Learn how to maximize your company's profits through dynamic pricing strategies and analytics October 2-3 at the third annual Revenue Management and Price Optimization Conference, held by Georgia Tech College of Management and Revenue Analytics. For years, revenue management was chiefly the province of the hospitality industry and airlines, with leisure travelers booking early paying much less than business travelers willing to pay more for last-minute reservations. Now a wide range of businesses are employing dynamic pricing strategies in increasingly scientific ways, including automakers, retailers, banks, and many other non-traditional users.
The theme of this year's conference, "Revenue Management and the Analytics Explosion," addresses the tremendous growth in the use of revenue analytics to understand, predict, and manage customer demand.
"There are many nontraditional users of revenue management who are just starting to experiment with tools to figure out how to apply revenue management in their industries," explains Mark Ferguson, associate professor of operations management at Georgia Tech and the conference co-chair. "The conference offers tremendous opportunities for the companies in these nontraditional industries that are willing to learn from the more traditional users."
Explaining how revenue management and analytics changed their companies, the conference's keynote speakers will include Jim Whitehurst, COO of Delta Air Lines; Rick Campana, vice president of corporate marketing for United Parcel Service; and Chuck Neville, executive finance director at General Motors Service and Parts Operations.
"Historically, we struggled with understanding the impact of our price changes on customer buying patterns and relied on long-held beliefs, intuition, and opinions," says GM's Neville. "Recently, we've embarked on a path that uses rigorous data analysis to fine tune our pricing at a granular level, allowing us to modify pricing and promotions to enhance revenue and profitability."
Held at the Georgia Tech Global Learning Center, the first day of the conference includes panel sessions, breakout sessions, and keynote lectures from 9 AM to 5 PM. The next day consists of workshops from 9 AM to 4:30 PM, held at Georgia Tech College of Management's Huang Executive Education Center. Attendees can register to attend both days or either of the individual days.
Organizers say that those who will benefit greatly from the conference include business leaders in transportation and distribution, discrete manufacturing, travel and hospitality, real estate leasing, and retail as well as researchers and service providers.
Attendees will learn how to:
• Use the latest techniques in revenue management and price optimization to outmaneuver competitors and drive profitable growth.
• Use analytics to understand, predict, and manage customer demand.
• Convert analysis into predictive solutions that enhance revenue and profit.
• Use analytics to generate greater visibility across the entire value chain.
• Use revenue management and price optimization to create maximum shareholder value at minimum cost.
"Revenue management and price optimization are powerful frameworks for extracting the maximum value for each product sold," says Robert G. Cross, chairman and CEO of Revenue Analytics and conference co-chair.
For more information on the agenda and registration options, visit the conference Website
or contact Mark Ferguson at 404-894-4330 or
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