Revenue Analytics: Price Optimization

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Course Dates

STARTS ON

October 20, 2022

Course Duration

DURATION

6 weeks, online
4-6 hours per week

Course Fee

PROGRAM FEE

US$2,600 US$2,392 or get US$260 off with a referral

Course Information Flexible payment available

Application Details

program fee

US$2,600 US$2,392

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Accelerate Your Career in Revenue Analytics with the Wharton School

Revenue optimization is at the core of today's competitive marketing and sales strategies — and the most successful organizations are adopting data analytics tools and techniques to make the smartest forecast and pricing decisions. This is why revenue analytics professionals and other marketing professionals with tactical skills in analytical tools are highly sought after today.

You'll gain comprehensive knowledge of revenue optimization concepts for decision making using statistical, optimization, and economic tools. This program will also prepare you for a new and lucrative career with hands-on experience in applying various analytics tools and techniques to solve optimization problems across industries.

Organizations are ready to hire. Are you ready to take the next step to advance your career in revenue management? Secure your place in Wharton's Revenue Analytics: Price Optimization online program today.

9.6% is the expected compound annual growth rate for the global revenue management market from 2019 to 2024

Source: MarketsandMarkets

Who This Program Is For

Revenue Analytics: Price Optimization is designed to give participants hands-on experience in using data-analytics tactical tools for successful revenue-optimization strategies in a variety of business scenarios.

The program is ideal for:

  • Mid-to-senior management in business development, general management, and sales who are seeking new strategies for driving up business revenue and profitability
  • Category managers, product managers, and marketing managers who are challenged to develop new competitive strategies for revenue planning and management
  • Finance and revenue-planning managers who want to hone their forecasting of market trends and changes to support a more effective marketing strategy
  • Pricing analysts and business analysts who are challenged to design an elegant pricing approach for a product or service portfolio

Key Takeaways

  • Identify and understand the key problems solved by revenue-management analytics
  • Solve revenue-management problems using various models for revenue forecasting, statistical estimation, and optimization
  • Understand the economic and mathematical concepts of revenue management in different business contexts
  • Make business decisions and develop an optimal pricing strategy based on estimation data
  • Determine optimal pricing strategies to maximize business revenue
  • Drive product revenue by applying sales strategies such as discounting and bundling
  • Use analytics to forecast trends, risks, and challenges in existing and new markets and create strategies to manage them

Program Highlights

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Assignments

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Discussions

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Excel Exercises

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Industry Examples

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Knowledge Checks

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Live Office Hours

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Reflections

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Try-It Activities

Program Topics

Module 1:

Introduction to Revenue Management

Begin the program by learning the basics of revenue management and how data analytics have changed and transformed concepts and techniques over time.

Module 2:

Willingness to Pay/Demand Estimation and Pricing

Gain hands-on experience using revenue analytics to solve the problem of estimating demand and willingness to pay. Plus, use the results to price for optimized revenue.

Module 3:

Estimation Challenges in Revenue Management

Explore various statistical methods for overcoming typical estimation challenges, including estimating willingness to pay and censored data.

Module 4:

Dynamic Pricing

Learn how to estimate optimized revenue when dealing with multiple types of customers, such as discount and premium buyers with disparate buying habits.

Module 5:

Quantity-Based Revenue Management

Learn analytics strategies for quantity-based revenue management by exploring real-world revenue estimation challenges in the airline industry.

Module 6:

New Frontiers in Revenue Management

Explore the value of analytics to support optimized revenue-management decisions regarding auctions, overbooking practices, and two-sided platforms such as Airbnb.

Module 1:

Introduction to Revenue Management

Begin the program by learning the basics of revenue management and how data analytics have changed and transformed concepts and techniques over time.

Module 4:

Dynamic Pricing

Learn how to estimate optimized revenue when dealing with multiple types of customers, such as discount and premium buyers with disparate buying habits.

Module 2:

Willingness to Pay/Demand Estimation and Pricing

Gain hands-on experience using revenue analytics to solve the problem of estimating demand and willingness to pay. Plus, use the results to price for optimized revenue.

Module 5:

Quantity-Based Revenue Management

Learn analytics strategies for quantity-based revenue management by exploring real-world revenue estimation challenges in the airline industry.

Module 3:

Estimation Challenges in Revenue Management

Explore various statistical methods for overcoming typical estimation challenges, including estimating willingness to pay and censored data.

