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.
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