Operations research analysts work with an organization to help improve its overall business operations. They create mathematical models to examine data that helps a business improve its efficiency, asset management, policies and operational decision-making.
Florida Tech's master's in operations research degree is one of the few in the nation. With a strong emphasis on mathematics and stochastic theory, this interdisciplinary field overlaps mathematics with other disciplines such as industrial design and operations management. Students tailor their degree to their particular interests and career path. In addition to the master's in operations research, Florida Tech also offers a doctoral program in the field.
Since its inception, the concept of operations research has been widely applied by industry and government in making decisions about the use of resources and in solving problems involving complex design, allocation, planning and logistics. Graduate students interested in a master's in operations research are trained to use mathematical computer modeling, simulation tests and optimization to forecast the implications of various business management choices and identify the best possible alternatives.
Florida Tech has educated NASA scientists, CEOs of Fortune 500 companies and highly decorated military generals using rigorous curriculum and robust research experiences. Students in the master's in operations research program prepare for their careers using the latest body of knowledge in the industry and excellent research facilities to conduct state-of-the-art research.
Small class sizes allow for individualized attention and collaborative research opportunities not only with fellow graduate students, but also with undergrads, faculty and local experts. Florida Tech operations research professors are involved in various interdisciplinary research projects and collaborate with professionals in medicine, computer science, engineering and life sciences. Students in the master's in operations research program are encouraged to publish their research findings in reputable journals, as well as present and attend seminars to further enhance their experience. The curriculum is constructed of course study in:
Deterministic operations research models
Stochastic operations research models
Applied statistical analysis
Theory of stochastic processes
Numerical linear algebra
Discrete system simulation
As a leading research university, students choosing Florida Tech for an operations research master's degree in operations research have a chance to study at an institution committed to developing leaders for a diverse cultural global marketplace.
Jobs demanding leaders who are able to craft solutions for complex business issues rely on trained graduates who hold subject matter expertise and the ability to research new solutions. As one of just a few universities with a master's degree in operations research, graduate from Florida Tech develop unique skills to offer an employer.
Expert professors with extensive industry experience is another reason students find attending Florida Tech so valuable. Graduate students experience close mentorship with professors, while benefitting from the quality curriculum, extensive research opportunities, internships, assistantships and unique program offerings that they might expect from a larger university. Professors in the operations research master's degree program are involved in various research projects, collaborating with students as well as experts in the field. Bringing their lifetime of experience to the classroom, professors provide students with insight that can be applied in the real world.
Graduate students in the master's in operations research program participate in interdisciplinary projects involving optimization and optimal control, stochastic models, inverse problems in modeling, image processing, data mining, game theory, financial mathematics and statistics. Under the supervision of a faculty advisor, students are given the opportunity to mentor undergraduate students through a senior design project, participate in consulting projects for various local companies, get involved in funded research projects as research assistants and participate in an internship or teaching assistantship.
Master degree candidates participate in many research experiences including final course projects and interdisciplinary team projects that involve optimization and optimal control, stochastic models, inverse problems in modeling, image processing, data mining, game theory, financial mathematics and statistics. Students are encouraged to participate in consulting projects and when applicable, funded research assistant positions.
Florida Tech's research university status ensures that operations research master's degree students have the tools and facilities they need to conduct research in their preferred area of operations research. Florida Tech's advanced research centers and laboratories are home to essential equipment and software such as Xpress Optimization Suite, Mathematica, MATLAB, Sage Mathematics Software and NIH-Image.
The operations research lab gives students earning a master's in operations research access to a high-tech learning and research environment, equipped with a SmartBoard, laser printer, high-resolution camera and cutting-edge software packages.
Florida Tech challenges students to become thought leaders who pave the way to success for the organizations they lead. Graduates with a master's degree in operations research are working for government organizations and corporations such as Harris Corp., Piper, Federal Aviation Administration and Northrop Grumman. Operations research career paths include finance and insurance, computer systems, manufacturing, education, healthcare, state and local government and private business.
Through a variety of research opportunities, students develop proficiency in operations research approaches to analyze and solve problems such as the ones they might face in the workplace. Learning to apply curriculum knowledge and research methods to business environments includes scenarios such as:
Core research models, analysis and simulations that develop this level of advanced expertise for operations research include:
In addition to the final projects in core courses, students participate in interdisciplinary projects involving optimization and optimal control, stochastic models, inverse problems in modeling, image processing, data mining, game theory, financial mathematics and statistics.
Graduate students are encouraged to publish the findings of their operations research in respected journals including:
Conferences also offer learning opportunities including INFORMS (Institute for Management Science and OR) and SIAM (Society for Industrial & Applied Mathematics).
Eligible students are offered graduate student assistantships and teach various levels of undergraduate classes. Students also investigate internship opportunities to work as operations research analysts with different companies in finance, pharmaceuticals, insurance, government, or aircraft manufacturing.
Individuals interested in a pivotal role in the operation of government organizations or corporations are well prepared for any number of careers in operations research with a master's degree from Florida Tech. Careers in operations research exist in many sectors of the economy including finance, insurance, computer systems design, manufacturing, state and local government, education, healthcare and the military.
Careers in operations management are involved in all aspects of an organization. These experts help managers make integral decision on allocating resources, developing production schedules, managing supply chains, and setting prices. Using sophisticated computer software, databases of information, statistical programs and modeling packages, these individuals analyze and solve the challenges associated with integrated corporate functions. Because there is more than one way to solve a problem, analysts work daily to weigh the costs and benefits of any number of solutions or approaches in their recommendations to managers.
The Occupational Outlook Handbook, published by the United States Department of Labor, Bureau of Labor Statistics (BLS), provides detailed information about hundreds of occupations, including, entry-level education, overall working environment and employment prospects.
According to the Bureau, employment for operations research analysts is projected to grow 27 percent through 2022, much faster than other occupations. As technology advances and companies seek efficiency and cost savings, demand for operations research analysts should continue to grow. Similar careers in interdisciplinary science as well as related careers including economics, logistics and statistics are all expected to have high job growth. Check the handbook on this and many similar career options.
• State Government Analyst
• Cost Analyst
• Business Systems Analyst
• Healthcare Analyst
• Procurement Officer
• Policy Analyst
• Data & Systems Analyst
• Finance Analyst
• Strategic Growth Analyst
• Human Resources Analyst
According to the Bureau of Labor Statistics, the median annual salary for operations research analysts was $72,100, with entry-level salaries averaging $40,500. Operations research analysts working in certain industries earned substantially more on average including finance, technology, healthcare and government. Those working for securities and commodities brokers earned $117,380 per year on average, while those working in the federal executive branch of government earned $108,460 per year on average.