May 05, 2017
HOUSTON, May 5, 2017 – PROS® (NYSE: PRO), a cloud software company powering the shift to modern commerce, today announced that Ravi Kumar, Ph.D., a member of the company’s Science and Research team, will deliver a revenue management research presentation at the 28th Annual Production and Operations Management Society (POMS) Conference. Scheduled for May 5-8 in Seattle, the event will be held at the Hyatt Regency Bellevue.
Kumar’s presentation – A Dynamic Pricing Model with Capacity Sharing for Airline Revenue Management – was developed in collaboration with Darius Walczak, Ph.D., and Ang Li, Ph.D. Kumar will consider revenue management settings for airlines where limited business compartment capacity can be shared with the economy class for each flight. The model jointly controls real-time prices for business and economy compartments, based on the bookings in each. The PROS Science & Research team developed algorithms for dynamic pricing to address challenges that are computationally efficient and lead to improved profitability for airlines.
“At PROS, we’re seeing a consistent increase in customers looking to move to a modern commerce strategy,” said PROS Senior Vice President for Science and User Experience Jeff Robinson. “Our decades of market experience, combined with advances in machine learning and cognitive computing, fuel a powerful forecasting and optimization science platform. We’re enabling next-generation dynamic pricing, making it possible for companies to price and sell their products and services with speed, precision and consistency. We’re honored that Ravi Kumar will present next-generation revenue management research based on his collaboration with PROS Science & Research team members.”
POMS is an international organization that represents the interests of operations management and research professionals from around the world.
PROS Holdings, Inc. (NYSE: PROS) is a cloud software company powering the shift to modern commerce by helping companies create personalized and frictionless buying experiences for their customers. Fueled by dynamic pricing science and machine learning, PROS solutions make it possible for companies to price, configure and sell their products and services in an omnichannel environment with speed, precision and consistency. Our customers, who are leaders in their markets, benefit from decades of data science expertise infused into our industry solutions. To learn more, visit pros.com.
This press release contains forward-looking statements, including statements about the functionality and benefits of revenue and profit realization software to organizations generally as well as the functionality and benefits of PROS software products. The forward-looking statements contained in this press release are based upon PROS historical experience with revenue and profit realization software and its current expectations of the benefits of revenue and profit realization software for organizations that implement and utilize such software. Factors that could cause actual results to differ materially from those described herein include the addressability of an organization’s revenue and profit realization software needs, the risks associated with PROS developing and enhancing products with the functionality necessary to deliver the stated results and the risks associated with the complex implementation and maintenance of revenue and profit realization software such as PROS software products. Additional information relating to the uncertainty affecting the PROS business is contained in PROS filings with the Securities and Exchange Commission. These forward-looking statements represent PROS expectations as of the date of this press release. Subsequent events may cause these expectations to change, and PROS disclaims any obligations to update or alter these forward-looking statements in the future whether as a result of new information, future events or otherwise.
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