Georgia Perakis

Faculty

Georgia Perakis

About

Georgia Perakis is the William F. Pounds Professor of Management and a Professor of Operations Research, Statistics and Operations Management at the MIT Sloan School of Management. She has been on the faculty at MIT Sloan since July 1998.

Perakis teaches courses and performs research in analytics, optimization, machine learning with applications in pricing, revenue management, supply chains, transportation, energy, and healthcare among others. Over the years, she has taught in a variety of programs such as undergraduate, MS, PhD, MBA and EMBA programs across MIT. For her teaching, Perakis won the Graduate Student Council Teaching Award in 2002, the Jamieson Prize in 2014 for excellence in teaching, and the Teacher of the Year award (among all faculty at the MIT Sloan School) in 2017.In her research, Perakis investigates the theory and practice of analytics and its role in operations problems. She is particularly interested on how to solve complex and practical problems in pricing, revenue management, supply chains, healthcare, transportation, and energy applications among others. She has widely published in some of the flagship journals of the field such as Operations Research, Management Science, M&SOM, Mathematics of Operations Research, Mathematical Programming, and POM.

 She has received the CAREER Award from the National Science Foundation and the PECASE Award from the Office of the President on Science and Technology. In 2016, she was elected as an INFORMS Fellow, and in 2021 she was elected as an MSOM Distinguished Fellow. Both recognize individuals for lifetime achievements to their field. In addition, her work has received recognition with awards such as the TSL Best Paper Award, the Best Paper competition of the Informs Service Science Section several times, as well as Best Application of Theory Award from NEDSI (Northeast Decision Sciences Institute) Conference. Her work on promotions with the Oracle RGBU was a finalist at the Practice Award of the RMP Section of INFORMS in 2015. In addition, her work on predicting demand for new products with Johnson & Johnson won first place at the Applied Research Challenge Competition in 2018. In 2019 and also in 2021 her papers received honorable mention (second place) in the M&SOM practice based best paper competition. Her work was also a finalist at the JD.com competition at the 2019 POM conference as well as in the IAAA (Innovative Applications of Analytics Award). Her paper on subsidies received the 2019 best paper award published in Management Science in the last three years. Finally, her work with her PhD students has also been recognized with several awards including the MSOM Society best student paper award, the Service Science best student paper award, the RMP best dissertation award, the CBOM best student paper award and the POM Supply Chain best student paper award.

Perakis has a passion for supervising PhD, Master's, and undergraduate students and builds lifelong relationships with them. So far, she has graduated twenty-eight PhD and fifty-three Master's students. In 2012, she received the Samuel M. Seegal Award for inspiring students to achieve excellence.

Currently, and since July 2019, she has served as the codirector of the Operations Research Center (interdepartmental PhD program at MIT reporting to the Schwartzman College of Computing and MIT Sloan). She is currently serving on the council for the College of Computing. In addition, since July 2017, she has also served as the faculty director of the Executive MBA (EMBA) program at MIT Sloan. In the past, from 2009 to July 2015, Perakis served as the faculty codirector of the Leaders for Global Operations (LGO, former LFM) Program at MIT (joint program between the Sloan School and the School of Engineering). She has also served as the group head of the Operations Management group from 2010-2017 and finally, as the group Head of the Operations Research and Statistics group at MIT Sloan. 

Perakis is currently the editor in chief of the M&SOM journal. Prior to that role, she had also served as America’s editor in chief of the Journal of Pricing and Revenue Management, as a department editor for the journal Service Science in the area of Analytics and as an associate editor for the flagship journals: Management Science, Operations Research, M&SOM, NFORMS Journal on Optimization, and as a senior editor for POM. She has served as the chair of the RMP Section of INFORMS and as the VP of Meetings of the MSOM Society of INFORMS.  

Perakis holds a BS in mathematics from the University of Athens as well as an MS in applied mathematics and a PhD in applied mathematics from Brown University.    

 

Honors

Perakis wins two INFORMS honors

Perakis appointed editor-in-chief for M&SOM journal

INFORMS honors Perakis with four awards

INFORMS awards Perakis for paper

Perakis wins first prize

INFORMS honors Perakis with best paper award

Georgia Perakis chosen as INFORMS Fellow

Georgia Perakis wins INFORMS award

Publications

"A Data-Driven Approach to Personalized Bundle Pricing and Recommendation."

Ettl, Markus, Pavithra Harsha, Anna Papush, and Georgia Perakis. Manufacturing and Service Operations Management. Forthcoming. Media Mention: HuffPost.

"A Simple Rule for Pricing with Limited Knowledge of Demand."

Cohen, Maxime C., Georgia Perakis, Robert S. Pindyck. Management Science. Forthcoming.

"Detecting Customer Trends for Targeted Optimized Promotions."

Baardman, Lennart, Setareh Borjian Boroujeni, Tamar Cohen-Hillel, Kiran Panchamgam, and Georgia Perakis. Manufacturing and Service Operations Management. Forthcoming. Download Paper.

"Optimal Contract Design for Joint Ventures in the Healthcare Industry."

Cong, Shi, Retsef Levi, Georgia Perakis and Wei Sun. Production and Operations Management. Forthcoming.

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Ideas Made to Matter

Predicting customer trends with sales data

The algorithm calculates customer trends and the most effective targeted promotions.

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Press

MIT Sloan professor uses new method to identify consumer demand trends and improve profits

A study by MIT Sloan Prof. Georgia Perakis found not only can consumer trends be predicted, but that they also can be used to optimize targeted promotions and improve profits by an average of 9.4%.

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