Revenue Management and Demand Analytics

Recommended prerequisites: This course will build on the basics of operations management, statistics, and optimization. In particular, it is strongly recommended that students have completed the following courses: - ISM-A3002 Tuotannon ja palveluiden johtaminen (Operations and service management), - ISM-C1002 Tilastotieteen ja data-analytiikan jatkokurssi (Advanced course in statistics and data analytics), - ISM-C1004 Business Analytics 1, or obtained equivalent skills from other university-level courses. These skills include the basics of linear algebra, multivariate functions, probability and random variables, regression models, and linear optimization. Experience with a programming language such as R or Python will be useful.

Understanding the demand for products and services is vital across business operations. This course provides students with tools and techniques for (i) analyzing and forecasting the demand of a product and (ii) managing this demand through pricing and capacity decisions. Collectively, these tools are referred to as revenue management.

After the course, students will be able to identify appropriate demand analysis and forecasting tools for different types of products and services and apply these tools to practical applications, and understand the value and limits of revenue management tools in controlling demand.

Teaching Language: English

Teaching Period: 2024-2025 Spring IV
2025-2026 Spring IV

Registration:

There is a maximum number of students on this course. Priority will be given to Aalto students studying in the MSc-programs in Information and Service Management & Business Analytics.