I still remember the first day of my undergraduate class in ‘Introduction to Industrial Engineering’ back in 1975. As a young boy growing up in a town with open coal mine fields, power plants, and fertilizer plants, I was always fascinated by heavy machinery and wanted to be a mechanical engineer. All that changed completely right after I sat through my first lecture in Industrial Engineering. I was hooked on to it… forever. It was very simple—it just seemed to fit my personality. Industrial Engineering is about constantly finding ways to improve processes and systems. It is about optimizing the performance of people, processes, and systems.
As I continued to pursue my newly found interest, advanced courses and research on quantitative methods seemed to be the logical choice to get me prepared for the real world. It is not surprising that I passionately love “Business Analytics” and its application to transportation and logistics. Business Analytics is no different than a combination of Industrial Engineering concepts and methods coupled with quantitative methods such as operations research and statistics. It is simply old wine in a new, attractive bottle: the best combination - looks pretty and tastes great.
Business Analytics (BA) refers to the skills, technologies, applications and practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning (Beller, M.J.; Alan Barnett (2009-06-18). "Next Generation Business Analytics". Lightship Partners LLC). BA focuses on developing new insights and understanding business performance based on data and analytical methods and helps in better decision-making.
At Revenue Technology Services (RTS), we have the expertise, experience, and knowledge in Business Analytics for the Travel and Transportation industry. Business Analytics is at the core of everything we do at RTS. Our revenue management, pricing, and scheduling software solutions incorporate industry leading statistical forecasting models and network optimization models. We have successfully developed several advanced planning and operational systems using operations research based methodologies that have enabled our customers to make better decisions. Our people bring together a vast amount of expertise and experience in Business Analytics in terms of business knowledge, industry expertise, and IT which are the key components of our and our customers’ success.
Send us a note or give us a call. We will help you look for symptoms that need to be further researched in terms of causes and challenges and turn them into opportunities by analyzing your data, identifying your constraints, and recommending options.
Raja Kasilingam, Ph.D.
President
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