Revenue Analyst Position Requirements

As part of our revenue management training, we coach our students in preparing for the job requirements. We spend a large part of our training on analysis and evaluation of the elements of data relative to revenue management and its performance. A good understanding of the key performance indicators and the appropriate levers that need to be changed based on triggers in the environment are crucial to optimal on-going seat allocation strategies and maximized revenues.

Let’s review a typical list of requirements for a Revenue Analyst. If you are interested in a career in this field, could you meet them? Besides studying the basic concepts and theories of revenue management, how could you better prepare yourself to impress your interviewer and shine above your competition, ultimately winning the job?

High Level Objective

• Able to maximize revenue in assigned markets using various tools coupled with experience (e.g., RM system)
• Provide strategic direction within a given market and generates new revenue opportunities (e.g., targeted pricing, schedule and capacity management).
• Provide internal customer service by acting as a resource of information to other departments within the Company.

Job Function

• Pro-actively manage subset of high opportunity flights on a daily basis to maximize revenue (e.g., rule-based control)
• Semi-automatically manage remaining flights on a weekly basis to maximize revenue (a recent survey by AGIFORS stated that an average 97.1 percent of flights are managed automatically by RM systems at airlines who responded to the survey. 36.9 percent of flights are never touched by an Analyst).
• Managing overbooking and spoilage at the flight level
• Managing short-term capacity adjustments
• Contribute recommendations on revenue related initiatives
• Use resources in concert with intuition, judgment, and experience to evaluate flights during special events and define strategy to optimize revenue
• Captures new revenue opportunities through in depth market knowledge and statistical modeling tools
• Recommend and set prices for fare bands to maximize upsell opportunities
• Make recommendations for fares in new markets
• Demonstrate deep expertise on specific markets (trends, events, competitors).
• Utilize knowledge of statistical theory in understanding forecasts and optimization.
• Set market goals based on plans, forecasts, and market conditions and evaluate performance against goals
• Proactively makes recommendations based on market knowledge
• Manage multiple opportunities simultaneously
• Deliver effective presentations to department and executive Leadership

Qualifications

Education

College degree required, preferably in Finance, Economics, Math, Statistics or Engineering

Experience

5 years plus in Revenue Management or highly analytical environment

Skills

• Analytical background required.
• Ability to make decision in an ambiguous environment
• Demonstrated ability to interpret data, draw implications and modify approach required.
• Takes ownership and demonstrates accountability
• Demonstrates strategic thought process
• Ability to build a fact base and business case for strategic recommendations
• Ability to clearly articulate complex situations and effectively influence colleagues
• Willingness to take a position when rewards outweigh risk
• Views problems as an opportunity for improvement
• Demonstrates initiative, entrepreneurialism, and creativity
• Demonstrates a sense of urgency
• Must be technically proficient with respect to Microsoft Office products and SQL packages.
• Must work well with time constraints.
• Ability to work well with others as part of a team and work under stressful situations.
• Ability to work without close supervision.
• Must be detail-oriented while still seeing the big picture (e.g., industry challenges and opportunities)
• Must be able to communicate accurately and concisely both orally and written

We would be very interested in your thoughts on the position, the requirements, and any other strengths or weaknesses in the current Analyst environment today.