The continuing evolution: Customer-centric revenue management
Generate an AI Snapshot to get a quick, structured summary of this paper.
A concise AI-generated summary of the paper will appear here once you click Generate AI Snapshot.
TL;DR
A range of initiatives are discussed for acquiring new customers and retaining existing customers, followed by current trends and demands from the airline community.
Abstract
This paper presents a new paradigm for revenue management — customer-centric revenue management. In an effort to retain profitable customers, airlines are investing in advanced analytics to gain insights into customer traits and preferences. Central to the data analytics and data mining initiatives is the revenue management and inventory control process for recommending the right offer to a customer and sales channel. A range of initiatives are discussed for acquiring new customers and retaining existing customers, followed by current trends and demands from the airline community.