by Vijaylakshmi 
Today, we celebrate the birthday of IDeaS co-founders, Dr. Ravi Mehrotra and Sanjay Nagalia, and the groundbreaking field of revenue science they pioneered. Sure, it might not have the obvious broad appeal of National Doughnut Day among office workers, but the story of the people who’ve inspired it is worth knowing.Their journey began on a train bound for the Indian Institute of Technology, where a shared passion for problem-solving ignited a lifelong partnership. After successful careers, they reunited with a shared vision: to revolutionize revenue management through data and technology.IDeaS was born from this vision, with a mission to replace gut feelings with data-driven decision-making. By combining computer science, mathematics, and a deep understanding of the hospitality industry, they created a solution that empowers hoteliers around the world to optimize revenue and profitability.Revenue Science Drives Growth, Results for IDeaSRavi and Sanjay admit they had a reputation as “mad scientists” at first. But that reputation was soon augmented as they began to prove how IDeaS’ technology could significantly grow revenue and improve efficiencies, first with a route optimization platform built for Northwest Airlines (now Delta) and now with industry-leading revenue management tools for hotels.In the early days of IDeaS’ shift to working in the hospitality industry, Ravi and Sanjay worked to scientifically explore the industry and understand the specific challenges of hotel businesses. They reverse-modeled everyday revenue problems to understand each factor and its business impact. Focusing first on length of stay and overbooking, their earliest systems were a success, but IDeaS’ growing team suspected the true revenue problem for hotels involved pricing—specifically price versus demand.Advances in data analytics and processing power would soon confirm this suspicion, and IDeaS software began equipping hotel revenue managers to use pricing as a lever to calibrate demand. This empowered revenue managers and other close stakeholders to make profitable decisions regarding which guests should be granted rooms and at what rate.By combining the power of empirical science, predictive analytics, advanced mathematics, and sophisticated technology, they pioneered revenue science and were instrumental in shaping the future of the hotel industry.Driving Hospitality Success with Revenue ScienceBecause of IDeaS’ relentless focus on innovation and client success, revenue science has transformed the hospitality industry by providing hoteliers with the tools to:Make data-driven decisions: Replace gut feelings with actionable insights.Optimize pricing: Maximize revenue through dynamic pricing strategies.Improve forecasting accuracy: Better predict demand and adjust operations accordingly.Enhance guest experience: Deliver personalized offers and services.IDeaS pioneered revenue management, and we’re proud to continue to be at the forefront of revenue science and look forward to continuing to shape the future of the hospitality industry.A WORTHY INVESTMENT | See our latest report highlighting the ROI of revenue scienceA History of Revenue Science Success Worth CelebratingThe story of IDeaS is one of ceaseless evolution and reinvention, driven by passionate, curious people. Our methods and applications have been tested and proven, time and again, and get better with each iteration to maintain a finely tuned ecosystem of algorithms, industry knowledge, and decision empowerment.Our solutions are built upon decades of discovery and refinement. Our history, industry leadership, and unparalleled client success gives us full confidence in the ability of our systems to provide our clients with precise, data-driven decisions they can trust.Now, as we celebrate their birthdays and Revenue Science Day, we salute all they’ve achieved and all that revenue science represents. From strangers on a train to leaders of the most trusted revenue solutions provider for the global hospitality industry, our trailblazing founders have made an incredible journey thus far—and continue to push us all toward exciting new frontiers.Happy birthday to Ravi and Sanjay—and happy Revenue Science Day to all!Love to geek out about the science driving better revenue decisions? Help us celebrate #RevenueScienceDay by following us on LinkedIn and joining in on the fun!
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