Building Better Revenue Management, Part 2
Credit
CPE:0.5
Publisher
IMA
Description
Revenue management involves using various tools and techniques, including strategic pricing, trend analysis, distribution channel analysis, and costing. Advances in business intelligence technology have changed the availability of data to support revenue management decisions. Today, revenue managers increasingly use analytics to predict customer demand. They integrate that information with other data sources to make fact-based or scientific pricing decisions.
Small and medium-sized enterprises (SME), however, tend to lag behind in the use of revenue management practices, with managers often relying on instinct or basic one-size-fits-all strategies. This course explores the steps SMEs can take to expand their revenue management capabilities and implementation.