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Real time data processing personalization and automation are the main traits that allow for outperforming the legacy systems in determining price and time to make a satisfactory offer and maximize revenue.
Revenue management machine learning. Machine learning algorithms enhance the efficiency of revenue management systems. In the 1950s arthur samuel a pioneer of machine learning ml wrote the first game playing program. Ml is built on the hypothesis that a machine can learn how the human brain processes information. Application machine learning in pricing science.
Fundamentally machine learning can replicate most airline revenue management analyst interventions make such adjustments more disciplined and consistent.
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