Edited By Darryl S.
Review & Contribution By Dr. Jay Connell
Operations Research (OR), or Decision Science or Operations Analysis, profoundly impacts industries and society. This mathematical branch employs analytical methods for effective problem-solving and decision-making in organizational management, deconstructing problems into fundamental elements and resolving them through mathematical analysis. Originating during World War II, OR’s application extends to post-war problem-solving in business, government, and society, offering a robust approach with comprehensive dataset utilization, holistic option assessment, precise outcome prediction, and risk estimation. According to the Bureau of Labor Statistics, with a projected 23% growth in employment for operations research analysts from 2022 to 2032[1], favorable career prospects await graduates.
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The Best Operations Research Master’s Online
Operations research master’s programs are popular among students. However, there are not a whole of universities that offer these degrees in an online format. While these degrees are mostly offered on campus, some universities offer them online. We collected a list of such universities that ranked based on the program quality, graduation rates, tuition fees, student success, and many other factors. Based on this research and methodology, here are the best operation research master’s online programs:
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| College Name & Address | Tuition | Graduation Rate |
|---|---|---|
| #1 University of Southern California University Park, Los Angeles, California 90089 | $63,468 | 92% |
| #2 Georgia Institute of Technology 225 North Ave, Atlanta, Georgia 30332 | $14,064 | 93% |
| #3 Cornell University 300 Day Hall, Ithaca, New York 14853 | $29,500 | 95% |
| #4 Florida Institute of Technology 150 West University Boulevard, Melbourne, Florida 32901 | $22,338 | 67% |
| #5 Kansas State University 919 Mid-Campus Drive, Anderson Hall, Manhattan, Kansas 66506 | $10,294 | 69% |
| #6 Columbia University in the City of New York West 116 St and Broadway, New York, New York 10027 | $52,016 | 95% |
| #7 Purdue University Global 2550 Northwestern Avenue, Suite 1100, West Lafayette, Indiana 47906 | $9,472 | 20% |
| #8 North Carolina State University at Raleigh 2101 Hillsborough Street, Raleigh, North Carolina 27695 | $9,095 | 85% |
| #9 Southern Methodist University 6425 Boaz St, Dallas, Texas 75275 | $31,590 | 82% |
| #10 George Mason University 4400 University Dr, Fairfax, Virginia 22030 | $13,426 | 71% |
Source – Integrated Post Secondary Education Data System & University Data
*Tuition rates are for in-state and per year. Program specific rates may apply.
**NA – data not available
What Operations Research Master’s Online Entail
Online Master’s in Operations Research programs offer advanced coursework in mathematical modeling, optimization, and data analysis to equip students with skills to solve complex business and engineering problems. The curriculum typically covers linear and nonlinear programming, probability, simulation, and decision analysis. Students engage in practical projects, learning to apply analytical tools to real-world challenges. The programs foster critical thinking and quantitative reasoning, preparing graduates for roles in logistics, supply chain management, finance, and consulting and opportunities in various industries to enhance efficiency and make informed decisions using data-driven approaches.
Curriculum and Skills You’ll Gain
A master’s in operations research would have common core courses for most credits. Still, per the program’s specialization, some coursework and concentration would vary. Here are a few subjects learned in a master’s in operations research online program and the skills attained:
Decision Theory:
This course delves into the study of rational decision-making under uncertainty. Students learn to evaluate choices using mathematical models and principles, incorporating concepts from probability, statistics, and economics. This knowledge equips graduates to make informed decisions in complex scenarios, enhancing their problem-solving skills for roles in diverse industries such as finance, manufacturing, and logistics.
Computer Programming:
This program teaches students essential programming skills for solving optimization and analytical problems. Through hands-on coding experience, students learn to develop algorithms, analyze data, and implement solutions using programming languages like Python and MATLAB. This proficiency empowers graduates to efficiently tackle complex real-world challenges in fields such as supply chain management, logistics, and resource allocation.
Introduction to Probability and Statistics:
This program provides a foundational understanding of key probabilistic and statistical concepts. Students learn to analyze and interpret data, make informed decisions, and model uncertainty. This knowledge equips graduates to apply quantitative methods to optimize processes, enhance efficiency, and make strategic decisions across finance, healthcare, and manufacturing.
