Data Processing and Modeling of Dynamic Pricing of Cruise Transportation Based on Revenue Management

2014 ◽  
Vol 1030-1032 ◽  
pp. 1984-1987
Author(s):  
Ya Ru Dong ◽  
Bin Jia ◽  
Dong Fan Xie
Keyword(s):  
Data Processing ◽  
Revenue Management ◽  
Dynamic Pricing ◽  
Arrival Rate ◽  
Actual Situation ◽  
Cruise Industry ◽  
Fierce Competition ◽  
The Impact

With increasingly fierce competition making price becomes important question relating to the cruise industry. Focusing primarily on three factors, customer arrival rate, ticketing remaining cycles and the remaining tickets, we further improve dynamic pricing method to the market in which we consider random factors and calculate by MATLAB to reflect the impact of three factors on pricing and revenue. It shows that the customer’s arrival rate and the price have the same monotonicity and the more the ticketing remaining cycles are, the lower the price is and the higher the revenue is, and so does the remaining tickets, which is accordance with the actual situation.

Choice-Based Dynamic Pricing for Vacation Rentals

2021 ◽  
Author(s):  
Yaping Wang ◽  
Kelly McGuire ◽  
Jeremy Terbush ◽  
Michael Towns ◽  
Chris K. Anderson
Keyword(s):  
Revenue Management ◽  
Dynamic Pricing ◽  
Conditional Logistic Regression ◽  
Model Performance ◽  
Price Sensitivity ◽  
Management Problem ◽  
Rolling Window ◽  
Time Availability ◽  
Optimization Routine ◽  
The Impact

In this paper, we propose a new dynamic pricing approach for the vacation rental revenue management problem. The proposed approach is based on a conditional logistic regression that predicts the purchasing probability for rental units as a function of various factors, such as lead time, availability, property features, and market selling prices. In order to estimate the price sensitivity throughout the booking horizon, a rolling window technique is provided to smooth the impact over time and build a consistent estimation. We apply a nonlinear optimization algorithm to determine optimal prices to maximize the revenue, considering current demand, availability from both the rental company and its competitors, and the price sensitivity of the rental guest. A booking curve heuristic is used to align the booking pace with business targets and feed the adjustments back into the optimization routine. We illustrate the proposed approach by successfully applying it to the revenue management problem of Wyndham Destinations vacation rentals. Model performance is evaluated by pricing two regions within the Wyndham network for part of the 2018 vacation season, indicating revenue per unit growth of 3.5% and 5.2% (for the two regions) through model use.

An Empirical Analysis of Delhi - Mumbai Sector Flight Fares

2017 ◽  
Vol 4 (4) ◽  
pp. 60-78
Author(s):  
T. Godwin
Keyword(s):  
Revenue Management ◽  
Dynamic Pricing ◽  
Time Windows ◽  
Analysis Framework ◽  
Pricing Decisions ◽  
Departure Time ◽  
Departure Date ◽  
Reservation System ◽  
The Right ◽  
The Impact

Revenue management is the art and science of making the right product or service available to the right customer at the right time through the right channel at right price. Dynamic pricing plays a crucial role in the implementation of revenue management in passenger airline reservation system. The liberalization of domestic aviation sector in countries such as India has seen many new market entrants resulting in higher competition while setting the flight fares. The variation in flight fares of Delhi – Mumbai passenger airline sector is studied for a departure date based on the number of days in advance the booking is made. Descriptive and inferential statistical analyses of the fares reveal the impact of airlines, booking channels and departure time windows on the pricing decisions of flight fares. The analysis framework of this study could be used as a basis for a continuous tracking study of flight fares by airline revenue managers to help them arrive at the right fare for each fare class of a flight.

An Empirical Analysis of Delhi - Mumbai Sector Flight Fares

2021 ◽  
pp. 1477-1495
Author(s):  
T. Godwin
Keyword(s):  
Revenue Management ◽  
Dynamic Pricing ◽  
Time Windows ◽  
Statistical Analyses ◽  
Pricing Decisions ◽  
Departure Time ◽  
Departure Date ◽  
Reservation System ◽  
The Right ◽  
The Impact

Revenue management is the art and science of making the right product or service available to the right customer at the right time through the right channel at right price. Dynamic pricing plays a crucial role in the implementation of revenue management in passenger airline reservation system. The liberalization of domestic aviation sector in countries such as India has seen many new market entrants resulting in higher competition while setting the flight fares. The variation in flight fares of Delhi – Mumbai passenger airline sector is studied for a departure date based on the number of days in advance the booking is made. Descriptive and inferential statistical analyses of the fares reveal the impact of airlines, booking channels and departure time windows on the pricing decisions of flight fares. The analysis framework of this study could be used as a basis for a continuous tracking study of flight fares by airline revenue managers to help them arrive at the right fare for each fare class of a flight.

