mathematical forecasting

mathematical forecasting

[¦math·ə¦mad·ə·kəl ′fȯr‚kast·iŋ]
(meteorology)
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The investment by Hyatt expands Hyatt's long-standing business relationship with MaximRMS, including the development of market leading revenue management capabilities, the deployment of MaximRMS hospitality business intelligence capabilities and long-term global licensing of MaximRMS patented mathematical forecasting and optimization technology.
The mathematical forecasting models presented are all time-series related except for one--multiple regression--which can be used to fit casual models.
Manugistics NetWORKS Airline Revenue Optimizer uses a proprietary and highly sophisticated mathematical forecasting engine to create detailed demand forecasts, by flight, for various passenger "buckets" or value classifications.
Topics covered will include a survey of all major process and subprocess elements of demand planning, a review of basic mathematical forecasting principles, and a self-assessment component that workshop participants may use as a roadmap for analyzing and improving their own planning and operational processes.
This methodology automatically identifies and recommends the most appropriate mathematical forecasting algorithm.
The founder of YMSI led the team that performed ground-breaking research in the early-1980s in mathematical forecasting and optimization to develop the very first revenue management system.

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