Patent attributes
A system and method for real-time revenue management is provided. Data is received from a scheduling system pertaining to a network comprising a plurality of legs. A sub-network within the network may be identified, and optimization of the sub-network is triggered. A current inventory information value attributable to the identified sub-network is pro-rated, and an expected traffic value for the identified sub-network is calculated using a forecast of the expected demand, a standard deviation of the demand, a gamma distribution equation, and an unsatisfied demand value. An updated inventory information value for the identified sub-network is generated using the pro-rated inventory information value and an optimization equation, wherein the optimization equation generates a maximum revenue value by adjusting the expected traffic, and the updated inventory information value is transmitted to the scheduling system.
