Revenue Management and Pricing have commonly built constructs that allowed for easier computation and limited the number of data sources that could be used. As technology and availability of data increases, these processes can be enhanced to make better decisions. We will cover how revenue management and pricing have changed through the use of additional data sources and removing simplifying constructs. This leads to dynamic pricing that further enhances performance that companies are striving for. We will also cover ways to not only increase performance but also ways to lower risk and increase adoption.
About the Speaker: Ravi Kumar is a Scientist at PROS working on Offer Optimization, Revenue Management and Pricing solutions for the airline industry. His research interests include optimization under uncertainty and reinforcement learning. He holds a PhD in Operations Research from Cornell University where his research focused on stochastic Dynamic Programming and control of dynamical systems.
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