Issue link: https://pros.com/learn/i/1020128
P R O D U C T G U I D E PROS Revenue Management Advantage & Real-Time Dynamic Pricing | 1 Generate Significant Revenue Uplift With Real-Time, Accurate Offers PROS Revenue Management Advantage & Real-Time Dynamic Pricing B US I N E SS C H A LLE N G E S Need to remain competitive in dynamic markets and capitalize on revenue opportunities Inability to drill down to or identify key data or analysis needed to make quick business decisions Inability to apply and test strategies and process availability requests in real time across all channels Lack of reliable and proven forecasting and optimization technology to weather the onslaught of change Demand fluctuations and market uncertainty negatively impact ability to forecast demand and optimize revenue In order to solve for this complexity, airlines are looking to proven, dependable technology that allows revenue management teams to react quickly to disruptive market events like pandemics, market closers, competition, and changes in demand. Current industry dynamics has forced airlines to do more with fewer resources than before, leading airlines to eliminate redundancies and dependencies on inflexible systems while driving collaboration between functional areas like distribution, sales, digital, and marketing. Additionally, with so many complicated inputs such as capacity, scheduling, and competitor movements, airlines need a robust revenue management system to keep up. With the right technology, backed by repeated time to value, proven science, and best-in-class UX, revenue management leaders can reduce costs while driving revenue across the business, increasing operations efficiency and productivity. Market Situation Now, more than ever, airlines are faced with unrelenting complexity. Government restrictions, extreme fluctuations in demand, and highly competitive markets make it difficult for revenue management leaders to be confident in their business decisions to drive revenue and operational efficiency.