|By Business Wire||
|October 7, 2013 09:48 AM EDT||
Dr. Jon Higbie, a partner at Revenue Analytics, Inc., chaired a session on Big Data Analytics at the 2013 Institute for Operations Research and the Management Sciences (INFORMS) Annual Meeting in Minneapolis, Minnesota.
The INFORMS Annual Meeting is designed to bring together Operations Research experts from industry, academia and government to discuss advanced analytics research and practice. The session was held October 6, 2013 at the Minneapolis Convention Center.
The panel session, entitled “Big Data Analytics Case Studies in Pricing and Revenue Management,” featured presentations from InterContinental Hotels Group, Mailchimp.com, Google and Revenue Analytics, Inc. which provided practical illustrations of how Big Data can be converted into actionable insights.
Anand Srinivasan, Consultant at Revenue Analytics, delivered a presentation co-authored with Dr. Higbie entitled, Big Data Means Nothing Without Big Data Analytics. “Big Data is defined by huge Volumes, Variety and Velocity,” according to Mr. Srinivasan. “But it is critical that each application of Big Data scale the Volume, Velocity and Variety based on the specific business problem and execution capabilities of the organization.”
“The highest impact of Big Data is forecasting customer behavior and optimizing the price and availability of your products,” remarked Dr. Higbie. “Today you heard examples of companies practicing Revenue Management who are using Big Data sources like competitive offers, total market size, social media and other disparate data gleaned from the web to understand and predict customer demand.”
Copies of Revenue Analytics’ presentation, co-authored by Dr. Jon Higbie and Anand Srinivasan, may be obtained from Revenue Analytics, Inc.
About Revenue Analytics
Revenue Analytics is the world’s leading consulting firm in designing visionary capabilities in Pricing and Revenue Management. Revenue Analytics partners with clients to create elegant solutions that deliver high impact results. The firm’s principals have successfully facilitated more than 100 previous clients uncovering over $10 billion in additional revenues. For more information, visit www.revenueanalytics.com.