Officially simulation falls under the banner of Operational Research or sometimes Management Science. Two terms that I believe convey absolutely nothing about what we do or the value we deliver.

I’ve welcomed the rise (more like onslaught, everywhere I turn I’m confronted with) the term Advanced Analytics.  It goes much further to explain that the tools operational research bring to the table help you analyze your business in a highly sophisticated way that brings in depth understanding and evidence based decision making with reduced risk (even in paradise there is a little risk!).

I don’t appear to be alone in this thinking. Many of the professional OR bodies I belong to are starting discussions about whether to rebrand as advanced analytics. I’ve decided to make the change. The next dinner party I go to, when asked what I do, I’m going to say advanced business analytics. I’m hoping that sounds exciting enough to make people ask me more, rather than just move onto the next person because operational research is never going to be an interesting conversation!

If you want to read more about advanced analytics check out the Informs Analytics Magazine, it’s free and an interesting read. Informs is the US operational research society, worth taking a look at if you want to get more involved in the operational research community.

p.s. Happy Halloween!