Genetic algorithm based airlines booking terminal open/close decision system

Abstract

With the increasing interest in decision support systems and the continuous advance of computer science, revenue management is a discipline which has received a great deal of interest in recent decades. Revenue management is the control of inventory and pricing of a perishable product in order to improve the efficiency of its marketing. Although revenue management has seen many new applications throughout the years, the main focus of research continues to be the airline industry. In the proposed system, in order to maximize the revenue of airline, an optimized flight booking and transportation terminal open/close decision system is presented using Genetic Algorithm. In this system, the particular booking terminal's historical booking data is observed. Consequently, its frequency is generated with linguistic variable and deviation of booking is interpreted. Using the observed data and genetic algorithm, the terminal open/close decision system is optimized. Finally, the experimentation is performed with the synthetic data to prove the significance of the system.