Discrete Optimization:
This program explores techniques for solving combinatorial problems with discrete variables. Students learn to design efficient algorithms, model complex decision-making scenarios, and find optimal solutions in various fields, including logistics, telecommunications, and network design. This expertise enables graduates to streamline processes, improve resource allocation, and address real-world challenges using advanced optimization techniques.
Network Optimization:
This program focuses on analyzing and optimizing complex networks. Students learn to enhance transportation, communication, and supply chain systems through mathematical modeling and algorithms. This knowledge equips graduates to tackle challenges in industries like logistics, telecommunications, and urban planning, ensuring efficient resource utilization and effective decision-making within interconnected networks.
Skills Gained:
A Master’s in Operations Research program cultivates a versatile skill set crucial for tackling complex industry challenges. Ability to assess complex scenarios, make informed decisions, and manage risk.
A student gains several abilities from this operations research degree. Here are a few:
- Proficiency in statistical data analysis and forecasting tools.
- Skill in processing and interpreting data to extract actionable insights.
- Competence in using simulation techniques for modeling real-world systems.
- Expertise in optimizing supply chain processes for efficiency.
- Ability to forecast future trends using predictive modeling.
- Understanding and application of programming techniques for problem-solving.
- Ability to manage projects efficiently, meeting objectives and timelines.
- Enhanced critical thinking skills for problem identification and solution development.
- Effective communication of complex operational insights to diverse stakeholders.
- Resource Allocation: Skill in optimizing resource allocation for improved operational efficiency.
- Risk Management: Proficiency in assessing and mitigating risks associated with operational decisions.
Degree Types
There would typically be a few variants of an online master’s degree in OR, with a few subjects changing concerning the specialization being pursued. The core subjects, though, remain the same as the required credits, typically around 36, and the time taken to complete the course would be around 24 months. Below we will discuss the different types of master’s that can be pursued in OR.
MS in Operations Research
The Master of Science in Operations Research teaches students how to develop and solve mathematical and computer models of systems using optimization and statistical methods. This program seeks to train students in the basic techniques and theory of OR and their applications to real-world problems. Graduates should have developed analytical skills to attack complex, large-scale optimization problems of deterministic and stochastic operations research models.
MBA with Operations Research Concentration
The practice of applying analytical, quantitative decision-making techniques to management has since been adopted by virtually every leading B-school in the U.S. The study of Operations Research via the MBA route provides a decisive career advantage in which students master frameworks for building descriptive, predictive, graph theory, gain theory, and prescriptive models using tools from statistics.
MBA in Operations Management
Operations Management is concerned with planning, organizing, and supervising product and service design, development, and delivery. It provides conceptual frameworks and analytical tools to optimize key decisions in designing and managing operational processes.
Master of Industrial Engineering in Operations Research and Information Engineering
Businesses in the digital age are awash in data and hungry for skilled analysts and information scientists who can use that data to make insightful, real-time business decisions. A Master’s in OR and Information Engineering will provide students with the mathematical modeling, large-scale computation, and data analytics skills needed to turn heaps of data into effective business decisions.
