Question 2. Are revenue management systems a completive advantage or simply a new necessity for doing business in the airline industry today? What other industries could benefit from the use of a revenue management system? Why.

Since customers can compare fares from all competitor with few mouse clicks. Today airlines fares have become almost totally visible and thus airlines are forced to implement system. if a fares too high, some potential customers could be lost, if the fare is too low, the airline loses out on potential revenue earned. Yes it is necessity for doing business in airline industry, now days airline rely heavily on the use of revenue MIS. These systems forecast the demand for a flight at various fare levels based on historical demand. Without computers, this task would be impossible. The reason for this is large airline with hundreds routes and multiple fare classes, the mathematical modeling required is beyond that of a human being. So I think both of them are critical in airline industry.
Hotel. Because revenue management allows it provide bedrooms for the right customers at right time for the right price, based on analytics and predictions revenue management provides.

Question 3. How could an airline use customer information to gain competitive advantage?

Airline could select those most purchased customers and investigate their profile information to learn their habit in purchasing airlines and competitors, and airlines could improve their business by select useful feedbacks provided by customers and learn the age group and the destinations the business have to focus on and