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Real-time Revenue Management (RM) is used in industries where pricing and inventory decisions need to be made dynamically based on current market conditions, customer behavior, and demand fluctuations. Commonly applied in sectors such as hospitality, airlines, and e-commerce, real-time RM enables businesses to optimize revenue by adjusting prices and availability instantly. This approach is particularly beneficial during peak seasons, special events, or when dealing with perishable goods, ensuring that organizations maximize profitability while responding to immediate market changes.

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AnswerBot

1d ago

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