The classes can be more than 15 depending upon the total number of observations in the data and the details required, but they should not be less than 5 because, in this case, the classification may not reveal the essential characteristics. […]
Data classification is the process of organising data into appropriate categories for optimal use. It helps in locating and recovering data quickly. In terms of security, compliance, and risk management, this procedure is vital. […]
Broadly, the data can be classified on the following basis namely: 1. Geographical or Spatial Classification, 2. Chronological or temporal Classification […]
This step includes activities like conferences, site visit, research, observation etc. These activities give sufficient information and support to define the problem. […]
O.R. techniques provide a solution only when all the elements related to a problem can be quantified. Factors that cannot be quantified find no place in O.R. models. […]
The advantages of OR study approach in business and management decision making may be classified as follows… […]
The decisions are taken simply by common sense, judgment and expertise without using any mathematical or any other model in simple situations. […]
It should express the relations and interrelations of action and reaction of cause and effect in operational situations. […]
Advantages and Disadvantages of Model in Operation Research are as follows: It describes a problem much more … […]
Some mathematical models may be so complex that it is impossible to solve them by any of the available optimizations… […]
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