The MSc Operational Research is a 2-year full-time postgraduate study that specialize on applying the advanced methods of data analytics to choose the best operating solutions for the complex organizational problems. Students master mathematical skills such as leadership skills, decision-making, strategic thinking, negotiation, inventory management, and control of quality.
Through the extensive academic regimen, students gain grasp of the basic principles of scientific methods which they can use while exercising decision-making within various processes. The topics addressed are operational research, quantitative methods, mathematical programming, stochastic models, IT applications, supply chain optimization, etc. The Elective subjects make it possible for students to focus on their own career or hobby areas.
Detail | Description |
---|---|
Level | Master's Degree (Postgraduate) |
Duration | Typically 2 Years (4 Semesters) |
Focus | Applying advanced analytical methods to improve decision-making in organizations |
Skills Learned | Mathematical modeling, optimization, data analysis, communication, and software proficiency |
Coursework | Linear Programming, Queuing Theory, Inventory Management, Simulation Modeling, and electives |
Career Options | Operational Research Analyst, Management Consultant, Data Scientist, Business Analyst |
1. Conduct research about courses and shortlist universities you intend to apply to based on the factors such as rankings, location, tuition fees and availability of scholarships.
2. Check your eligibility against the criteria set by the universities in terms of your education qualifications and work experience or entrance examination etc. and make sure you qualify.
3. Make the necessary preparations: copies of transcripts, CV, SOP, and LORs, including English proficiency records, writing samples, and research proposals ( as required ) for each university.
4. Fill on the university online application forms, make uploads of the required documents and pay application fees respectively. Follow the instructions carefully.
5. As you plan to apply for the postgraduate programs, prepare for any entrance examination GRE, GMAT etc., and mark your score by the university before the deadline.
6. Send the papers and check the status for the application online. Respond to questions for an interview or an inquiry about the information you shared within the given timeframe.
7. Be smart and do not make any split option until you have compared all the offers for admission and financial aid from individual universities. The offer has been accepted, and you should apply for a student visa accordingly.
1. Required qualification is a bachelor's degree in mathematics, statistics, engineering, economics, or computer science which will be not below 60% marks from a recognized university. It was the fact that the highest grades were required in these quantitative subjects that made me choose the medical field over other fields.
2. First-rate mathematical skills, spectrum of topics including calculus, linear algebra, probability, and statistics. Programming skills are desirable.
3. Good verbal and written communication skills in condensing analysis into understandable interpretation of the findings. The capacity to tackle problems logically and analytically.
4. Preferable experience level 2 years in operations research, supply chain optimization, business analytics etc. (but fresh graduates can also apply).
5. Excellent score - CAT, GATE, and GMAT are some of the aggregated exams which are followed in many universities.
6. Certain universities conduct interviews to analyze the practical thinking ability, determine the subject interests and to give complex quantitative reasons clearly. Recommendation letters also help.
CAT: The CAT exam is designed to test the candidates' aptitude for the quantitative, data interpretation, and logical problems. While not MSc programs itself, it is seen as a prerequisite for such by some of the institutions where the operational research is offered.
GATE: The Graduate Aptitude Test in Engineering (GATE) is a test that measures the applicants' competence in the subjects covered at the graduate level. These include engineering courses, technology, and postgraduate courses in science and operational research.
