Forecast & Optimization
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Forecast and Optimization is a sub domain of the Revenue Management & Pricing domain. Forecast & Optimization covers forecasts of demand, bookings, cancellations, and buy-downs. In addition, no-show figures based on historical, special and expert data are also included in this domain. The domain also caters for the controlling of the forecast and optimization process, which are monitored here. The aim here is to optimize revenue (fare-mix, over bookings) to steer capacity based on average earnings, the management of availability, inventory and reservation data.