Redesigned Event Valuation Process
The Georgia World Congress Center
The World Congress Center's (GWCC) Redesigned Event Valuation Process sought to optimize room assignments, update cost prediction methods, and suggest profit margins. The resulting web application was strategically developed to help visualize event placement based on available space and client needs.
The application aids in prioritizing events, increasing net profit, and bolstering a sales team striving to increase revenue while keeping costs low. GWCC, along with eight industrial engineering seniors from the Georgia Institute of Technology, created the application from scratch. It uses a mixed integer linear model, a dimensional coordinate to reflect the maintenance of event services, and a weight coefficient for distance.
GWCC build the web-based room assignment model using Gurobi optimization to produce profit increases. Using data to help guide profit, the GWCC sales team members can see the impact of their pricing decisions. The information encourages collaboration within the team to manage profit margins.