Syllabus | Description |
---|---|
Mathematics for Operational Research: | Covers advanced mathematical concepts like linear algebra, calculus, probability theory, and statistics, providing a strong foundation for quantitative modeling. |
Optimization Techniques: | Introduces various optimization techniques such as linear programming, integer programming, nonlinear programming, and dynamic programming, equipping students with the tools to solve complex decision-making problems. |
Simulation and Modeling: | Explore simulation techniques like Monte Carlo simulation and queueing theory to model real-world systems and analyze their performance under different scenarios. |
Decision Theory and Game Theory: | Learn decision-making frameworks under uncertainty and strategic interaction between multiple parties, enabling informed decision-making in competitive environments. |
Data Analysis and Machine Learning: | Develop skills in data analysis, forecasting, and machine learning to extract valuable insights from data and make data-driven decisions. |
Operations Management: | Gain knowledge of various operations management concepts like inventory control, scheduling, and project management to optimize operational efficiency and resource allocation. |
Research Methodology and Project Work: | Develop research skills, conduct independent research projects, and present findings effectively, preparing students for further academic pursuits or professional research roles. |
Elective Courses: | Choose from a range of elective courses based on your interests and career aspirations, such as stochastic processes, network optimization, healthcare operations, and financial engineering. |
Rank | College Name | Location | Fees |
---|---|---|---|
1 | Delhi University (Stephen's College) | Delhi | INR 15,000 - INR 20,000 |
2 | Delhi University (Hansraj College) | Delhi | INR 15,000 - INR 20,000 |
3 | Indian Institute of Technology Delhi (IIT Delhi) | Delhi | INR 25,000 - INR 30,000 |
4 | Indian Institute of Technology Bombay (IIT Bombay) | Mumbai | INR 25,000 - INR 30,000 |
5 | University of Madras | Chennai | INR 15,000 - INR 20,000 |
6 | University of Mumbai | Mumbai | INR 15,000 - INR 20,000 |
7 | University of Calcutta | Kolkata | INR 10,000 - INR 15,000 |
8 | Banaras Hindu University (BHU) | Varanasi | INR 18,000 - INR 23,000 |
9 | University of Hyderabad | Hyderabad | INR 22,000 - INR 27,000 |
10 | University of Pune | Pune | INR 18,000 - INR 23,000 |
Rank | College Name | Location | Fees |
---|---|---|---|
1 | Indian Institute of Management Bangalore (IIMB) | Bangalore | INR 12.5 Lakhs - INR 15 Lakhs |
2 | Indian Institute of Management Calcutta (IIM Calcutta) | Kolkata | INR 13 Lakhs - INR 16 Lakhs |
3 | Indian Institute of Management Ahmedabad (IIMA) | Ahmedabad | INR 14 Lakhs - INR 17 Lakhs |
4 | Symbiosis Institute of Operations Management (SIOM) | Pune | INR 8 Lakhs - INR 10 Lakhs |
5 | SP Jain Institute of Management & Research (SPJIMR) | Mumbai | INR 10 Lakhs - INR 12 Lakhs |
6 | Woxsen School of Business Management | Hyderabad | INR 8 Lakhs - INR 10 Lakhs |
7 | Great Lakes Institute of Management | Chennai | INR 9 Lakhs - INR 11 Lakhs |
8 | Amity University | Noida | INR 6 Lakhs - INR 8 Lakhs |
9 | SRM Institute of Science and Technology (SRMIST) | Chennai | INR 6.5 Lakhs - INR 8.5 Lakhs |
10 | VIT University | Vellore | INR 7 Lakhs - INR 9 Lakhs |
An M.Sc. in Operational Research equips graduates with the analytical skills and problem-solving abilities sought after by leading companies across diverse industries.
Institute Name | Average CTC (INR Lakhs per annum) |
---|---|
Indian Institute of Management Bangalore (IIMB) | 25-30 |
Indian Institute of Management Calcutta (IIM Calcutta) | 22-27 |
Indian Institute of Management Ahmedabad (IIMA) | 28-32 |
Delhi University (Stephen's College) | 9-12 |
Delhi University (Hansraj College) | 8-11 |
Indian Institute of Technology Delhi (IIT Delhi) | 18-22 |
Indian Institute of Technology Bombay (IIT Bombay) | 20-25 |
University of Madras | 6-8 |
An M.Sc. in Operational Research equips graduates with the powerful combination of analytical skills, problem-solving abilities, and quantitative modeling expertise, making them highly sought after in a variety of industries.
Specialization | Job Titles | Average Salary (INR Lakhs per annum) |
---|---|---|
Data Analytics: | Data Analyst, Business Intelligence Analyst, Operations Research Analyst | 8-12 |
Finance: | Quantitative Analyst, Risk Analyst, Portfolio Manager | 10-14 |
Logistics and Supply Chain Management: | Supply Chain Analyst, Logistics Manager, Transportation Planner | 7-10 |
Manufacturing and Production: | Production Planner, Operations Manager, Quality Control Analyst | 6-9 |
Healthcare: | Healthcare Operations Analyst, Healthcare Data Analyst, Public Health Analyst | 5-8 |
Consulting: | Management Consultant, Operations Consultant, Business Analyst | 12-16 |