Authors: Vinaysingh Chawan
Addresses: IIM Indore Campus, B-201, Faculty Block B, Prabandh Shikhar, Rau, Indore 453331, Madhya Pradesh, India
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.
Keywords: revenue management; customer relationship management; CRM; enhancing performance; CRM metrics.
International Journal of Business Information Systems, 2018 Vol.27 No.4, pp.493 - 511
Received: 29 Mar 2016
Accepted: 29 Sep 2016
Published online: 09 Mar 2018 *