Revenue management (RM) is the science of maximizing the sales and price per unit of inventory;
For most industries, a mix of computer models and human judgment are required for RM decision-making. The hotel industry serves as an ideal example. RM packages designed for the hotel industry allow for real-time monitoring of capacity utilization, integration with forecasts and advanced analytics.
via Human Error in Revenue Management Decision-Making. – Tuesday, 28th January 2014 at 4Hoteliers.
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