<p>Alas, there is great confusion about the major titles in this field. There are several that overlap signficiantly.</p>
<p>Operations Research is about optimization of decision-making, using a wide range of computer and mathematical tools. The decision-making is broadly defined, and <em>might</em> include the industrial sector.</p>
<p>Industrial engineering is about design of processes throughout the industrial sector. This can be manufacturing, but it could also include service or transportation sector stuff. UPS is a great example of IE needs in a non-manufacturing industrial sector.</p>
<p>Systems engineering is about building the right system (as opposed to building the system right). It includes OR-type decision theory, but also a lot of hardware and interface design. Often systems engineering is taken to mean the InfoTech area–computers and software. But, the major will help you work in a wide range of areas. Anything that builds large, complex systems.</p>
<p>Every university program is a little different. Some combine: IE/OR. OR/SE. etc. It boils down to the interests and experience of the faculty. Some schools have a heavy ‘manufacturing’ flavor. Others are more oriented toward government decision-making. There are tons of niche programs in this field, such as aviation operations research. </p>
<p>How in demand is OR? (My degree is in OR, so I always direct my answers there…) Well, check out the website salary.com. OR analysts earn more than most engineers in most markets, when experience is equal. That’s your market signal (as opposed to the government’s Department of Labor, which is the ‘command economy’ signal). I can attest to the fact that the salary.com numbers are right.</p>