The New Frontier of Data-Driven Price Optimization

An overview of research being conducted by Dr. He Wang, assistant professor in Georgia Tech's
H. Milton Stewart School of Industrial & Systems Engineering, as part of the SCL Interdisciplinary Research Center seminar series.
SEMINAR DESCRIPTION
In practice, firms are often faced with pricing challenges including high demand uncertainty, limited inventory, and restrictions to conduct price experimentation. In this talk, I will discuss models and algorithms that combine machine learning and price optimization. The key idea of these algorithms is to use real-time sales data to improve pricing decisions. I will report simulation and field experiment results that show significant revenue improvement using these methods. ? ??
ABOUT HE WANG
Dr. He Wang is an assistant professor in the H. Milton Stewart School of Industrial & Systems Engineering. His research focuses on the interface between machine learning and operations management, where he develops data-driven methods for applications including supply chain management and dynamic pricing. He received his Ph.D. in operations research and his M.S. in transportation from Massachusetts Institute of Technology. He received his B.S. in industrial engineering and math from Tsinghua University in China.