HOUSTON--(BUSINESS WIRE)--PROS® (NYSE: PRO), a cloud software company powering the shift to modern commerce, today announced that David McCaffrey, Ph.D. and Darius Walczak, Ph.D., will present at EURO 2018, the 29th Operational Research Conference held in Valencia, Spain, on July 8-11. McCaffrey is a PROS principal solutions architect, and Walczak serves as a senior director on the company’s Science and Research Team.
Walczak will lead a session dedicated to analytics and pricing in network revenue management. His presentation – titled “Dynamic Programming Decomposition Approaches to the Network Revenue Management and Pricing Problems” – was developed in a research collaboration with PROS scientists Ravi Kumar, Ph.D., and Wei Wang, Ph.D. Walczak will present alternatives for solving network revenue management challenges based on product-based decomposition. He will show novel solution approaches tested against resource-based decomposition models that are extensively deployed in the airline and hotel industries. Walczak will demonstrate how properly accounting for the trade-off between point-to-point and connecting passengers for airlines, and short vs. long stays for hotels, is crucial for generating improved revenues for these companies.
McCaffrey’s paper on “Data Science Approach to Value-Based Pricing” will demonstrate a data science approach to identifying which attributes drive the customer’s perception of value. This leads to statistical models of product value in terms of the trade-off between perceived benefits and price, which then informs practical strategies to move current prices toward a value-based price line-up.
“Organizations in the travel industry and, more generally, in the Business-to-Consumer and Business-to-Business space, are looking for artificial intelligence, machine learning and science that supports the extraordinary pace of change they’re experiencing in the digital era,” said PROS Senior Director of Science Royce Kallesen. “For decades, companies across the globe have looked to PROS for solving their most sophisticated revenue challenges. Now we bring that knowledge and experience to a much wider audience with data science-based value pricing. We are honored to have Davie McCaffrey and Darius Walczak represent our company at this prestigious conference.”
EURO – the European Association of Operational Research Society – is a regional group with IFORS, the International Federation of Operational Research Societies, headquartered in Switzerland. The organizations are dedicated to promoting operational research throughout Europe.
PROS Holdings, Inc. (NYSE: PRO) 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, profit realization and modern commerce 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, profit realization and modern commerce software and its current expectations of the benefits of revenue, profit realization and modern commerce 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, profit realization and modern commerce 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, profit realization and modern commerce 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.