The INFORMS Revenue Management and Pricing Section Practice Award
2012 Prize Winner:
HP Labs and Columbia University
The RM&P Section Practice Award recognizes outstanding applications of revenue management and pricing techniques. As in previous years, the 1st-prize winner was selected based on impact, originality, and technical merit.
Recognizing the outstanding effort of an interdisciplinary team comprised of both practitioners and academics, the 2012 Prize has been presented to HP Labs, Columbia University, and HP Printing and Personal Systems for their initiative "Data Driven Market Pricing and Portfolio Management." According to Warren Lieberman, Chair of the Awards Committee, “The team from Hewlett Packard and Columbia University addressed a complex and challenging revenue management problem encountered by many firms: choosing the products and prices to offer in a portfolio of choices to multiple markets. Their solution combines business process insights with technical advances, resulting in a state-of-the-art comprehensive system. The new system should provide implementation flexibility as it enables both strategic and tactical issues to be addressed, ultimately leading to increases in profitability."
The team members are José Beltrán, Kay-Yut Chen, Aldo Garcia, Shailendra Jain, Enis Kayis, Alejandra Salazar, Jay Wang, Ruxian Wang (HP Labs); Guillermo Gallego (Columbia University); Matthew Wagner, Tillmann Fein and Trishala Raj Shankar (HP Printing and Personal Systems).
The prize was awarded at the 2012 INFORMS Revenue Management and Pricing Section summer conference held on June 29 - 30 at the European School of Management and Technology.
Chaired by Warren Lieberman (Veritec Solutions), Joern Meissner (Kuehne Logistics University) also served on the Practice Prize Awards Committee.