Our company was created in to address the emerging optimization needs of the media industry. Mereo actually Media Revenue Optimization! We have since been working day in, day out with three industries that each have their own set of challenges and wish to implement Revenue Management strategies.
The challenges of Revenue Management
Introduced in the airline industry at the end of the 70s, this optimization technique has since spread across numerous sectors of our economy. With a limited and ‘perishable’ inventory, those businesses face a fluctuating seasonal demand whose price sensitivity is different from one client to another.
In that context, revenue managers strive to sell at the right time, to the right client, and at the right price! To reach that goal, they need to structure and price their offer, forecast demand and segment their clients in the most accurate way possible. Thorough data analysis and comprehensive understanding of the market are essential to drive your business and take the best optimisation decisions.
In an increasingly competitive environment and with the rise of artificial intelligence, optimization techniques are constantly evolving. Today Revenue Management is a clever blend of forecast, optimization levers, and business intelligence adapted to each industry.
Although each company faces its own challenges, the optimization questions it is confronted with remain universal.