Whether you are trying to score a cheap flight to your next holiday destination, or you are scheduling a last-minute travel for a business meeting abroad; the price you pay for your ticket is always a surprise. Looking at the same flight a day later might cause you to pay hundreds of euros more (or less). The reason for this is the dynamic pricing principle. The ticket prices are determined by an algorithm that takes a lot of factors into account. In the end the goal is to maximize the total revenue: selling as much tickets for the highest price that people are willing to pay. The game of this trade-off between offer and demand is called Revenue Management and is used in many industries for flight tickets, holiday bookings, Groupon, music tickets and much more.
Revenue management is one of ORTEC’s core capabilities and this evening you get the chance to look behind the scenes. This evening, you will be the one in the lead as you get to determine the prices for your own airline. It is a matter of mastering the balancing act of predicting the willingness to pay of potential customers while keeping the limited number of seats in mind… Will you take off to new heights and beat the competition?
17:30-18:30: Welcome + dinner
18:30-21:30: (Interactive) workshop/serious game
The entire event and game will be in English. The location is easily accessible by public transport (Amsterdam Sloterdijk) and car (parking in front of the building for 10 cents).
Since 1981 ORTEC is the world’s leading supplier of mathematical optimization software and advanced analytics with around 1,000 employees and offices in 13 countries around the globe. Over the years, we have optimized business processes at more than 1,200 leading companies, enabling us to make a significant contribution to a better world.