Revenue Management
Businesses need important decisions regarding what to sell, when to sell, to whom to sell, and for how much. Revenue management uses data-driven tactics and strategy to answer these questions in order to increase revenue. The discipline of revenue management combines data mining and operations research with strategy, understanding of customer behaviour, and partnering with the sales force. That is the reason why the revenue management must be analytical and detail oriented, yet capable of thinking strategically and managing the relationship with sales.
Yield Management
strategic control of inventory to sell the right product to the right customer at the right time for the right price Yield management is part of mainstream business theory and practice over the last twenty years. It is a set of yield maximization strategies and tactics to improve the profitability of certain businesses. It is complex because it involves several aspects of management control, including rate management,
revenue streams management, and distribution channel management. Yield management is multidisciplinary because it blends elements of marketing, operations, and financial management into a highly successful new approach. Yield management strategists must frequently work with one or more other departments when designing and implementing yield management strategies.
Ecommerce
E-commerce, also known as electronic commerce or internet commerce, is selling of services using the internet, and the transfer of money and data to execute these transactions.