Revenue Management is a strategic pricing approach that businesses use to maximize their profits. It involves analyzing and optimizing the prices of products and services, as well as allocating resources efficiently according to demand. With proper revenue management, businesses can increase their income while minimizing losses. By utilizing data-driven insights, organizations can make informed decisions about pricing and resource allocation, and can better understand their customers’ needs. The goal of revenue management is to improve profits by leveraging data and customer insights to adjust prices and availability dynamically, in order to optimize sales.