What does 'Revenue Management' mean?

Revenue Management is a key feature in many software applications that helps organizations to optimize their revenue streams. This feature allows businesses to forecast, analyze, and optimize their pricing and inventory strategies to maximize profits. By leveraging data and analytics, businesses can make informed decisions about pricing, promotions, and product availability to drive revenue growth. One of the main functions of Revenue Management is demand forecasting. This involves using historical data to predict future demand for products or services. By accurately forecasting demand, businesses can adjust their pricing