What Is the Importance of Business Mathematics?

By Staff WriterLast Updated Apr 14, 2020 10:38:45 PM ET

Business mathematics and analytics help organizations make data-driven decisions related to supply chains, logistics and warehousing. This was first put into practice in the 1950s by a series of industry leaders, including George Dantzig and Harold Kuhn.

Advertisement

Business mathematics strongly supports the growing trend of data analytics and business intelligence in a number of professional industries. Through leveraging this type of information, organizations can make decisions to help them operate more efficiently and also to help them reduce costs. Through things like predictive analysis, businesses can have a better idea of what their future costs look like so they can prepare to handle them.