Module 6:

New Frontiers in Revenue Management

Explore the value of analytics to support optimized revenue-management decisions regarding auctions, overbooking practices, and two-sided platforms such as Airbnb.

Program Faculty

Faculty Member Noah Gans

Noah Gans, PhD

Anheuser-Busch Professor of Management Science; Professor of Operations Information and Decisions, The Wharton School

Noah Gans is the Anheuser-Busch Professor of Management Science and professor of Operations, Information and Decisions at the Wharton School of the University of Pennsylvania. Noah’s research focuses on service operations, revenue management, and problems of stochastic optimization and statistical learning... More info

Faculty Member Senthil Veeraraghavan

Senthil Veeraraghavan

Panasonic Professor of Manufacturing and Logistics Professor of Operations, Information, and Decisions

Professor Veeraraghavan teaches a course in operations strategy in the Operations, Information, and Decisions Department. He also conducts research on service operations, pricing and operational design, and global supply chains, using theoretical models and data... More info

Guest Speakers

Faculty Member Jun Li

Jun Li

Associate Professor of Technology and Operations; Michael R. and Mary Kay Hallman Fellow, Stephen M. Ross School of Business

Professor Li is an associate professor of technology and operations at the University of Michigan’s Ross School of Business. She conducts research in empirical operations management and business analytics that spans revenue management and pricing, health care management, supply chain risks, corporate social responsibility, and public sector operations. Professor Li specializes in causal inferences and structural estimation and in integrating economic modeling with statistical inferences. She has worked closely with airlines, hotels, retailers, and marketplace platforms to analyze user data and implement new pricing or inventory strategies. She holds a PhD in managerial economics and management science from Wharton and a bachelor’s degree in operations research and industrial engineering from Tsinghua University, China.

Certificate

Example image of certificate that will be awarded after successful completion of this program

Certificate

Get recognized! Upon successful completion of the program, the Wharton School grants a verified digital certificate of completion to all participants.

Download Brochure

Note: After successful completion of the online program, your verified digital certificate will be emailed to you in the name you used when registering for the program. All certificate images are for illustrative purposes only and may be subject to change at the discretion of the Wharton School. This online certificate program does not grant academic credit or a degree from the Wharton School of the University of Pennsylvania.

FAQs

  • How do I know if this program is right for me?

    After reviewing the information on the program landing page, we recommend you submit the short form above to gain access to the program brochure, which includes more in-depth information. If you still have questions on whether this program is a good fit for you, please email learner.success@emeritus.org,and a dedicated program advisor will follow-up with you very shortly.


    Are there any prerequisites for this program?

    Some programs do have prerequisites, particularly the more technical ones. This information will be noted on the program landing page, as well as in the program brochure. If you are uncertain about program prerequisites and your capabilities, please email us at learner.success@emeritus.org for assistance.


    Note that, unless otherwise stated on the program web page, all programs are taught in English and proficiency in English is required.


    What is the typical class profile?

    More than 50 percent of our participants are from outside the United States. Class profiles vary from one cohort to the next, but, generally, our online certificates draw a highly diverse audience in terms of professional experience, industry, and geography — leading to a very rich peer learning and networking experience.


    What other dates will this program be offered in the future?

    Check back to this program web page or email us at learner.success@emeritus.org to inquire if future program dates or the timeline for future offerings have been confirmed yet.

  • How much time is required each week?

    Each program includes an estimated learner effort per week. This is referenced at the top of the program landing page under the Duration section, as well as in the program brochure, which you can obtain by submitting the short form at the top of this web page.



    How will my time be spent?

    We have designed this program to fit into your current working life as efficiently as possible. Time will be spent among a variety of activities including:



    • Engaging with recorded video lectures from faculty
    • Attending webinars and office hours, as per the specific program schedule
    • Reading or engaging with examples of core topics
    • Completing knowledge checks/quizzes and required activities
    • Engaging in moderated discussion groups with your peers
    • Completing your final project, if required

    The program is designed to be highly interactive while also allowing time for self-reflection and to demonstrate an understanding of the core topics through various active learning exercises. Please contact us at learner.success@emeritus.org if you need further clarification on program activities.



    What is it like to learn online with the learning collaborator, Emeritus?

    More than 250,000 professionals globally, across 80 countries, have chosen to advance their skills with Emeritus and its educational learning partners. In fact, 90 percent of the respondents of a recent survey across all our programs said that their learning outcomes were met or exceeded.

