Related papers: Pricing service maintenance contracts using predic…

This paper is concerned with the determination of pricing strategies for a firm that in each period of a finite horizon receives replenishment quantities of a single product which it sells in two markets, e.g., a long-distance market and an…

We study the design of an optimal insurance contract in which the insured maximizes her expected utility and the insurer limits the variance of his risk exposure while maintaining the principle of indemnity and charging the premium…

Predictive Maintenance (PdM) can only be implemented when the online knowledge of system condition is available, and this has become available with deployment of on-equipment sensors. To date, most studies on predicting the remaining useful…

As the proportion of total power supplied by renewable sources increases, it gets more costly to use reserve generation to compensate for the variability of renewables like solar and wind. Hence attention has been drawn to exploiting…

This work proposes a way to align statistical modeling with decision making. We provide a method that propagates the uncertainty in predictive modeling to the uncertainty in operational cost, where operational cost is the amount spent by…

Demand-side energy management, such as the real-time pricing (RTP) program, offers manufacturers opportunities to reduce energy costs by shifting production to low-price hours. However, this strategy is challenging to implement when machine…

Network management often relies on machine learning to make predictions about performance and security from network traffic. Often, the representation of the traffic is as important as the choice of the model. The features that the model…

We study the problem of pricing variable annuities with a multi-layer expense strategy, under which the insurer charges fees from the policyholder's account only when the account value lies in some pre-specified disjoint intervals, where on…

An effective way for a Mobile network operator (MNO) to improve its revenue is price discrimination, i.e., providing different combinations of data caps and subscription fees. Rollover data plan (allowing the unused data in the current…

Rail transportation success depends on efficient maintenance to avoid delays and malfunctions, particularly in rural areas with limited resources. We propose a cost-effective wireless monitoring system that integrates sensors and machine…

The increasing penetration of renewable energy poses significant challenges to power grid reliability. There have been increasing interests in utilizing financial tools, such as insurance, to help end-users hedge the potential risk of lost…

As Internet applications have become more diverse in recent years, users having heavy demand for online video services are more willing to pay higher prices for better services than light users that mainly use e-mails and instant messages.…

We suggest a mathematical model for computing and regularly updating the next preventive maintenance plan for a wind farm. Our optimization criterium takes into account the current ages of the key components, the major maintenance costs…

In software engineering, software maintenance is the process of correction, updating, and improvement of software products after handed over to the customer. Through offshore software maintenance outsourcing clients can get advantages like…

Armoured vehicles are specialized and complex pieces of machinery designed to operate in high-stress environments, often in combat or tactical situations. This study proposes a predictive maintenance-based ensemble system that aids in…

Systems and machines undergo various failure modes that result in machine health degradation, so maintenance actions are required to restore them back to a state where they can perform their expected functions. Since maintenance tasks are…

Customer retention campaigns increasingly rely on predictive models to detect potential churners in a vast customer base. From the perspective of machine learning, the task of predicting customer churn can be presented as a binary…

Modern manufacturing industries are increasingly looking to predictive analytics to gain decision making information from process data. This is driven by high levels of competition and a need to reduce operating costs. The presented work…

In this paper we describe a general approach to optimal imperfect maintenance activities of a repairable equipment with independent components. Most of the existing works on optimal imperfect maintenance activities of a repairable equipment…

Recently, there is growing interest and need for dynamic pricing algorithms, especially, in the field of online marketplaces by offering smart pricing options for big online stores. We present an approach to adjust prices based on the…