TAMPA, Fla. (November 13, 2017) – Revenue Management Solutions (RMS), which provides a data-based approach to menu pricing and optimization to leading restaurants worldwide, was recently selected to
sponsor a project with students in the Master of Science in Analytics (MSA) program at N.C. State University’s Institute for Advanced Analytics.
RMS is one of 22 prominent organizations to be selected to participate in the analytics practicum project, out of 64 companies that applied. The program gives MSA students the opportunity to work on large-scale projects to develop and hone their analytical skills in a real-world setting.
Since 2007, the Institute has worked with over 100 organizations, from industry leaders in banking, retail, manufacturing, technology, and health care, to professional sports clubs and federal agencies. “We’re delighted and grateful to welcome RMS as a sponsor,” said the Institute’s founding director, Dr. Michael Rappa. “It offers students an opportunity to wrestle with the complexity of real world data, which can have meaningful implications for businesses in the future.”
The eight-month-long project will involve a group of five students from the University’s MSA program working with RMS under the guidance of faculty and a project coach from N.C. State. The University’s project with RMS will involve working on different ways to evaluate and validate marketing initiatives, restaurant menu engineering and menu pricing recommendations.
“We see tremendous value in working with students and the next generation of professionals,” said Christina Norton, Director of Associate Relations & Recruitment at RMS. “This project will not only teach the students how our company operates and works with restaurant brands worldwide, but the students will be able to contribute to developing new approaches to our client deliverables.”
The companies that submitted proposals were evaluated on the following for their proposed project: educational value, likelihood of success, level of challenge and complexity, clarity of project goals, sponsor motivation and commitment, and the type and amount of data involved in the project.
The Institute’s mission is to produce the world’s finest analytics practitioners — individuals who have mastered complex methods and tools for large-scale data modeling, who have a passion for solving challenging problems through teamwork, who are guided by intellectual curiosity, honesty and integrity, and who strive to attain the highest level of professionalism through continuous self-improvement.
About Revenue Management Solutions:
Revenue Management Solutions, based in Tampa, Florida USA, is a leader in bringing a data-based approach to pricing and menu optimization for restaurants, providing solutions for a number of leading global restaurant brands, including many of the largest companies in the industry. Since 1994, the company has been successfully providing solutions to clients to increase profit and enhance brand value. RMS assists more than 50 major brands in more than 40 countries, with its patented processes of revenue management used in more than 100,000 locations globally.