At RTS, we have the expertise, experience, and knowledge in Business Analytics for Travel Transportation domain. Our consultants have higher degrees in operations research coupled with business knowledge and the ability to model business challenges analytically. We have been involved in developing several forecasting and optimization projects to forecast de-mand, capacity, and customer behavior. In addition, we have worked on modeling and analysis of capacity planning, resource allocation, contract planning, routing, and pricing.
Business Analytics is the discipline of applying advanced mathematical and analytical methods to help companies make better decisions and build more productive systems. Business analytics considers all available options and constraints, carefully pre-dicts outcomes and associated risks, takes advantage of available data, and deploys latest mathematical and statistical models to recommend the best option(s). It is a uniquely powerful approach to enhance your decision-making capabilities. Business Analytics has enhanced organizations and experiences all around us - from better scheduling of airline crews to the design of waiting lines at Disney theme parks and from global resource planning decisions to optimizing hundreds of local delivery routes.
Some of the techniques used in Business analytics. include:
- Simulation - the ability to try out approaches and test ideas for improvement.
- Optimization - narrowing down the choices to the very best when there are virtually innumerable feasible options and comparing them is difficult.
- Probability and Statistics - helping to measure risk, mine data to find valuable connections and insights, test conclusions, and make reliable forecasts.
RTS Business Analytics Services
RTS provides modeling, analysis, and decision support capabilities to the travel and transportation industry, including :
- Statistical Analysis of data
Cost modeling - Price elasticity – Relationships between business variables, etc.
Forecasting of demand - Customer behavior - Supply, etc.
- Revenue management
Inventory control - Space allocation - Allotment planning .
Dynamic pricing - Target pricing - Customer value pricing, etc.
Routing - Schedule analysis - Fleet management - Shift scheduling, etc.
- Transportation planning
Depot location - Tracking - Mode selection, etc.
- Resource allocation
Capacity planning - Product planning - Distribution planning - Inventory control, etc.