Focus on Stochastics and Operations Research in the master's program in Applied Mathematics

Stochastics and statistics are used in almost all industries. Whether you are dealing with the effect of drugs, developments on the financial market, insurance, big data, e-commerce or market research - statistics are everywhere.

In everyday life, we are constantly surrounded by statistics and projections. Especially in the current Corona pandemic, we are presented with new incidence rates and simulations every day. Mastering the tools of statistics enables us to classify these things, to judge their reliability and to maintain a neutral scientific attitude towards heated topics.

Only with statistical tools is it possible to draw truly meaningful conclusions from large volumes of data that accumulate in many areas of business and science and to develop strategies to optimize processes.

People with statistical know-how and knowledge of statistical software are sought-after employees in almost every industry!

Operations research is mainly concerned with business issues for which optimal solutions are to be calculated with the help of mathematical models and methods. Known applications are for example

  • the calculation of shortest paths (e.g. navigation devices),
  • the planning of delivery tours (e.g. parcel services) or also
  • the optimization of personnel schedules.

The central tasks are the representation of the problem as a mathematical model, its solution by means of mathematical optimization algorithms and the interpretation and evaluation of the computational results (here again statistics comes into play). In this context, the use of special software is particularly important in order to be able to calculate Operations Research models, which can consist of thousands of variables and equations, with computer support.

Examples for master theses in the field of Operations Research and Stochastics

  • Waste Optimization in the Paper Industry: Model Formulations of Real Problems and Exact Solution Methods
  • Exact Methods and Heuristic Approaches for Setup Minimization of One-Dimensional Cutting Stock Problem
  • Algorithms for the solution of the 2-median problem on graphs of large dimensions
  • Characterization of Closed Multi-product Queueing Networks with Batch Processing
  • Analysis of Adversarial Examples with Layerwise Relevance Propagation
  • Modeling Congestion Propagation with Queueing Models