Event revenue management system

US7110960B2 · kind B2 · utility

Assignee

• Manugistics Inc. · US

Inventors

• Robert Phillips · Great Falls, US
• Michael Eldredge · Harvard, US
• Dave Levett · Leatherhead, GB
• Nancy Pyron · Smyrna, US
• Jeremy S. Cohen · Sunnyvale, US
• George Cao · Sunnyvale, US
• Kirsten Holmquist · Sunnyvale, US
• Bill Buckalew · Newnan, US
• Stanley Ye · Mountain View, US
• Andrew Mace · Peachtree City, US

Key dates

• Filing date: Jun 8, 2001
• Grant date: Sep 19, 2006
• Expiry date: Dec 8, 2023

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q30/0283
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

The present invention provides an event revenue management system that calculates event pricing to manage revenue and to maximize profit from the event. In particular, the system uses event parameters, including timing, resource, and discount categories, and initializes forecasting parameters. The system aggregates historical data using the forecasting parameters to generate initial forecast statistics, taking into account the event parameters. It then forecasts demand by updating the initial forecast statistics based on current data and optimizes pricing and availability of the event based on the forecasted demand.