What is involved in Yield Management
Find out what the related areas are that Yield Management connects with, associates with, correlates with or affects, and which require thought, deliberation, analysis, review and discussion. This unique checklist stands out in a sense that it is not per-se designed to give answers, but to engage the reader and lay out a Yield Management thinking-frame.
How far is your company on its Yield Management journey?
Take this short survey to gauge your organization’s progress toward Yield Management leadership. Learn your strongest and weakest areas, and what you can do now to create a strategy that delivers results.
To address the criteria in this checklist for your organization, extensive selected resources are provided for sources of further research and information.
Start the Checklist
Below you will find a quick checklist designed to help you think about which Yield Management related domains to cover and 153 essential critical questions to check off in that domain.
The following domains are covered:
Yield Management, Legacy carriers, Expected Marginal Seat Revenue, Customer service, Variable cost, Global economy, Customer base, Behavioral Operations Research, American Airlines, National Car Rental, Dynamic programming, Backstage pass, Variable pricing, Revenue Analytics, Real time policy, Die Zeit, Global Distribution System, Fixed price, Real-time charging, Price discrimination, Software bug, Mathematical models, Multifamily Executive Magazine, Pricing power, Yield Management, Algorithmic pricing, Control system, Last minute advertising, Neural network, Length of stay, Low cost carrier, Multi-family residential, Communications service provider, Luxury vehicles, Capacity management, Hospitality industry, Supply and demand, Airline seat, Revenue shortfall, Car rental, Cruise line, Littlewood’s rule, National Railway, Market segmentation, General Motors, People Express Airlines, Mass production, Customer satisfaction, Weighted mean, Corporate image:
Yield Management Critical Criteria:
Map Yield Management adoptions and remodel and develop an effective Yield Management strategy.
– How can we incorporate support to ensure safe and effective use of Yield Management into the services that we provide?
– How likely is the current Yield Management plan to come in on schedule or on budget?
– What are internal and external Yield Management relations?
Legacy carriers Critical Criteria:
Map Legacy carriers tasks and look for lots of ideas.
– Do we aggressively reward and promote the people who have the biggest impact on creating excellent Yield Management services/products?
– Is maximizing Yield Management protection the same as minimizing Yield Management loss?
– How do we go about Comparing Yield Management approaches/solutions?
Expected Marginal Seat Revenue Critical Criteria:
Guide Expected Marginal Seat Revenue planning and summarize a clear Expected Marginal Seat Revenue focus.
– What are your results for key measures or indicators of the accomplishment of your Yield Management strategy and action plans, including building and strengthening core competencies?
– Have all basic functions of Yield Management been defined?
Customer service Critical Criteria:
Cut a stake in Customer service decisions and integrate design thinking in Customer service innovation.
– Do we Phrase questions simply and avoid the use of closed-ended questions that require a yes or no? do we Watch our customers nonverbal responses in order to gauge his or her reactions to our questions? Some cultures believe that questioning someone is intrusive and therefore avoid it. This is especially true if the questions involve personal information eg How is your family?
– Customer Service What is the future of CRM with regards to Customer Service five years from now, What Technologies would affect it the most and what trends in Customer Service landscape would we see at that time?
– Have senior executives clearly identified and explained concerns regarding Customer Service issues and other change drivers, and emphasized that major improvements are imperative?
– How much more would you be willing to spend with a company that you believe provides excellent Customer Service?
– How does our company use its web-site for Customer Service and / or customer relationship building?
– How does your company use its web-site for Customer Service and or customer relationship building?
– What kind of qualities would staff members who deliver stellar Customer Service possess?
– And to what extent do your suppliers and subcontractors affect your overall package?
– What are some considerations for improving communication in a diverse environment?
– What do you do when you loose your temper with a Customer Service professional?
– Ow often do you hear people complaining about poor Customer Service?
– What percentage of calls is correctly routed to your department?
– Do we include enough information without over-explaining?
– How can Customer Service be improved?
– Who should use this self assessment?
– What really is Customer Service?
