst
  • Analytical Strategist
  • Business Analytics Director
  • Business Insight and Analytics Manager
  • Business Operations Analyst
  • Business Process Analyst
  • Decision Analyst
  • File System Installer
  • Forms Analyst
  • Liaison Planner

What They Do

  • Formulate mathematical or simulation models of problems, relating constants and variables, restrictions, alternatives, conflicting objectives, and their numerical parameters.
  • Collaborate with senior managers and decision makers to identify and solve a variety of problems and to clarify management objectives.
  • Collaborate with others in the organization to ensure successful implementation of chosen problem solutions.
  • Prepare management reports defining and evaluating problems and recommending solutions.
  • Study and analyze information about alternative courses of action to determine which plan will offer the best outcomes.
  • Specify manipulative or computational methods to be applied to models.
  • Perform validation and testing of models to ensure adequacy and reformulate models as necessary.
  • Define data requirements and gather and validate information, applying judgment and statistical tests.
  • Analyze information obtained from management to conceptualize and define operational problems.
  • Observe the current system in operation and gather and analyze information about each of the parts of component problems, using a variety of sources.

Interests

People who work in this occupation generally have the interest code: ICE.

This means people who work in this occupation generally have Investigative interests, but also prefer Conventional and Enterprising environments.

Work Values

People who work in this occupation generally prize Achievement, but also value Independence and Working Conditions in their jobs.

Things They Need to Know

  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Engineering and Technology - Knowledge of the practical application of engineering science and technology. This includes applying principles, techniques, procedures, and equipment to the design and production of various goods and services.
  • Production and Processing - Knowledge of raw materials, production processes, quality control, costs, and other techniques for maximizing the effective manufacture and distribution of goods.

Things They Need to Be Able to Do

  • Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  • Mathematics - Using mathematics to solve problems.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.

Education Required

Most of these occupations require graduate school. For example, they may require a master's degree, and some require a Ph.D., M.D., or J.D. (law degree).

LMI Region

Wages

In 2013, the average annual wage in New Jersey was $113,570 with most people making between $66,830 and $172,270

Outlook

During 2008, this occupation employed approximately 1,150 people in New Jersey. It is projected that there will be 1,200 employed in 2018.

This occupation will have approximately 40 job openings annually.