industry revenue management

Industry revenue management is a strategic approach used by businesses, especially in sectors like hospitality, airlines, and retail, to optimize their income. It involves analyzing data on customer behavior, pricing, and market demand to make informed decisions about pricing and inventory. By adjusting prices based on factors such as time, availability, and customer segments, companies can maximize revenue, improve occupancy rates, and enhance overall profitability. Essentially, it's about selling the right product to the right customer at the right time for the best price.