The Application of Management Science in Decision Making And Forecasting.

Management science can be defined as a branch of applied mathematics designated to optimal decision planning, with great bonds with economics, engineering, business, and other sciences. Management science enhances the organization’s ability to authorize meaningful management decisions by meeting optimal or nearly optimal solutions to highly complex decision tasks through the use of various strategies, scientific research-based principles, and analytical methods such as mathematical modelling, numerical algorithms, and statistics.

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