BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Email automation is a clear-cut example of prescriptive analytics at work. Marketers use email automation to sort leads into categories based on their motivations, mindsets, and intentions and deliver email content to them based on those categories.

Detailed explanation-2: -Revenue Management software tracks demand and sales on each individual flight and departure and will detect even a slight dip in demand on a single flight. It responds by making automatic changes to the inventory, optimising settings and allowing more discounted seats to become available.

Detailed explanation-3: -In airline companies, Prescriptive algorithms adjust the availability of tickets and their prices on the basis of factors like traveller demand, fuel prices, etc. Even hotel booking websites use the same algorithms to determine pricing and sales pitches as per customer preferences.

Detailed explanation-4: -Revenue Management (RM) is a backbone of the airline business. Over the years, the industry has developed sophisticated systems for forecasting demand, managing inventory, and responding to competitors’ prices in the market.