Predictive analytics uses historical data and models to estimate what will happen, not just report what did. In a hotel it anticipates demand for certain dates, the cancellation risk of a booking or when to raise prices. It is the quiet engine behind a good revenue management system.
Example The model flags that a long weekend will fill earlier than usual and low rates should be closed now.
A revenue management system uses demand, competitor and booking data to recommend the optimal price for each...
AI and automationMachine learning is the part of AI where the system improves by itself from data, without anyone coding every...
RevenuePace is the rate at which bookings build for a date compared with how the same day ran last year or with the...
RevenueDynamic pricing adjusts rates in real time based on demand, competition, lead time and other factors. Instead...
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