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Using data analytics to capture revenue management benefits in turbulent periods

Author

Listed:
  • Himanshu Jain

    (ICF International)

  • Tom Bacon

    (Revenue Optimization)

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.

Suggested Citation

  • Himanshu Jain & Tom Bacon, 2016. "Using data analytics to capture revenue management benefits in turbulent periods," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 15(2), pages 87-94, April.
    • Handle: RePEc:pal:jorapm:v:15:y:2016:i:2:d:10.1057_rpm.2015.51
    DOI: 10.1057/rpm.2015.51
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