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Certified Airline Revenue Management Specialist
Rating: 4.0 out of 5(30 ratings)
80 students

Certified Airline Revenue Management Specialist

The essential course for a analyst with keen eye for optimising finance for an airline
Created byCheryl Venan Dias
Last updated 8/2024
English

What you'll learn

  • Explain the need for airline revenue management
  • Identify the pricing utility and disutility in airline revenue management
  • Differenciate between revenue and yield management
  • Configure seats based on capacity, yield and revenue

Course content

4 sections • 16 lectures • 1h 30m total length

  • History of Airline Revenue Management2:33

    After completing this lecture, the learner will be able to:

    Describe the history of Airline Revenue Management

  • Introduction to pricing and revenue optimization7:23

    After completing this lecture, the learner will be able to:

    Describe the functions of airline pricing

    Explain the process of airline revenue optimization


  • Demand functions and price optimization3:05

    After completing this lecture, the learner will be able to:

    Explain demand functions

    Describe the linear relationship of products demanded

    Identify the factors involved in price optimization

    List the steps taken to optimize prices

  • Price response function5:09

    After completing this lecture, the learner will be able to:

    List the important attributes that influence price response

    Describe the importance of revenue management

    List the approaches used to calculate price response function

  • Demand drivers in revenue management4:07

    After completing this lecture, the learner will be able to:

    Identify the demand drivers in revenue management

    Describe the sample strategies used in the service industry

Requirements

  • Any graduate with basic mathematical skills and good communication skills.

Description

Businesses employ revenue management as an analytical procedure, especially in the services sector such as hospitality and aviation. Its objectives are to forecast service demand, predict client behaviour, and maximize revenue. Revenue management uses analytics and data analysis to project client demand. Businesses can modify their strategy by knowing when and how clients are likely to make service purchases. Knowledge of revenue management will assist you in modifying prices in response to shifts in consumer demand. This could entail setting various rates for peak and off-peak periods or implementing dynamic pricing, which modifies prices in real-time. Revenue management aims to achieve income maximization while satisfying client needs. It will help the learner control inventory as all service sectors, such as golf courses, hotels, and airlines, hold significant inventory. Matching the pricing with the demand can help increase revenue. The course will help learners balance the maintainability of profits while providing competitive prices to clients. Ideally, this course will help you explore consumer behaviours by utilizing pricing-related strategies, identify demand and supply and how they affect revenue management, and identify peak and off-seasonality in determining configuration pricing. The course also requires the learners to be aware of competitors and their strategies to suggest the best fares for their clients.

Who this course is for:

  • Entry level professionals who have a williness to work in the revenue management department

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