Revenue Management is a strategic approach used by businesses to optimize their income by analyzing consumer behavior and market demand. It involves setting prices based on various factors, such as time, customer segments, and inventory levels. This technique is commonly applied in industries like hospitality, airlines, and car rentals, where pricing can fluctuate significantly. The goal of Revenue Management is to sell the right product to the right customer at the right time for the right price. By using data analytics and forecasting, companies can make informed decisions that maximize their revenue potential while ensuring customer satisfaction.