– Are staff friendly and helpful?
– Why does your company exist?
– So WHY Do WE Care?
Variable cost Critical Criteria:
Drive Variable cost failures and separate what are the business goals Variable cost is aiming to achieve.
– Do you monitor the effectiveness of your Yield Management activities?
– How do we go about Securing Yield Management?
Global economy Critical Criteria:
Meet over Global economy engagements and catalog what business benefits will Global economy goals deliver if achieved.
– Do we cover the five essential competencies-Communication, Collaboration,Innovation, Adaptability, and Leadership that improve an organizations ability to leverage the new Yield Management in a volatile global economy?
– Do those selected for the Yield Management team have a good general understanding of what Yield Management is all about?
– How do senior leaders actions reflect a commitment to the organizations Yield Management values?
Customer base Critical Criteria:
Weigh in on Customer base decisions and spearhead techniques for implementing Customer base.
– How representative is twitter sentiment analysis relative to our customer base?
– Are we making progress? and are we making progress as Yield Management leaders?
– How well does the product fit our current customer base?
– What are the business goals Yield Management is aiming to achieve?
– What are the demographics of the customer base?
Behavioral Operations Research Critical Criteria:
Weigh in on Behavioral Operations Research engagements and explore and align the progress in Behavioral Operations Research.
– What is the total cost related to deploying Yield Management, including any consulting or professional services?
– How do we manage Yield Management Knowledge Management (KM)?
– Why should we adopt a Yield Management framework?
American Airlines Critical Criteria:
Win new insights about American Airlines engagements and intervene in American Airlines processes and leadership.
– What is the purpose of Yield Management in relation to the mission?
– Is the scope of Yield Management defined?
National Car Rental Critical Criteria:
Design National Car Rental tasks and mentor National Car Rental customer orientation.
– What are the success criteria that will indicate that Yield Management objectives have been met and the benefits delivered?
– Why is it important to have senior management support for a Yield Management project?
Dynamic programming Critical Criteria:
Collaborate on Dynamic programming outcomes and do something to it.
– What prevents me from making the changes I know will make me a more effective Yield Management leader?
– What are our Yield Management Processes?
Backstage pass Critical Criteria:
Have a session on Backstage pass issues and prioritize challenges of Backstage pass.
– Think about the people you identified for your Yield Management project and the project responsibilities you would assign to them. what kind of training do you think they would need to perform these responsibilities effectively?
– Where do ideas that reach policy makers and planners as proposals for Yield Management strengthening and reform actually originate?
– Can Management personnel recognize the monetary benefit of Yield Management?
Variable pricing Critical Criteria:
Detail Variable pricing quality and handle a jump-start course to Variable pricing.
– What are the short and long-term Yield Management goals?
Revenue Analytics Critical Criteria:
Recall Revenue Analytics engagements and get answers.
– Think about the functions involved in your Yield Management project. what processes flow from these functions?
– Does Yield Management analysis show the relationships among important Yield Management factors?
– What is our Yield Management Strategy?
Real time policy Critical Criteria:
Interpolate Real time policy engagements and cater for concise Real time policy education.
– How do we measure improved Yield Management service perception, and satisfaction?
– Does the Yield Management task fit the clients priorities?
Die Zeit Critical Criteria:
Do a round table on Die Zeit adoptions and slay a dragon.
– What business benefits will Yield Management goals deliver if achieved?
Global Distribution System Critical Criteria:
Confer over Global Distribution System leadership and explore and align the progress in Global Distribution System.
– How do we make it meaningful in connecting Yield Management with what users do day-to-day?
– What are the long-term Yield Management goals?
Fixed price Critical Criteria:
Inquire about Fixed price risks and catalog what business benefits will Fixed price goals deliver if achieved.
– Are the organizations current procurement rules and culture set-up to approve and finance fluctuating costs, i.e. pay-per-use over fixed price services?
– How do mission and objectives affect the Yield Management processes of our organization?
Real-time charging Critical Criteria:
Adapt Real-time charging goals and catalog what business benefits will Real-time charging goals deliver if achieved.