Specializations for Operations Research Students
Specializations enhance expertise, allowing students to delve deeper into specific applications. This focused approach sharpens skills and provides a deep understanding, preparing students to address complex challenges and contribute effectively in fields such as logistics, finance, and strategic decision-making. Here are some specializations students pursuing a master’s degree in operations research online can opt for:
| Area of Focus | MS in Operations Research and Financial Engineering (ORFE) |
|---|---|
| Description | The ORFE program strongly emphasizes mathematical and computational tools. Students in ORFE develop unique skills that build upon a solid foundation in probability, statistics, and optimization. The theoretical foundations of ORFE are central to many complex problems in engineering and science. |
| Careers This concentration Prepares For | ORFE graduates in a broad range of application areas, such as finance, energy, health, risk analysis, biostatistics, genomics, machine learning, stochastic networks, and signal and image processing. |
| Area of Focus | MS in Computer Science – Specialization in Computational Operations Research |
|---|---|
| Description | In this concentration, students learn the implementation of mathematical simulation and models in computational research. They learn high-level simulation languages. Some subjects learned in this course work would be multivariate probability distributions, programming languages like C++/C, linear and nonlinear programming, statistical analysis, and network optimization. |
| Careers This concentration Prepares For | Research Analysts in Decision and Risk Management |
| Area of Focus | MBA in Operations Management |
|---|---|
| Description | In an MBA in OR, students learn about applying analytical, quantitative decision-making techniques to operations and management principles. Prospective students would study building descriptive, predictive, and prescriptive models, mathematical optimization techniques, data mining, and machine learning. |
| Careers This concentration Prepares For | Finance and Management, Logistics, supply chain management, etc. |
| Area of Focus | MS in Mathematics |
|---|---|
| Description | This Specialization offers in-depth expertise in mathematical modeling, optimization, and data analysis. Students acquire advanced skills to solve complex real-world problems in logistics, finance, and engineering. This specialization equips graduates to design efficient algorithms, make informed decisions, and enhance processes, positioning them for impactful roles in industries requiring analytical problem-solving. |
| Careers This concentration Prepares For | Graduates of this course can work as Operations Research Analysts, Financial Analysts, Research Scientists, etc. |
| Area of Focus | MS in Statistics |
|---|---|
| Description | This specialization equips graduates with advanced statistical techniques and optimization skills. Graduates are prepared to tackle complex business and industrial challenges, applying data analysis, modeling, and decision-making expertise. They find rewarding careers as operations research analysts, data scientists, and quantitative analysts in diverse sectors, driving efficiency and informed decision-making. |
| Careers This concentration Prepares For | Graduates of this course work in academia, research organizations, and industry as research analysts. Many graduates hold faculty positions at top universities. |
Graduation Timeline
Typical Timeline: 2 years
Credits to Completion: 30-36
Most master’s in Operations Research online typically take between 16 and 24 months. In contrast, many accelerated master’s programs require just one year of study after students have completed their bachelor’s. In doing an accelerated program, students can save money on tuition. Typically, for a master’s in operations research, students need to take 30 – 36 hours of credits.
Accelerated Operations Research Master’s Programs
Accelerated online master’s programs in operations research provide a time-efficient route for professionals aiming to enhance their careers in the ever-evolving field of operations research. These programs are structured to be completed in a shorter timeframe than traditional master’s degrees, enabling students to acquire specialized expertise and leadership abilities swiftly. With adaptable online formats, students can harmonize studies with work and other commitments while gaining invaluable insights into the latest trends and methodologies in operations research.
Before enrolling, students should thoroughly investigate whether the universities offer expedited options for their online master’s in operations research programs and ensure alignment with their career objectives and accreditation requirements. Here are examples of colleges that offer master’s in operational research programs:
Admission Requirements for Operations Research Master’s Online Programs
Though every master’s in operations research online will have a specific requirement, applicants must typically have a bachelor’s degree in operations research or a related field or have completed substantial undergraduate coursework in operations research. While GRE and GMAT test scores may be requested in some programs, it is not a universal requirement. Some universities might even require experience and employer references. These are the typical master’s in operations research prerequisites. For students looking to enroll in a master’s program, OMC has dedicated resources for GRE and GMAT.
Admission requirements for a Master’s in Operations Research may vary by institution, but common prerequisites include:
- Bachelor’s Degree: A completed undergraduate degree, often in a related field such as mathematics, engineering, computer science, or business.
- GPA: A competitive grade point average (GPA) from the undergraduate degree, typically above 3.0 on a 4.0 scale.
- Letters of Recommendation: Two to three letters of recommendation from professors or professionals who can attest to the applicant’s academic and professional capabilities.
- Statement of Purpose: A written statement outlining the applicant’s academic and career goals, as well as why they are interested in pursuing a Master’s in Operations Research.
- Resume/CV: A comprehensive resume or curriculum vitae detailing academic and professional experiences.
- Standardized Test Scores: Some programs may require GRE (Graduate Record Examination) scores, while others may accept GMAT (Graduate Management Admission Test) or waive standardized tests altogether.
