This has 3 distinct meanings related to IT elementary school:
(1) Operations (also Ops or IT Ops) is an organisations function that manages and maintain its IT systems and infrastructure to support and enable its business goals. See IT element Operations
(2) In wider business terms, Operations are the day-to-day, non-project, things that an organisation does to create products and provide services. Notionally these are tasks that add value by transforming resources or data into the outputs, goods or services that a Customer desires.
(3) In maths, operations act on numbers or variables to transform them, e.g. division, addition or exponentiation