RM Moment #12:

Data science is a core discipline in RM. Since we do not know all the variables that influence demand, the quality and correct treatment of known data (both observable and latent) play a fundamental role in improving results. In practical terms, one of the main functions of a RM team is precisely to be able to capture as much observable and latent data as possible, in order to reduce the weight of unknown data.

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RM Moment #11:

On average, it is estimated that only around 55% of the variables that influence demand are known. These are considered to be observable or latent observable demand variables. As for the remaining 45% no one knows what they are, that is, they are considered to be unknown demand variables. In this sense, RM is, up to this day, considered the only revenue-side demand management process that presents a set of instruments and mechanisms to deal exactly with the unknown part of demand.

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