Innovating Analyst Productivity Through Real-time Data
Sabre Airline Solutions is running an article series focused on the need for a next-generation revenue management system. The first article released examined how Total Revenue Optimization (TRO) can be realized by implementing a revenue management solution that incorporates real-time data, portfolio integration, advanced analytics, and real-time decision support. The following is a preview into the series’ second article, discussing the benefits of a revenue management system with real-time capabilities.
The airline industry is dynamic. Business challenges continue to evolve for airlines, customer demands and expectations continue to increase, and competition to acquire the right passenger is intense. Not only do these factors affect the success (or failure) of an airline, but they are also the reason why particular functional areas within an airline have become even more essential to achieve success. Revenue management is clearly one area of strategic and tactical importance.
Revenue management (RM) systems were created so airlines could make smarter decisions about what to sell, when to sell, to whom to sell and for which price to sell. While most RM solutions are able to predict the best mix of passengers to maximize revenue, certain challenges still persist, most notably, the latency of the data in the system.
A RM system with real-time capabilities that eliminates data lag, compiles data into one system and presents the data in an easy-to-consume format that improves analysts’ confidence in the data collected is needed. The ability of an RM system to support a quick response to all types of changes in the marketplace — big, small, internal and external — with real-time data is likely to be a game changer for the airline industry.
Want to learn more about how airlines can increase analyst productivity and revenue opportunities through a next-generation revenue management system? Download the article now!