Survey Data Quality in Analyzing Harmonized Indicators of Protest Behavior: A Survey Data Recycling Approach

2021 ◽  
pp. 000276422110216
Author(s):  
Kazimierz M. Slomczynski ◽  
Irina Tomescu-Dubrow ◽  
Ilona Wysmulek
Keyword(s):  
Data Processing ◽  
Data Quality ◽  
Survey Data ◽  
A Priori ◽  
Data Sets ◽  
New Approach ◽  
Survey Quality ◽  
Survey Error ◽  
Ex Post ◽  
The Impact

This article proposes a new approach to analyze protest participation measured in surveys of uneven quality. Because single international survey projects cover only a fraction of the world’s nations in specific periods, researchers increasingly turn to ex-post harmonization of different survey data sets not a priori designed as comparable. However, very few scholars systematically examine the impact of the survey data quality on substantive results. We argue that the variation in source data, especially deviations from standards of survey documentation, data processing, and computer files—proposed by methodologists of Total Survey Error, Survey Quality Monitoring, and Fitness for Intended Use—is important for analyzing protest behavior. In particular, we apply the Survey Data Recycling framework to investigate the extent to which indicators of attending demonstrations and signing petitions in 1,184 national survey projects are associated with measures of data quality, controlling for variability in the questionnaire items. We demonstrate that the null hypothesis of no impact of measures of survey quality on indicators of protest participation must be rejected. Measures of survey documentation, data processing, and computer records, taken together, explain over 5% of the intersurvey variance in the proportions of the populations attending demonstrations or signing petitions.

Research on the Impact Pressure of the Hydraulic Rolling-Cut Shear

2010 ◽  
Vol 145 ◽  
pp. 410-413 ◽  
Author(s):  
Jing Wang ◽  
He Yong Han ◽  
Qing Xue Huang ◽  
Jun Wang
Keyword(s):  
Hydraulic System ◽  
Impact Pressure ◽  
Direct Impact ◽  
Actual Situation ◽  
Work Situation ◽  
Servo Valve ◽  
Indirect Impact ◽  
Hydraulic Servo ◽  
Hydraulic Servo System ◽  
The Impact

The reasons for impact pressure are obtained by the research the hydraulic system of Hydraulic Rolling-Cut Shear. The impact pressure of hydraulic system is divided into direct impact and indirect impact. Based on analyzing the actual situation the measures should be taken to reduce the impact pressure when design hydraulic system. The suitable length of pipeline can improve the performance of the hydraulic system because the length is important for the impact pressure. The accumulator can absorb impact pressure and improve the work situation of servo valve. Therefore, the suitable accumulators should be set in the hydraulic system. The study provides theory basis for the pipe design of large hydraulic servo system.

Semi-Markov information model for revenue management and dynamic pricing

OR Spectrum ◽  
2006 ◽  
Vol 29 (1) ◽  
pp. 61-83 ◽  
Author(s):  
Darius Walczak ◽  
Shelby Brumelle
Keyword(s):  
Revenue Management ◽  
Dynamic Pricing ◽  
Information Model

scholarly journals Technical note on measuring run-off dynamics from pavements using a new device: the weighable tipping bucket

2011 ◽  
Vol 15 (5) ◽  
pp. 1379-1386 ◽  
Author(s):  
T. Nehls ◽  
Y. Nam Rim ◽  
G. Wessolek
Keyword(s):  
High Resolution ◽  
Data Processing ◽  
Temporal Resolution ◽  
Hydrological Process ◽  
Flow Measurements ◽  
New Device ◽  
Run Off ◽  
Low Volume ◽  
Rain Events ◽  
The Impact

Abstract. Due to climate change, cities need to adapt to changing rainfall and rainwater run-off dynamics. In order to develop an corresponding process based run-off model for pavements, we had to improve the measurement technique to detect run-off dynamics in an appropriate high resolution. Traditional tipping buckets (TB) have a comparable low volume resolution, capable to quantify the highest intensities in a range of expected flows. This results in varying temporal resolutions for varying flow intensities, especially in low resolutions for small flow events. Therefore, their applicability for run-off measurements and other hydrological process studies is limited, especially when the dynamics of both small and big flow events shall be measured. We improved a TB by coupling it to a balance and called it weighable tipping bucket (WTB). This paper introduces the device set up and the according data processing concept. The improved volume and temporal resolution of the WTB are demonstrated. A systematic uncertainty of TB measurements compared to WTB measurements is calculated. The impact of that increased resolution on our understanding of run-off dynamics from paved urban soils are discussed, exemplary for the run-off and the surface storage of a paved urban soil. The study was conducted on a permeably paved lysimeter situated in Berlin, Germany. Referring to the paved surface, the TB has a resolution of 0.1 mm, while the WTB has a resolution of 0.001 mm. The temporal resolution of the WTB is 3 s, the TB detects individual tippings with 0.4 s between them. Therefore, the data processing concept combines both the benefits of the balance to measure small intensities with that of the TB to measure high flow intensities. During a five months period (July to November 2009) 154 rain events were detected. Accordingly, the TB and WTB detected 47 and 121 run-off events. The total run-off was 79.6 mm measured by the WTB which was 11 % higher than detected by the TB. 95 % of that difference can be appointed to water, which evaporated from the TB. To derive a surface storage estimation, we analyzed the WTB and TB data for rain events without run-off. According to WTB data, the surface storage of the permeable pavement is 1.7 mm, while using TB data leads to an overestimation of 47 % due to low volume resolution of the TB. Combining traditional TB with modern, fast, high resolution digital balances offers the opportunity to upgrade existing TB systems in order to improve their volume detection limit and their temporal resolution, which is of great advantage for the synchronization of water balance component measurements and the investigation of hydrological processes. Furthermore, we are able to quantify the uncertainty of flow measurements gained with traditional tipping buckets.

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