    A dedicated program support team is available 24/5 (Monday to Friday) to answer questions about the learning platform, technical issues, or anything else that may affect your learning experience.


    How do I interact with other program participants?

    Peer learning adds substantially to the overall learning experience and is an important part of the program. You can connect and communicate with other participants through our learning platform.

  • What are the requirements to earn the certificate?

    Each program includes an estimated learner effort per week, so you can gauge what will be required before you enroll. This is referenced at the top of the program landing page under the Duration section, as well as in the program brochure, which you can obtain by submitting the short form at the top of this web page. All programs are designed to fit into your working life.

    This program is scored as a pass or no-pass; participants must complete the required activities to pass and obtain the certificate of completion. Some programs include a final project submission or other assignments to obtain passing status. This information will be noted in the program brochure. Please contact us at learner.success@emeritus.org if you need further clarification on any specific program requirements.


    What type of certificate will I receive?

    Upon successful completion of the program, you will receive a smart digital certificate. The smart digital certificate can be shared with friends, family, schools, or potential employers. You can use it on your cover letter, resume, and/or display it on your LinkedIn profile.
    The digital certificate will be sent approximately two weeks after the program, once grading is complete.


    Can I get the hard copy of the certificate?

    No, only verified digital certificates will be issued upon successful completion. This allows you to share your credentials on social platforms such as LinkedIn, Facebook, and Twitter.


    Do I receive alumni status after completing this program?

    No, there is no alumni status granted for this program. In some cases, there are credits that count toward a higher level of certification. This information will be clearly noted in the program brochure.


    How long will I have access to the learning materials?

    You will have access to the online learning platform and all the videos and program materials for 12 months following the program start date. Access to the learning platform is restricted to registered participants per the terms of agreement.

  • What equipment or technical requirements are there for this program?

    Participants will need the latest version of their preferred browser to access the learning platform. In addition, Microsoft Office and a PDF viewer are required to access documents, spreadsheets, presentations, PDF files, and transcripts.


    Do I need to be online to access the program content?

    Yes, the learning platform is accessed via the internet, and video content is not available for download. However, you can download files of video transcripts, assignment templates, readings, etc. For maximum flexibility, you can access program content from a desktop, laptop, tablet, or mobile device.

    Video lectures must be streamed via the internet, and any livestream webinars and office hours will require an internet connection. However, these sessions are always recorded, so you may view them later.

  • Can I still register if the registration deadline has passed?

    Yes, you can register up until seven days past the published start date of the program without missing any of the core program material or learnings.


    What is the program fee, and what forms of payment do you accept?

    The program fee is noted at the top of this program web page and usually referenced in the program brochure as well.

    • Flexible payment options are available (see details below as well as at the top of this program web page next to FEE).
    • Tuition assistance is available for participants who qualify. Please email learner.success@emeritus.org.

    What if I don’t have a credit card? Is there another method of payment accepted?

    Yes, you can do the bank remittance in the program currency via wire transfer or debit card. Please contact your program advisor, or email us at learner.success@emeritus.org for details.


    I was not able to use the discount code provided. Can you help?

    Yes! Please email us at learner.success@emeritus.org with the details of the program you are interested in, and we will assist you.


    How can I obtain an invoice for payment?

    Please email learner.success@emeritus.org with your invoicing requirements and the specific program you’re interested in enroling in.


    Is there an option to make flexible payments for this program?

    Yes, the flexible payment option allows a participant to pay the program fee in installments. This option is made available on the payment page and should be selected before submitting the payment.


    How can I obtain a W9 form?

    Please email us at learner.success@emeritus.org for assistance.

  • What is the policy on refunds and withdrawals?

    You may request a full refund within seven days of your payment or 14 days after the published start date of the program, whichever comes later. If your enrolment had previously been deferred, you will not be entitled to a refund. Partial (or pro-rated) refunds are not offered. All withdrawal and refund requests should be sent to admissions@emeritus.org.



    What is the policy on deferrals?

    After the published start date of the program, you have until the midpoint of the program to request to defer to a future cohort of the same program. A deferral request must be submitted along with a specified reason and explanation. Cohort changes may be made only once per enrolment and are subject to availability of other cohorts scheduled at our discretion. This will not be applicable for deferrals within the refund period, and the limit of one deferral per enrolment remains. All deferral requests should be sent to admissions@emeritus.org.

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