Revenue Management
Example
For example, a company that implements Revenue Management strategies, like Hotels use revenue management to adjust room rates., can see significant improvements in their business performance by streamlining workflows, enhancing productivity, and boosting overall profitability.
Definition
The use of analytics to predict consumer behavior at the micro-market level and optimize product availability and price. This term is crucial in the Revenue Management context as it helps businesses understand how to Revenue Management in their operations, making it highly relevant for industries looking to optimize Revenue Management processes.
Disclaimer: The terms and definitions provided in this business dictionary are for informational purposes only. While every effort has been made to ensure accuracy, the content may not be exhaustive and may not be applicable to all business situations. Readers should seek professional advice before making business, legal, or financial decisions based on the information provided. The authors and publishers are not responsible for any errors, omissions, or outcomes related to the use of this dictionary.