Standby upgrade programs can significantly increase hotel revenue by offering premium rooms to myopic guests, leading to a 30-35% revenue gain. Hotels with the right ratio of standard and premium rooms and unique features can benefit from such programs.
A new study from Columbia Business School sheds light on the secret sauce to developing creative ideas, finding that a balance between novelty and familiarity makes an idea more creative. The researchers developed a tool that analyzes word combinations in real-time and recommends words to improve ideas.
A study published in Marketing Science journal reveals that sellers are 3.5 times more impactful than buyers in growing e-commerce platforms like Taobao.com. The findings suggest that the presence of diverse product offerings on the platform is crucial for attracting buyers, while frequent buying activity motivates sellers to join.
A study published in Marketing Science found that leveraging psychological theories on sympathy when drafting a fundraising letter can significantly increase donations. The experiment involved varying the content of fundraising letters and measuring the response, resulting in a 300% increase in donations.
A study by Indiana University researchers found that using a combination of first touch and last touch keyword metrics improves ROI by 5%. First touch bidding prioritizes broad keywords, attracting early searchers, while last touch bidding targets specific keywords used by consumers late in the search process
A study of digital camera purchases and online browsing behavior found that consumers rarely explore a full range of products before making a purchase. On average, it takes around 15 days for a consumer to make a final decision, with the majority of purchases happening within under a month.
A recent study by INFORMS found that tweets are more effective in predicting future TV ratings than Google Trends. The researchers analyzed over 1.8 billion tweets and 113 million Google searches for TV shows during the 2008-2012 seasons.
Researchers from Illinois Institute of Technology analyzed over 200 brands on Twitter, finding that fans of eco-friendly, luxury, and nutrition brands tend to follow environmentally focused accounts, resulting in a positive brand image. This approach offers a cost-effective alternative to traditional surveys.
Research found that riders in crowded subway trains are about twice as likely to respond to mobile ads by making a purchase. The study examined responses to mobile ads of riders who took the subway in a large city and found that purchase rates increased significantly when there were more people per square meter.
A new study analyzing six years of sales data from over 1,700 supermarkets across the U.S. found that small price differences can significantly shift consumer demand towards healthier low-calorie alternatives, particularly among low-income consumers. The study's results suggest that a 'fat tax' of just 5-10% can be effective in reducin...
Researchers created a machine learning framework that predicts vaccine efficacy on an individual basis using genetic signatures. The framework demonstrated high accuracy in predicting yellow fever and flu vaccine responses.
The Institute for Operations Research and the Management Sciences has presented eight new recipients of the INFORMS Fellow Award, recognizing their outstanding achievements in various areas. The awards are given to individuals who have made significant contributions to education, management, practice, research, and service in the field...
A study published in Marketing Science finds that increasing cigarette taxes can lead to a shift towards higher nicotine products, potentially increasing addiction levels. The study also suggests that this unintended consequence is more likely to occur in poorer neighborhoods.
A field experiment with over 30,000 customers found that multichannel shopping generates higher profits for companies compared to single-channel purchases. The study identified a key marketing campaign that induces customers to use multiple channels without relying on financial incentives.
A study of early-stage supermarket adoption in India finds that the lower middle class is driving growth and will drive demand for modern grocery retail. Supermarkets are more popular among upper and middle-middle classes, while mom-and-pop 'kirana' stores appeal to lower-income shoppers who value credit and home delivery services.
A study published in INFORMS' Management Science found that buying from friends increases ecommerce purchases by 60%, regardless of the friend's influence status. The researchers also discovered that users with fewer friends experience stronger relative increases in adoption rates.
Counterfeiting in the fashion industry can lead to improved quality, aesthetics, and affordability for consumers. Brands react by investing in superior materials and designs to differentiate themselves from counterfeit products.
A study on local salespeople's pricing discretion reveals that central, optimized pricing yields higher profits (20%) than local pricing (11%), improving overall profitability. The hybrid approach balances HQ analytic capabilities with field deal-specific information.
A new INFORMS study reveals that responding to customer complaints on Twitter can actually trigger more complaints, improving the initial customer relationship but increasing expectations and complaint propensity.
A new INFORMS marketing science study reveals that peer influence among physicians can impact both trial and repeat prescription behavior for risky new prescription drugs. Physicians who are central in the social network or have middle status influence repeat prescriptions more effectively.
A new INFORMS journal study provides more predictable ways to manage arrival traffic at airports with adverse weather. The research reveals that knowing early about late flights reduces the cost of Ground Delay Programs (GDPs) for flight operators, with a 13% reduction in delays observed.
A new INFORMS journal study reveals that strong advertising and Research and Development can help protect firms from bankruptcy during unstable market conditions. The study found that brands are more effective at protecting firms when the market is stable, while patents are more effective in turbulent markets.
A new algorithm developed by Microsoft researchers has improved route planning capabilities for Bing Maps, providing faster processing and more accurate information on lengthy trips. The Customizable Route Planning (CRP) engine also offers more reliable alternate routes and better estimates of time needed for turns and traffic snarls.
A new study published in INFORMS journal refutes conventional wisdom that distracted viewers are less receptive to advertisers' messages. Multitasking viewers visit, browse, and buy advertised products within moments of seeing a commercial.
A new study published in Marketing Science finds that firms creating their own brand-specific online communities experience significant revenue growth, with social engagement being a key driver. The study reveals that enabling customer social interactions can generate substantial direct revenue benefits to the firm.
