Another trend is that revenue management tools are being linked to other systems, such as customer relationship management (CRM) and enterprise requirements planning (ERP). These tools, like many others, are moving to the cloud to improve affordability, flexibility and scalability.
Subscription-based services are growing in popularity, the report noted. That, in turn, is leading to the development of revenue management industry tools that handle recurring income streams efficiency.
Predictive analytics are increasingly central. These tools are being harnessed to forecast demand, understand market patterns, and take preventive measures to maximize revenue.
Although the hospitality and aviation industries have historically been linked to revenue management, a wider range of businesses, including retail, telecommunications, healthcare, and more, are increasingly utilizing revenue management concepts.
#revenue-management #artificial-intelligence #telecommunications #subscription-services #predictive-analytics
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