- Prerequisite Courses: Completion of specific undergraduate courses in mathematics, statistics, or related subjects may be required.
- Work Experience: Some programs prefer or require applicants to have relevant work experience in operations research, analytics, or a related field.
- Interview: An admissions interview may be part of assessing the applicant’s suitability for the program.
Prospective students should check the specific admission requirements of the institutions and programs to which they plan to apply, as these can vary.
Online Master’s in Operations Research No GRE Programs
Numerous universities mandate the submission of standardized test scores like GMAT or GRE. Nevertheless, a strong GPA can sometimes exempt an applicant from this necessity, similar to having relevant work involvement in Operations Research. A selection of institutions provides online Master’s in Operations Research programs with no GRE obligation, relying solely on a commendable GPA. It is advisable to carefully peruse the University Prospectus or Program Guidelines for GMAT/GRE prerequisites before pursuing enrollment in a program. Here are a few examples of online master’s in operations research with no GRE:
John Hopkins University4
Middle Tennessee State University5
Accredited Programs
Accreditation is a vetting process wherein an institution has been evaluated by an independent accrediting body and found to meet the high standards of a rigorous education. Therefore, to ensure that the industry and fraternity recognize the degrees students are obtaining, and more importantly, to be eligible for U.S. federal student aid, one must ensure that the institution one is enrolling in is accredited by a federally recognized accreditation body. ANSI National Accreditation Board6 is one such body. ANSI typically accredits Operations Research Programs. Students should check for accreditation by ANSI for their Operations Research programs. Universities may also be accredited nationally or by one of six regional accrediting agencies:
- New England Association of Schools and Colleges (NEASC)
- Middle States Association of Colleges and Secondary Schools (MSA-CESS)
- Higher Learning Commission (HLC)
- Southern Association of Colleges and Schools Commission on Colleges (SACSCOC)
- Northwest Commission on Colleges and Universities (NWCCU)
- Western Association of Schools and Colleges (WASC) Senior College and University Commission (WSCUC)
Read more about Accreditation.
Free Operations Research Master’s Online Courses
In operations research, students can enroll in free courses to enhance their understanding of the discipline. These courses provide valuable insights into the roles and responsibilities of operations research professionals. Upon course completion, students may receive certificates of achievement, though some organizations might not acknowledge them as equivalent to formally recognized programs. Here is a selection of cost-free operations research courses for students to contemplate:
| Course | Operation Research: A course on Linear Programming Problems7 |
| Offered by | Udemy |
| Description | This course delves into the fundamentals of linear programming, equipping learners with the knowledge to formulate and solve optimization challenges. Participants gain valuable insights into real-world applications, enhancing their skills in quantitative analysis and decision-making within the field of operations research. |
| Course | Supply Chain Management and Capacity Planning8 |
| Offered by | Alison |
| Description | This course helps students comprehend Supply Chain Management and Capacity Planning through Alison’s free online program. Delve into efficient resource coordination, demand forecasting, and optimizing capacity to enhance operational efficiency and effective supply chain management, empowering learners with valuable skills applicable across various industries. |
| Course | Operations Research (1): Models and Applications9 |
| Offered by | Coursera |
| Description | This course explores operations research concepts, including optimization models and practical applications. Gain insights into decision-making processes, linear programming, and network flow problems, honing skills applicable to real-world problem-solving and informed business strategies. |
Please note that while some courses on these websites might be free, others could request a subscription. Since rules and deals can change occasionally, it is a good idea for students to look for the most recent options that fit what they’re looking for.
How to Pay for Your Online Degree
Given the current cost of education and the accompanying student debt, funding one’s online master’s in operations research is crucial. The most strategic approach is through scholarships. Working professionals who don’t qualify for scholarships can explore employer reimbursement. Alternatively, securing a student loan or checking eligibility for federal student aid are additional avenues for funding.
Scholarships and Grants serve as primary avenues for securing funding. Numerous universities provide Scholarships, often in the form of lump sums or waivers, contingent upon fulfilling specific requirements. It is essential to remain cautious of prevalent scholarship scams.
