Revenue Management

Catalog description

This course will focus on the theories and applications of data techniques to analyze demand models, and use optimization techniques to inform strategic decision making upon pricing and revenue management problems. The key ingredients of the class include the use of sophisticated data and optimization tools towards: - Mastering static and dynamic demand models - Understanding consumer choice behaviors - Understanding and formulating firm policies based on price response - Creating optimization toolkits for organizational decision making - Understanding and formulating competitive response The course is "tools agnostic" - you are welcome to use any of the available software packages (like MS Excel, Stata, SPSS) and programming languages (like R, Python or Matlab). Offered as OPMT 491 and SCMG 491 . Prereq: ( SCMG 433 or BUAI 433 or MBAC 511 or MBAP 403 or OPRE 207 ) and ( SCMG 406 or BUAI 406B or MBAP 408 or OPRE 301 or MBAC 507 ).