Holiday Retirement earns Edelman Award
Holiday Retirement won the 2017 Franz Edelman Award for Achievement in Operations Research and the Management Sciences from INFORMS for its use of operations research (O.R.) to improve the pricing model for its more than 300 senior living communities across the United States.
The prestigious Edelman Award, considered the “Super Bowl” of O.R. practice, was presented at an Oscar-like gala held in conjunction with the INFORMS Conference on Business Analytics & Operations Research in April in Las Vegas following a nearly year-long process that included vetting and site visits followed by judged presentations by finalists at the conference.
With approximately $1 billion in annual revenue, Holiday Retirement is the largest private owner and operator of independent senior living communities in the United States. The company partnered with Prorize LLC, an Atlanta-based revenue management firm that leveraged O.R. to develop its senior living rent optimizer (SLRO), the first revenue management system in the industry. The SLRO system enables a consistent and proactive pricing process across Holiday, while simultaneously providing optimal pricing recommendations for each unit in every one of their communities.
“We are thrilled to be presented with the Franz Edelman Award, which recognizes the greatest achievement and most significant impact in operations research and analytics. This is an incredible accomplishment and honor,” said Scott Shanaberger, chief operating officer at Holiday Retirement. “This recognition is the realization of the hard work and collaboration of many people at both Holiday and Prorize in harnessing the power of operations research to transform our senior living operations and business model.”
This year’s other Edelman Award finalists included:
- American Red Cross for “Analytics-based Blood Collection Methods”
- Barco for “Platform-based Product Development”
- BHP Billiton for “Detailed Integrated Capacity Estimate (DICE) Model”
- General Electric (GE) for “RailConnect 360”
- New York City Department of Transportation for “Off-Hours Delivery (OHD) Program”
First awarded in 1972, the Franz Edelman Award recognizes and rewards outstanding contributions of analytics and O.R. in the for-profit and non-profit sectors around the globe. Each year, INFORMS honors finalist teams that have improved organizational efficiency, increased profits, brought better products to consumers, helped foster peace negotiations, and saved lives. Since its inception, the cumulative dollar benefits from Edelman finalist projects have surpassed $240 billion.
- 62INFORMS announced six finalists for the 46th annual Franz Edelman Award for Achievements in Operations Research and Management Science, the world’s most prestigious award for achievement in the practice of analytics and O.R. The 2017 Edelman Award will be presented at the INFORMS Conference on Business Analytics and Operations Research…
- 60INFORMS announced six finalists for the 46th annual Franz Edelman Award for Achievements in Operations Research and the Management Sciences, the world’s most prestigious award for achievement in the practice of analytics and O.R.
- 54The deadline to apply for 2017 INFORMS Prize is Dec. 1, 2016. The INFORMS Prize is awarded for effective integration of advanced analytics and operations research/management sciences (OR/MS) in an organization.
- 52The 2017 INFORMS Conference on Business Analytics & Operations Research will take place in Las Vegas on April 2-4 at Caesars Palace. Analytics 2017 will bring together nearly a thousand leading analytics professionals and industry experts to share ideas, network and learn through real-life examples of data-based analytical decisions.
- 48The 2017 INFORMS Conference on Business Analytics & O.R. in Las Vegas this spring will feature a special day-long event for a select group of practice-oriented analytics and operations research graduate students. The INFORMS Professional Colloquium (IPC), scheduled for April 2, will provide students nominated by their departments and competitively…