Students also can opt for the following ways to fund their master’s program:
Internships
Internships provide valuable real-world experience, allowing individuals to apply their knowledge and skills in a professional setting. They offer opportunities for learning, networking, and gaining insights into specific industries, enhancing employability and personal growth.
Graduate Assistantships
Graduate assistantships offer graduate students valuable opportunities to gain hands-on experience, assist in teaching or research, and receive financial support, often covering tuition and providing a stipend in exchange for their contributions to academic and research endeavors.
Student Loans
Student loans provide financial assistance for education, covering tuition, fees, and living expenses. Borrowed funds must be repaid, often with interest, offering students a means to pursue higher education and achieve academic goals.
Many Business Schools providing online Master’s in Operations Research programs extend financial assistance through Scholarships or Grants, aiding in offsetting educational expenses. Depending on the institution, program, and eligibility parameters, opportunities for Scholarships, Grants, and Awards are readily accessible and merit exploration. Nonetheless, vigilance against potential scholarship scams is crucial.
Scholarships for Master’s in Operations Research Online Degree Students
Scholarships for online Master’s in Operations Research degree students provide financial support, making education more accessible. They reduce the burden of tuition costs, enabling students to focus on academic excellence. To benefit, students should diligently research available scholarships, considering eligibility criteria, application deadlines, and required documentation. Thorough research maximizes the chances of securing financial assistance for their online master’s degree in Operations Research. Here are a few online master’s in operations research scholarships students can explore and apply for:
| Scholarship | INFORM Scholarships10 |
|---|---|
| Description | INFORM Scholarships provide financial assistance to students pursuing careers in operations research, analytics, and related fields. Administered by INFORMS, a leading professional society, these scholarships support academic excellence and professional development, fostering the growth of talented individuals in the operations research and analytics community. |
| Award/Amount | $1250 |
| Application Deadline | August 13, 2023, TBA for 2024 |
| Scholarship | Howard Bernstein Scholarship Fund11 |
|---|---|
| Description | The Howard Bernstein Scholarship Fund was established to support students pursuing higher education in operations research, management science, and related fields. Named after Howard Bernstein, a prominent figure in the operations research community, the fund aims to provide financial assistance and recognition to deserving individuals in these disciplines. |
| Award/Amount | Varies |
| Application Deadline | TBA for 2024 |
Career Paths and Average Salaries for Operations Research Graduates
Post a master’s in OR online, one can delve into many roles in the operations management field. This could vary from a research analyst role at an entry level to a chief strategy officer role at the top of the hierarchy. There would be other intermediary roles in between. Below is a list of roles and salaries with their responsibilities highlighted:
| Occupation | Median Annual Salary (US $) | Job Growth (2022-2032) | Job Description |
|---|---|---|---|
| Operations Research Analyst1 | $85,720 | 23% (much faster than average) | They use advanced mathematical and analytical methods to help organizations solve problems and make better decisions. |
| Management Analysts12 | $95,290 | 10% (much faster than average) | advise managers on making organizations more profitable through reduced costs and increased revenues. |
| Market Research Analysts13 | $68,230 | 13% (much faster than average) | Market research analysts study market conditions to examine potential product or service sales. They help companies understand what products people want, who will buy them, and at what price. |
| Logisticians14 | $77,520 | 18% (much faster than average) | Logisticians analyze and coordinate an organization’s supply chain—the system that moves a product from supplier to consumer. They manage a product’s entire life cycle, including how it is acquired, allocated, and delivered. |
Certifications and Licensing for Operations Research Graduates
Operations Research typically doesn’t need a certification nor a mandatory license to practice their craft. However, organizations put a lot of value on professional certifications while hiring candidates. If one has completed a master’s in OR, pursuing one of the certifications relating to their field of work or a graduate certificate in operations research would not be a bad idea. Some of these are listed below:
| Certification | Description |
|---|---|
