Understanding the demand for products and services is vital across business operations. This course provides students with tools and techniques for (i) analyzing and forecasting the demand of a product and (ii) managing this demand through pricing and capacity decisions. Collectively, these tools are referred to as revenue management.
After the course, students will be able to identify appropriate demand analysis and forecasting tools for different types of products and services and apply these tools to practical applications, and understand the value and limits of revenue management tools in controlling demand.
The course will cover demand analytics and forecasting as well as revenue management and price optimization, including the process of identifying problems where employing analytics is appropriate, translating problems into models, and interpreting the results. The topics covered will include, for example, statistical and optimization models applied to settings in e.g., transportation, hospitality, retail, media, and energy.
Heikki Peura
Lecture slides, scientific articles, book chapters, assignments, computer implementations of mathematical models.
Lectures, independent and group work, and exam.
Recommended prerequisites: This course will build on the basics of operations management, statistics, and optimization. In particular, it is strongly recommended that students have completed the following courses:
- ISM-A3002 Tuotannon ja palveluiden johtaminen (Operations and service management),
- ISM-C1002 Tilastotieteen ja data-analytiikan jatkokurssi (Advanced course in statistics and data analytics),
- ISM-C1004 Business Analytics 1, or obtained equivalent skills from other university-level courses.
These skills include the basics of linear algebra, multivariate functions, probability and random variables, regression models, and linear optimization. Experience with a programming language such as R or Python will be useful.
Assignments and exam.
The teaching time and the location of the course can be found at Sisu information system
From the blue bar, click Lecture and open the Groups and teaching times tab to see the teaching time and the location of the course. Exam times can be seen by clicking Exam.
The teacher has four (4) weeks to grade the exam submissions starting from the exam date.
MyCourses online learning environment is a tool for both students and teachers for communication and managing everyday course work. You need an Aalto User ID to log in to the course's MyCourses workspace and participate in teaching.
Digital workspace of the course:
MyCourses
More details on completing the course will be available at MyCourses closer to the start of the course.
Registration for Open University courses is done via the link below:
Course registration
Registration for this course starts on 26.1.2026 at 9.00
Registration for this course ends on 16.2.2026 at 23.59
It is not possible to register before the registration period has started or after it has ended.
The number of participants is limited to 10.
This course is organized by the Aalto University School of Business.
The course fee is paid upon registration for each course at a time and it is binding. Familiarize yourself with registration and payment rules as well as other guidelines for students:
Registration, payments and rules
You can activate your Aalto User ID the day after the registration and you should activate it no later than the day before the start of the course.
Instructions for activating your Aalto user ID
Once you have activated your Aalto user ID, also enable multifactor authentication. Some of Aalto University's services require multifactor authentication.
Read more about studying at the Open University. Do you need individual study arrangements for health reasons? How can I navigate in campus facilities? You can find useful information on how to study at the open university here.
