Effective Resource Allocation and Revenue Generation for Rental Vehicles
摘要
Most of the applications used today on rental vehicles to book, and services provided by the application owner found a few specific challenges such as static pricing, and lack of alerts on demand places. These challenges are overcome by this novel approach which is an integrated approach where dynamic pricing is shown on the seat selection based on preferences and choices, and GPS service is used to monitor places events filled, and auto-alerts to the driver as well as customers on highly filled events. In this domain, many methods such as First Come First Serve, Seat Ranking, Greedy method, Dynamic Programming, etc. but metrics such as accuracy, and performance are the key factors that decide the model’s effectiveness. The specific features are built-in that allow them to change prices by the driver and allow discounts to fill all the seats of the vehicle, which leads to generating income.