Optimal Pricing in a hotel demand model
Revenue management (RM) can be defined as a set of techniques focused on analyzing consumer behavior with the purpose of obtaining the highest possible profit. In general, understanding how customers’ willingness to buy a certain good responds to this good’s…
Demand forecasting and Dynamic Pricing
Demand forecasting and suitable pricing are two key factors in any business. In the hotel context in particular, and more specifically in the online segment, these tasks are of vital importance due to the dynamic nature of prices and high…
Dynamic programming and the Fibonacci series
Dynamic programming Dynamic programming (DP) is a computer programming method which consists in breaking down a complex problem into smaller problems, usually in a recursive way. Then, these problems are solved one at a time, typically storing the already computed…
Simple Perceptron: Python implementation
Artificial neural networks are one of the main lines of study in the field of artificial intelligence today. This family of algorithms allows solving tasks as complex and diverse as image recognition, natural language processing or music generation. The main…
Simple perceptron: Mathematical definition and properties
One of the most common problems in the world of data science is that of predicting the value of certain variables from other variables. For example, we need to know whether it is convenient to grant a loan to a…