Price discrimination Critical Criteria:
Have a meeting on Price discrimination issues and transcribe Price discrimination as tomorrows backbone for success.
– In the case of a Yield Management project, the criteria for the audit derive from implementation objectives. an audit of a Yield Management project involves assessing whether the recommendations outlined for implementation have been met. in other words, can we track that any Yield Management project is implemented as planned, and is it working?
– What other organizational variables, such as reward systems or communication systems, affect the performance of this Yield Management process?
– How to deal with Yield Management Changes?
Software bug Critical Criteria:
Refer to Software bug tactics and integrate design thinking in Software bug innovation.
– How can the value of Yield Management be defined?
– How do we maintain Yield Managements Integrity?
Mathematical models Critical Criteria:
Facilitate Mathematical models adoptions and slay a dragon.
– What knowledge, skills and characteristics mark a good Yield Management project manager?
– Who will provide the final approval of Yield Management deliverables?
Multifamily Executive Magazine Critical Criteria:
Exchange ideas about Multifamily Executive Magazine governance and stake your claim.
– What may be the consequences for the performance of an organization if all stakeholders are not consulted regarding Yield Management?
– What are your most important goals for the strategic Yield Management objectives?
– Is there any existing Yield Management governance structure?
Pricing power Critical Criteria:
Be clear about Pricing power quality and simulate teachings and consultations on quality process improvement of Pricing power.
– How do we Improve Yield Management service perception, and satisfaction?
– What are specific Yield Management Rules to follow?
Yield Management Critical Criteria:
Analyze Yield Management risks and cater for concise Yield Management education.
– Who will be responsible for making the decisions to include or exclude requested changes once Yield Management is underway?
– How do we know that any Yield Management analysis is complete and comprehensive?
– Do we all define Yield Management in the same way?
Algorithmic pricing Critical Criteria:
Nurse Algorithmic pricing failures and ask questions.
– How do we ensure that implementations of Yield Management products are done in a way that ensures safety?
– Have the types of risks that may impact Yield Management been identified and analyzed?
Control system Critical Criteria:
Own Control system governance and integrate design thinking in Control system innovation.
– Has your organization conducted a cyber risk or vulnerability assessment of its information systems, control systems, and other networked systems?
– How can you experiment with a complex change and benefit from the version control system without making the change public?
– Among the Yield Management product and service cost to be estimated, which is considered hardest to estimate?
– Is Cybersecurity integrated between business systems and control systems?
– What is a Management Control System?
– What is your quality control system?
Last minute advertising Critical Criteria:
Confer over Last minute advertising goals and balance specific methods for improving Last minute advertising results.
– What sources do you use to gather information for a Yield Management study?
– What will drive Yield Management change?
Neural network Critical Criteria:
Rank Neural network projects and tour deciding if Neural network progress is made.
– For your Yield Management project, identify and describe the business environment. is there more than one layer to the business environment?
– In a project to restructure Yield Management outcomes, which stakeholders would you involve?
– What are our needs in relation to Yield Management skills, labor, equipment, and markets?
Length of stay Critical Criteria:
Analyze Length of stay visions and find answers.
– Record-keeping requirements flow from the records needed as inputs, outputs, controls and for transformation of a Yield Management process. ask yourself: are the records needed as inputs to the Yield Management process available?
– Do the Yield Management decisions we make today help people and the planet tomorrow?
– Which individuals, teams or departments will be involved in Yield Management?
Low cost carrier Critical Criteria:
Inquire about Low cost carrier management and achieve a single Low cost carrier view and bringing data together.
– What new services of functionality will be implemented next with Yield Management ?
– Is Supporting Yield Management documentation required?
– What are the usability implications of Yield Management actions?
Multi-family residential Critical Criteria:
Test Multi-family residential engagements and track iterative Multi-family residential results.
Communications service provider Critical Criteria:
Guard Communications service provider leadership and prioritize challenges of Communications service provider.
