- Academic Divisions
- Decision, Risk, and Operations
- Cross-Disciplinary Areas
- Centers & Programs
The Decision, Risk, and Operations Division is a world leader in research and instruction in quantitative, data-driven decision-making through the use modeling, optimization and the management of uncertainty, and all aspects of the operations and analytics functions in firms.
Application areas in which the division has strong expertise include business analytics; e-commerce; revenue management; logistics, distribution and supply-chain management; resource networks and service systems; healthcare operations; market design; quantitative finance with emphasis on the valuation of derivative securities, modern market microstructure, and risk management; and econometrics.
An important aspect of the mission of the division is to foster collaboration with industry and impact society by solving important practical problems such as helping hospitals care for their patients in a more efficient and cost effective manner; coordination and risk mitigation in global supply chains; design of dynamic and responsive pricing algorithms in a variety of industries; creation of innovative securities trading algorithms; design of frameworks to measure systemic risk; and optimization of the operations of online marketplaces.
The division is actively involved in teaching in the MBA and PhD programs. In the MBA program, the division teaches the core courses on Managerial Statistics, Business Analytics, and Operations Management, and offers a suite of electives in various topics in Operations, Analytics, and Technology.