MIT researchers win 2014 INFORMS Revenue Management and Pricing Section Practice Award

MIT’s Kris Johnson, Alex Lee, and David Simchi-Levi — along with online retailer Rue La La — have received the 2014 INFORMS Revenue Management and Pricing Section Practice Award for a project that is expected to increase Rue La La’s revenues. The award for the analytics-based pricing-optimization application developed through the Accenture and MIT Alliance in Business Analytics was presented on June 5 at the INFORMS Revenue Management and Pricing Conference in Istanbul.
The Institute for Operations Research and the Management Sciences (INFORMS) is the largest society for professionals in the field of operations research, management science, and analytics. Its annual Revenue Management and Pricing Section Practice Award recognizes outstanding applications of revenue management and pricing techniques. The winner is selected based on impact, originality and innovation, and technical merit.