Data Analytics & Modeling
DecisionCraft builds mathematical and statistical models to aid the managerial decision-making for its world-class clients. Our approach is a synthesis of conceptual frameworks derived in consultation with the academicians from top business and engineering schools with the real-life experiences of industry professionals.

Revenue Management

Revenue Management (RM) is the process of maximizing revenue by optimally allocating inventory, forecasting demand and correct pricing of the inventory. It combines knowledge about market segmentation for pricing along with advanced statistical analysis to increase revenue. Price discrimination is the key factor for revenue management.
 
Where does RM apply?
Opportunities for revenue management arise when:
  1. Inventory is perishable
  2. Capacity is fixed
  3. Market segmentation based on willingness to pay is possible
  4. Sales are made in advance
  5. High fixed costs and low marginal costs

Forecasting

Forecasting entails the estimation of future behavior of business variables, in terms of values and directional trends, based on their historical values and other influencing factors. Forecasting models are used to aid decision making on strategic, tactical and operational levels. Based on insights from our clients, we work with them to identify the best possible combination of the three dimensions (time, product and geography) that scope the forecasting effort.
 
How can forecasting help?
DecisionCraft possesses immense expertise in developing forecasting models based on advanced time series analysis (For e.g., Exponential smoothing, Box-Jenkin’s, Box-Tiao, ARCH/GARCH) and regression techniques. We have developed a robust modeling methodology, which ensures that all inherent patterns in the data are incorporated along with the effect of critical influencing factors, both internal to the business and from the external environment
 
 
 
 
 
 
 
 
Selected Assignments:
  1. Broadcasting Revenue Management
  2. Airline Revenue Management
 
 
 
 
 
 
 
 
Selected Assignments:
  1. Petrochemical Price Forecasting
  2. Sales and Operations Planning
  3. Best Practices for Forecasting
  4. Broadcasting Revenue Management
  5. Airline Revenue Management
 
 
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