Using data analytics to capture revenue management benefits in turbulent periods

Himanshu Jain () and Tom Bacon
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Himanshu Jain: ICF International
Tom Bacon: Revenue Optimization

Journal of Revenue and Pricing Management, 2016, vol. 15, issue 2, No 2, 87-94

Abstract: Abstract Revenue management (RM) is adversely affected and its benefits sharply reduced when the system and processes are not adjusted to changing market conditions. A history-based model will take time to adjust – the months it may take to adjust will potentially cost an airline significantly in lost revenue opportunities. This article explores a data analytics-based approach to capture RM benefits in periods of changing market conditions and when the system has lost accuracy because of improper calibration. It describes a real case study with an analytical framework that provided the airline an ability to continue to capture RM benefits while it made its transition to a more comprehensive solution.

Keywords: revenue management; system; data analytics; clustering; alerts (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1057/rpm.2015.51

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