| Certified Analytics Professional (CAP)15 | The CAP (Certified Analytics Professional) certification is a reliable and unbiased confirmation of the essential technical prowess and accompanying soft skills that proficient analytics and data science experts possess. Esteemed by organizations with an analytics focus, CAP indicates an analytics professional’s exceptional proficiency in the seven key analytics domains. This certification is a valuable tool for organizations seeking to recognize, acquire, and retain top-tier analytics professionals. It also empowers individuals to set themselves apart in the fiercely competitive landscape of modern analytics. |
| Certified Supply Chain Professional (CSCP)16 | Certified Supply Chain Professional (CSCP) is a credential validating expertise in supply chain management. Covering strategic planning, logistics, and technology, CSCP equips professionals with the skills to optimize operations, enhance efficiency, and contribute to effective supply chain strategies in various industries. |
| Certificate in Excel Functions for Data Analysts17 | This Certificate equips learners with essential Excel skills for data analysis. Explore functions, formulas, and techniques to process and interpret data efficiently. This comprehensive course enhances proficiency in Excel, empowering participants to excel in data-driven tasks and analytical roles. |
| Certification in Quantitative Finance (CQF)18 | Certification in Quantitative Finance (CQF) is a comprehensive program focusing on quantitative analysis and financial modeling. Designed for finance professionals, it enhances risk management skills, derivatives, and quantitative methods. CQF equips individuals to excel in complex financial environments and make informed decisions. |
Additional Resources for Students
A master’s in operations research is a gateway to an industry with huge potential. But to further their careers and remain relevant in this fast-paced industry, professionals can become members and accredit themselves with a professional organization in operations research. Apart from being a body that assists in developing and distributing knowledge, professional operations research association bodies keep their members informed about the newest developments and innovations. We discuss a few such organizational bodies below:
| Professional Organization | Description |
|---|---|
| The Operational Research Society19 | This professional membership body is for operations researchers, data scientists, and analysts. The OR Society is a place for development and knowledge sharing. The ever-growing community of operational researchers and analysts represents the best of the profession, providing a platform where discussion and opportunity thrive. |
| Military Operations Research Society20 | For over five decades, membership in MORS has meant a chance to contribute, a means of growth, and a sign of professionalism. Members of the Society include a cross-section of the best defense analysts, operators, and managers from government, industry, and academia. |
| The Institute for Operations Research and the Management Sciences21 | INFORMS hosts a diverse community of experts in operations research, analytics, engineering, economics, and more. The shared mission is to advance decision-making science, addressing complex challenges. Whether at the beginning of one’s journey or seasoned in a career, INFORMS membership connects individuals with peers for collaboration, learning, and growth. |
| APICS (Association for Supply Chain Management)22 | APICS (Association for Supply Chain Management) is a leading global organization dedicated to advancing supply chain and operations management. APICS empowers professionals to enhance their expertise in optimizing supply chains, improving efficiency, and driving business success across industries by offering certifications, educational programs, and events. |
FAQs About Operations Research Master’s Online Programs
Frequently Asked Questions
What is Operation research with example?
Operations research (OR) is an analytical method of problem-solving and decision-making useful in managing organizations. In operations research, problems are broken down into basic components and solved in defined steps by mathematical analysis.
Is operations research a good career?
What does an operational researcher do?
Data Science vs. Operation Research
What should I major in to become an operations research analyst?
How do I become an operation researcher?
Is Operation Research hard?
What is the average salary of someone with a master’s in operations research?
Which certification is best for operations management?
Citations:
U.S. Bureau of Labor Statistics: Occupational Outlook for Operation Research Analysts
Middle Tennessee State University
ANSI National Accreditation Board
Udemy- Operation Research: A course on Linear Programming Problems
Alison Supply Chain Management and Capacity Planning
Coursera- Operations Research (1): Models and Applications
Howard Bernstein Scholarship Fund
U.S. Bureau of Labor Statistics: Occupational Outlook for Management Analysts
U.S. Bureau of Labor Statistics: Occupational Outlook for Market Research Analysts
U.S. Bureau of Labor Statistics: Occupational Outlook for Logisticians
Certified Analytics Professional (CAP)
Certified Supply Chain Professional (CSCP)
Certificate in Excel Functions for Data Analysts
Certification in Quantitative Finance (CQF)
The Operational Research Society
Military Operations Research Society
The Institute for Operations Research and the Management Sciences
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