Syngenta's use of advanced analytics and operations research led to improved crop production, reducing the time and cost required to develop crops with high productivity. The company's innovative tools have resulted in over $287 million in cost savings and a high probability of delivering a portfolio value exceeding $1.5 billion.
The Centre for Operations Excellence at UBC Sauder School wins the prestigious UPS George D. Smith Prize for its effective and innovative preparation of students in operations research practice. The prize aims to emphasize the importance of operations research practice and encourage programs worldwide to focus on preparing students.
INFORMS awards Chevron its annual INFORMS Prize for its long history of applying analytics and O.R. to various aspects of the energy company, enabling data-driven decisions that improve safety, reliability, efficiency, and resource recovery.
Most firms in the digital camera sector adopt straightforward competitive pricing for 60% of new products. The choice of strategy depends on market, firm, and brand characteristics. Firms use various dynamic pricing strategies simultaneously over a portfolio of products.
A new model by Anna Nagurney adds a way to examine the value of stolen data over time, helping policymakers plan against future cyber attacks. The model captures network economics of cybercrime activity and permits policy evaluation of interventions.
A new study by Yao Zhang and colleagues finds that customers with 'clumpiness' - bursts of heavy buying interspersed with little or no buying - provide higher long-term returns to businesses. This pattern of consumption extends the 'hot hand' literature in statistics journals.
A new INFORMS study suggests that combining battery leasing with improved charging technology can alleviate range and resale anxieties, increasing electric vehicle adoption. The study finds that these combined models yield higher benefits than traditional ownership models, particularly in terms of emission savings and consumer surplus.
A new study by Pranav Jindal reveals that selling extended warranties through independent firms may lower prices, but ultimately harms consumers. Consumers view paying for repairs as a loss, driving them to buy extended warranties, and loss aversion plays a key role in this behavior.
Lumina Decision Systems' Analytica software helped stakeholders reach near consensus on a 'rigs to reefs' policy option, reducing costs and preserving marine ecosystems. The tool was successful in distilling rhetoric to meaningful discussion of tradeoffs and values.
A new study published in Marketing Science reveals that ads can still convey their main message despite brief and blurred exposure to consumers. The study found that the color of central objects in ads plays a crucial role in rapid perception and 'ad cut through' under these conditions.
A novel risk exposure model helped Ford identify previously unrecognized risk exposures and develop optimal contingency plans. The model assesses the impact of disruptions on a firm's supply chain, enabling informed decision-making.
A new study by Duncan Simester and Juanjuan Zhang suggests that firms should allow their sales people to 'waste' energy on internal negotiations, making the process wasteful on purpose. This approach can increase trust in sales force and is profitable for firms.
Nimrod Megiddo recognized for groundbreaking work in algorithmic game theory, linear programming, and combinatorial optimization. His contributions have been highly influential across various areas of operations research and management science.
The Computational Infrastructure for Operations Research (COIN-OR) initiative was launched by IBM Research in 2000 and has since grown to over 50 projects, supporting hundreds of peer-reviewed research papers. The INFORMS Impact Prize recognizes the program's broad impact on operations research.
Most organizations prioritize analytics maturity, but few have a plan to assess their analytics best practices. INFORMS' survey reveals that only 18% of respondents have an analytics maturity model in place, with many citing lack of resources or affordability as barriers.
A new INFORMS study found that product placement in television programs can reduce audience loss during commercials by up to 10.8%, with coordination between brands and networks leading to increased audience sizes and benefits for advertisers and networks alike.
A new INFORMS study finds that customer experience plays a crucial role in influencing purchase decisions during good economic times. The researchers discovered that customers focus on past experiences and satisfaction levels when the economy is strong, leading to increased revenue gains for firms that improve customer experience.
A new INFORMS study analyzes the strengths and weaknesses of Israel's Iron Dome system, which saved lives during recent conflicts. The study found that Iron Dome may have prevented around 1778 Israeli casualties in 2012 and 525 in 2014, but its effectiveness is disputed due to imperfect rocket categorization.
A new INFORMS study finds that increased service providers' social preferences may worsen societal outcomes due to customers paying higher prices for assured service. This occurs as profit-maximizing providers mimic uniform pricing strategies, leading to a decrease in served high-cost customers.
A new INFORMS study suggests that US consumers are better off choosing electric vehicles with a range below 100 miles due to the high cost of batteries. The study found that the majority of consumers will benefit from short-range BEVs once battery costs drop below $100 per kilowatt hour.
A study analyzing 8,000+ scientists found that middle-status researchers are more prone to adopting commercial kits and imitating their collaborators' use. This is due to mid-level scientists being sensitive to opportunities and threats to their status.
A new INFORMS study finds that buying competitors' brand names as keywords on search engines can backfire if the advertising brand is inferior to the rival. The authors provide a framework for choosing keywords among brand names, offering advertisers a way to optimize their search ads.
A new approach to mammogram interpretation takes into account a woman's health risk profile, reducing missed cancer diagnoses by 3.7% and false positives by 3.23%. The method uses statistical weighting based on profile risk to improve biopsy decisions.
A recent study suggests that e-cigarettes are significantly less hazardous than traditional tobacco products, contrary to common perceptions. Meanwhile, research indicates that alcohol poses the greatest risk to public health, causing more harm than other recreational drugs.
A study published by INFORMS finds that analyzing pre-release consumer buzz can forecast new product sales more accurately than traditional methods. The research also reveals a key link between online buzz and firm stock prices, allowing for immediate capitalization on the new product.