– What are your current levels and trends in key measures or indicators of Yield Management product and process performance that are important to and directly serve your customers? how do these results compare with the performance of your competitors and other organizations with similar offerings?
– If voip is classified as a telecommunications service, should access charges for it be different from those paid by non-ip-enabled telecommunications service providers?
Luxury vehicles Critical Criteria:
Learn from Luxury vehicles leadership and raise human resource and employment practices for Luxury vehicles.
– In what ways are Yield Management vendors and us interacting to ensure safe and effective use?
– How does the organization define, manage, and improve its Yield Management processes?
– Does Yield Management appropriately measure and monitor risk?
Capacity management Critical Criteria:
Explore Capacity management planning and finalize the present value of growth of Capacity management.
– Are there any easy-to-implement alternatives to Yield Management? Sometimes other solutions are available that do not require the cost implications of a full-blown project?
– How do you incorporate cycle time, productivity, cost control, and other efficiency and effectiveness factors into these Yield Management processes?
– Application sizing is a technique used by capacity management. why is application sizing important?
Hospitality industry Critical Criteria:
Interpolate Hospitality industry management and create Hospitality industry explanations for all managers.
– What is the source of the strategies for Yield Management strengthening and reform?
– Think of your Yield Management project. what are the main functions?
Supply and demand Critical Criteria:
Grade Supply and demand governance and gather practices for scaling Supply and demand.
– How can skill-level changes improve Yield Management?
Airline seat Critical Criteria:
Review Airline seat results and slay a dragon.
– What will be the consequences to the business (financial, reputation etc) if Yield Management does not go ahead or fails to deliver the objectives?
Revenue shortfall Critical Criteria:
Judge Revenue shortfall management and tour deciding if Revenue shortfall progress is made.
– Does Yield Management systematically track and analyze outcomes for accountability and quality improvement?
– Can we do Yield Management without complex (expensive) analysis?
Car rental Critical Criteria:
Investigate Car rental governance and document what potential Car rental megatrends could make our business model obsolete.
– How do we Identify specific Yield Management investment and emerging trends?
– Are we Assessing Yield Management and Risk?
Cruise line Critical Criteria:
Experiment with Cruise line quality and develop and take control of the Cruise line initiative.
– What are the disruptive Yield Management technologies that enable our organization to radically change our business processes?
Littlewood’s rule Critical Criteria:
Examine Littlewood’s rule failures and perfect Littlewood’s rule conflict management.
National Railway Critical Criteria:
Map National Railway projects and get answers.
Market segmentation Critical Criteria:
Track Market segmentation tactics and do something to it.
– How do you determine the key elements that affect Yield Management workforce satisfaction? how are these elements determined for different workforce groups and segments?
– Can we establish a new market segmentation strategy focused on potential profitability and willingness to purchase?
– How important is Yield Management to the user organizations mission?
– What is Effective Yield Management?
General Motors Critical Criteria:
Air ideas re General Motors planning and finalize the present value of growth of General Motors.
People Express Airlines Critical Criteria:
Map People Express Airlines tasks and modify and define the unique characteristics of interactive People Express Airlines projects.
– What are current Yield Management Paradigms?
Mass production Critical Criteria:
Think about Mass production goals and define Mass production competency-based leadership.
– Is Yield Management Realistic, or are you setting yourself up for failure?
Customer satisfaction Critical Criteria:
Confer re Customer satisfaction governance and finalize the present value of growth of Customer satisfaction.
– Do we Make sure to ask about our vendors customer satisfaction rating and references in our particular industry. If the vendor does not know its own rating, it may be a red flag that youre dealing with a company that does not put Customer Service at the forefront. How would a company know what to improve if it had no idea what areas customers felt were lacking?
– What is the difference, if any, in customer satisfaction between the use and results of agile-driven software development methods and the use and results of plan-driven software development software development methods?
– How important are hard measurements that show return on investment compared to soft measurements that demonstrate customer satisfaction and public perception?
– Performance Standard: What should be the standards for completeness, reliability, accuracy, timeliness, customer satisfaction, quality and/or cost?
– Has it re-engineered or redesigned processes, and leveraged technologies to improve responsiveness, Customer Service and customer satisfaction?
– How does the company manage the design and delivery of products and services that promise a high level of customer satisfaction?
– Is the Customer Satisfaction Process something which you think can be automated via an IVR?
– How does the firm measure and monitor client service and customer satisfaction?
– Have you identified your Yield Management key performance indicators?
– What employee characteristics drive customer satisfaction?
Weighted mean Critical Criteria:
Generalize Weighted mean strategies and adopt an insight outlook.
– How would one define Yield Management leadership?
Corporate image Critical Criteria:
Scrutinze Corporate image projects and secure Corporate image creativity.
– Will Yield Management have an impact on current business continuity, disaster recovery processes and/or infrastructure?
– What are the top 3 things at the forefront of our Yield Management agendas for the next 3 years?
– Is a Yield Management Team Work effort in place?
This quick readiness checklist is a selected resource to help you move forward. Learn more about how to achieve comprehensive insights with the Yield Management Self Assessment:
Author: Gerard Blokdijk
CEO at The Art of Service | theartofservice.com
Gerard is the CEO at The Art of Service. He has been providing information technology insights, talks, tools and products to organizations in a wide range of industries for over 25 years. Gerard is a widely recognized and respected information expert. Gerard founded The Art of Service consulting business in 2000. Gerard has authored numerous published books to date.
To address the criteria in this checklist, these selected resources are provided for sources of further research and information:
Yield Management External links:
What is Yield Management? definition and meaning
Expected Marginal Seat Revenue External links:
Expected Marginal Seat Revenue – How is Expected …
EMSR abbreviation stands for Expected Marginal Seat Revenue
Customer service External links:
ODJFS | Child Support Customer Service Portal
Bank of America Customer Service
Customer Service – Wells Fargo
Variable cost External links:
Variable Cost Essay – 2969 Words – StudyMode
Variable Cost – Investopedia
Variable Cost Definition | Investopedia
Customer base External links:
Simple Sales Tips for Growing Your Customer Base
American Airlines External links:
American Airlines – Login
American Airlines AAdvantage Frequent Flyer Program
American Airlines – Login
National Car Rental External links:
National Car Rental – Official Site
National Car Rental Curacao | Service and Quality
Dynamic programming External links:
Dynamic Programming Practice Problems
algorithm – What is dynamic programming? – Stack Overflow
[PDF]Risk-Averse Approximate Dynamic Programming …
Backstage pass External links:
Backstage Pass – My Account | Musician’s Friend
FYE – Backstage Pass
Casino Backstage Pass | Hard Rock Hotel and Casino
Variable pricing External links:
Variable pricing — AccountingTools
2017 VARIABLE PRICING | Miami Dolphins
[PDF]Variable Pricing Case Study – expocad.com
www.expocad.com/pdfs/LSR Variable Pricing Case Study.pdf
Revenue Analytics External links:
Retail Sales Forecasting Software | Revenue Analytics
Revenue Analytics – Official Site
Revenue Analytics, Inc. – Hired
Global Distribution System External links:
Global Distribution System (GDS) Contract – RezOvation
Global Distribution System Compatibility | RezOvation
Ingresso – the Global Distribution System for entertainment
Fixed price External links:
Fixed Price Agreement Procedures | Kent State University
Fixed Price Residual Policy | Policies & Procedures
MO Fixed Price Vehicles
Price discrimination External links:
Price Discrimination – Investopedia
What Every Business Should Know About Price Discrimination
ERIC – Marketing Theory Applied to Price Discrimination …
Software bug External links:
iPad software bug fix? | Verizon Community
Software Bug Report – Formsite
Mathematical models External links:
ERIC – Building Mathematical Models of Simple Harmonic …
Mathematical models (eBook, 2010) [WorldCat.org]
Mathematical models (Book, 1981) [WorldCat.org]
Multifamily Executive Magazine External links:
Multifamily Executive Magazine: Best Reuse of Land, …
Pricing power External links:
What is PRICING POWER – Black’s Law Dictionary
pricing power | Hallmark Abstract LLC
Yield Management External links:
What is Yield Management? definition and meaning
Algorithmic pricing External links:
Algorithmic Pricing Is Creating An Arms Race On …
Control system External links:
Access Control System — Main Logon
BrewJacket – Homebrew Lager Temperature Control System
Tesco Controls Inc. | Control System Integrator
Last minute advertising External links:
Last Minute Advertising in Medford, OR with Reviews – …
Neural network External links:
Neural Network Console
Neural Network Console Docs – Blog – Neural Network Console
Neural Network Libraries
Length of stay External links:
The Length of Stay (LOS) report in LTC Trend Tracker calculates the median LOS for all new admissions from a hospital. As well as the percentage of new admissions who have stays of 7 days or fewer, 14 days or fewer, 20 days or fewer and. 45 days or fewer.
Communications service provider External links:
Lithexcel, Marketing and Communications Service Provider
Communications Service Provider – Opus Networks
Luxury vehicles External links:
New GMC Denali Luxury Vehicles | Luxury Trucks and SUVs
Porsche of Melbourne Dealership | New & Used Luxury Vehicles
2017 Lincoln® Black Label Luxury Vehicles & …
Capacity management External links:
[PDF]TITLE: CAPACITY MANAGEMENT PLAN …
Metron – Capacity Management, Planning & Optimization
ITSM SERVICE BRIEF – ITSM CAPACITY MANAGEMENT RL ConsultingRL Consulting Page – 2 People • Process • Technology Organization • Integration
Capacity management review. (eJournal / eMagazine, …
Hospitality industry External links:
Why the hospitality industry is ready for change – Chase Bank
Hospitality Industry Press – Magna Hospitality Group …
HD Expo | Hospitality Industry Products & Design
Supply and demand External links:
Law Of Supply And Demand – investopedia.com
Airline seat External links:
How to Pick a Great Airline Seat – YouTube
A Quick Guide to Airline Seat Width – SmarterTravel
Revenue shortfall External links:
[PDF]REVENUE SHORTFALL – Oklahoma
www.ok.gov/doc/documents/Revenue Shortfall Aug1209.pdf
Car rental External links:
National Car Rental – Official Site
Payless Car Rental – Official Site
Car Rental Promo Codes – Rental Cars From $8.99/Day
Ad · www.hotwire.com/Car/Rentals
Cruise line External links:
Disney Cruise Line – Official Site
GCT – Grand Circle Travel & Grand Circle Cruise Line
Destinations – Norwegian Cruise Line
National Railway External links:
National Railway Museum, Port Adelaide – Home | Facebook
Baltimore Chapter, National Railway Historical Society – …
Canadian National Railway (USA): NYSE:CNI quotes & …
Market segmentation External links:
Market segmentation (Book, 1972) [WorldCat.org]
Title | Market Segmentation | Market (Economics)
Examples of Market Segmentation | Chron.com
General Motors External links:
Login : General Motors Media Management Platform
People Express Airlines External links:
People Express Airlines, Inc. v. Consolidated Rail Corp.
People Express Airlines Alumni Reunion Custom Ink …
Mass production External links:
Mass Production – Firecracker!! – YouTube
[PPT]MASS PRODUCTION – Kişisel Sayfalar – deu.edu.tr
Mass production. (Journal, magazine, 1946) [WorldCat.org]
Customer satisfaction External links:
Weis Customer Satisfaction Survey
Welcome to the Murphy USA and Murphy Express Customer Satisfaction Survey. We appreciate your participation and value your candid feedback. Survey Code:-
Move.mil – Claims/Customer Satisfaction Survey – Claims
Murphy Customer Satisfaction Survey – Welcome
Weighted mean External links:
Tariff rate, applied, weighted mean, all products (%) | Data
Statistics – Find the weighted mean – YouTube
Weighted Mean – Math Is Fun
Corporate image External links:
Corporate Image, Product Demonstration, and Training …