There’s a Plenty of Room at the Top!
Revenue Management also known as yield management is rapidly growing field in various capacity constraint service domains such as hotels, airlines, logistics etc. It has impelled Mudransh Analytics(www.mudransh.com) to provide sophisticated and comprehensive RM solutions using mathematical techniques and domain knowledge of various industry experts.
Revenue Management (RM) is a process of selling the right inventory to the right customer at the right time and for the right price to maximize revenue.
Opportunities for Revenue Management arise when
RM combines knowledge about market segmentation for pricing along with advanced statistical analysis to increase average revenue per unit of available capacity. It maximizes revenue by:
Various hotels such as Intercontinental Hotels Group (IHG), Carlson, Hyatt have successfully implemented Revenue Management systems.
Mudransh Analytics is dedicated to provide consultancy services and software solutions in the rapidly growing area of Revenue Management for a seller of a product or service by addressing fundamental selling decisions:
Mudransh Analytics focus on delivering value through services and solutions based on
It uses distinguished techniques like Decision Tree, Scanty Data Modelling, Extreme Event Modeling, Garch, ANN, ARIMA. It has expertise in standard tools such as SAS, SPSS, R, CART, MATLAB, Ilog.
Applications of RM
Following are some of the industries which use RM:
Very large diversity in the types and operations of hotels results into variations in RM practices. They maximize average revenue per unit of available capacity. IHG is the first large scale enterprise implementation of price optimization in the hospitality industry.
RM is implemented in hotels as follow:
Typical Hotel Revenue Management System is designed as shown: