Hi deucebigalow,
First off, a 650/Q47 is a strong score (it's right around the 80th percentile overall), so it could be enough to get you into your first-choice School. As such, a retest might not be necessary. Depending on the Schools you plan to apply to, you would likely find it beneficial to speak with an Admissions Expert about your overall profile. There's a Forum full of them here:
https://gmatclub.com/forum/ask-admission ... tants-124/That having been said, you're closer to a 700+ than you probably realize, but you'll have to make some fundamental changes to how you 'see' (and respond to) the GMAT to get to that score level. GMAC has publicly stated that the Official Score that you earn on Test Day is within +/- 30 points of actual ability. Your 2 Official Scores show that you essentially performed the same each time (about 640 +/- a few points), which means that "your way" of handling the GMAT will likely continue to earn you a score at this general level.
Before I can offer you the specific advice that you’re looking for, it would help if you could provide a bit more information on how you've been studying and your goals:
1) How long have you studied?
2) When are you planning to apply to Business School?
3) What Schools are you planning to apply to?
4) Going forward, how many hours do you think you can consistently study each week?
GMAT assassins aren't born, they're made,
Rich