From dynamic pricing for hotel rooms and airline seats to surge pricing for on-demand taxi service, the service industry is a hotbed of applications for data-centric innovations.
Prof. Kalyan Talluri and his team are developing novel optimisation applications for a range of wide range of business problems. That includes not only dynamic pricing, but also optimisation for staffing, purchasing and supply chains, location for retail networks, and load balancing in complex networks, to name just a few applications. The unifying theme here is using data, maths and algorithms to make businesses and organisations more responsive to real-time fluctuations in demand, supply and prices.
In any given project, these are the kinds of core questions that we ask and answer:
- How can we use data from various sources to help make the firm operational decisions?
- What strategic insights from data suggest strategies long-term growth in revenues or margin?
- How can we use streaming data to make real-time improvements for maximum efficiency?