Atlanta, GA, February 12, 2021 – Prorize, a premier revenue management solution provider, today announced their 15th Anniversary. Prorize was founded in 2006 to help companies recognize patterns from data and dynamically generate revenue-maximizing prices. Since then, Prorize has assisted US and international companies across multiple industries (including gaming, high-tech manufacturing, mobile phone retailing, senior living, and self-storage) to achieve record-breaking results.
Prorize’s roots took shape in the gaming industry when Founder and CEO, Dr. Ahmet Kuyumcu was asked to build the next generation revenue management system for the world’s largest gaming resorts. The multi-year engagement also involved strategic pricing projects such as group demand management, promotion management, and customer choice modeling by simultaneously evaluating all properties in the Las Vegas Strip. The resulting revenue management system was ground-breaking and attracted national attention with coverage in top academic and business journals.
Fast forward to today, Prorize has evolved from being a consulting firm with a unique set of demand modeling tools to a team of over 20 data scientists and engineers who develop top AI-based revenue management software solutions. In particular, Prorize’s Self Storage Revenue OptimizerTM (SSROTM) has set the gold standard in the self-storage industry saving REITs, investment firms, and operators millions of dollars in lost revenue opportunities by forecasting demand and proactively pricing their products.
“It’s amazing to reflect on the continuous innovation, growth and success of Prorize over the past 15 years,” said Dr. Kuyumcu. “For me, the significance of this milestone is the impact we’ve made on customers across multiple industries. It validates the science we have built into our technology and the work of the incredibly talented Prorize team who have been instrumental in our success.”
In 2017 Prorize teamed with client Holiday Retirement and earned the world’s most prestigious recognition for advanced analytics; the Franz Edelman Award. This award, sponsored by the Institute for Operations Research and the Management Sciences (INFORMS®), recognized the outstanding contributions of Prorize’s proprietary software and pricing consultants in helping clients capture maximum revenue from their assets. In the awards’ fifty-year history, Prorize is the only revenue management company to be recognized with the honor.
“Innovation is in our DNA,” said Dr. Kuyumcu. “Our team is never satisfied with our client’s results no matter how good they are. We consistently look for ways to improve our revenue management solution so that our clients consistently experience increased returns.”
Prorize is confident about the future, especially after completing a pandemic 2020 with record revenue, employees and active customers on its AI pricing platform. To celebrate their success and commemorate its 15th Anniversary, Prorize will be making charitable contributions to 15 different organizations that will be selected by its employees throughout 2021. Follow the company’s LinkedIn, Facebook, or Twitter accounts for updates.
Prorize is a global leader in revenue management solutions now serving clients in nine countries across four continents. The only pricing company to ever win the world’s top prize for advanced analytics, the Franz Edelman Award, Prorize’s proprietary software and pricing consultants help clients capture maximum revenue from their assets. Prorize’s data-driven approach focuses on providing value through mutually beneficial transactions and optimum price points allowing for sustainable and profitable growth of the enterprise.