Enhancing revenue management systems performance with CRM systems data
12 Mar 2018-International Journal of Business Information Systems (Inderscience Publishers)-Vol. 27, Iss: 4, pp 493-511
TL;DR: Synergies and conflicts that may arise with the simultaneous use of these systems are discussed, and numerous applications that help in enhancing RMS performance are suggested.
Abstract: Revenue management systems (RMS) and customer relationship management (CRM) systems are widely used in today's data enriched environments to improve a firm's profitability. Though these systems are used to improve business profitability, their approach and evolution are different, as a result of which these systems are being used separately. In case of RMS, the focus is on short term tactical revenue optimisation, whereas in case of CRM the focus is on developing long term customer relationships. This paper discusses some ways of enhancing performance of revenue management systems by using CRM data. Synergies and conflicts that may arise with the simultaneous use of these systems are discussed, and numerous applications that help in enhancing RMS performance are suggested.
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TL;DR: In this paper, a quantitative empirical study among chain hotels, based on structural equation modeling, is conducted to identify the effects of the simultaneous implementation of revenue management and CRM on business performance among hospitality firms and to determine whether Market Orientation constitutes a suitable business culture for fostering this joint approach in the online environment.
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