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Kumar will deliver a presentation titled “Price Learning and Optimization for Airline Revenue Management.” Airlines are actively evaluating class-free demand control structures for dynamic pricing and how to manage uncertain demand distributions. Kumar will present key challenges and evaluate dynamic pricing algorithms that incorporate learning as part of the optimization to help improve revenue performance.
Wang’s presentation – “Overbooking Under Dynamic and Static Policies for the Network” – evaluates the important elements of revenue management and dynamic pricing science for airlines. Today, carriers still apply static approaches to overbooking and cancellation, and Wang will simulate model comparisons using both dynamic and static network policies. He will evaluate both no-show and cancellation refunds for airline seating classes and the impact on profitability.
“New modern commerce strategies are enabling airlines with opportunities
to deliver personalized travel recommendations based on each customer’s
travel history, profiles and preferences,” said PROS Senior Vice
President of Science and User Experience
IFORS comprises 50 national societies that focus on the exchange of operational research between nationals, maintaining competence standards and encouraging the teaching of operational research.
This press release contains forward-looking statements, including
statements about the functionality and benefits of revenue, profit
realization and modern commerce software to organizations generally as
well as the functionality and benefits of PROS software products. The
forward-looking statements contained in this press release are based
upon PROS historical experience with revenue, profit realization and
modern commerce software and its current expectations of the benefits of
revenue, profit realization and modern commerce software for
organizations that implement and utilize such software. Factors that
could cause actual results to differ materially from those described
herein include the addressability of an organization’s revenue, profit
realization and modern commerce software needs, the risks associated
with PROS developing and enhancing products with the functionality
necessary to deliver the stated results and the risks associated with
the complex implementation and maintenance of revenue, profit
realization and modern commerce software such as PROS software products.
Additional information relating to the uncertainty affecting the PROS
business is contained in PROS filings with the
Yvonne Donaldson, 713.335.5310