making the case for data-driven revenue management

Making the case for data-driven RM

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  In this podcast, LodgIQ’s Fabian Bartnick sits down with Glenn Haussman, host of No Vacancy podcast, to make the case for data-driven revenue management. We ask one important question: Is revenue management via Excel spreadsheet alone still effective? We’ve spoken a lot about how buying behaviors and demand factors are evolving but let’s speak to the purely human element of…

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Machine learning 401

Machine Learning 401

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Predictive and prescriptive analytics are the focus of Machine Learning 401. Here are Machine Learning 101, 201, and 301, in case you missed it. If you made it this far, congratulations. You’ve learned a lot, but here’s where it starts to get tricky. This is where predictive and prescriptive analytics come into focus, two areas in which modern revenue management trends are being redefined. If…

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Machine learning 301

Machine Learning 301

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Analytics is the focus of Machine Learning 301. Here are Machine Learning 101 and 201, in case you missed it. Analytics are a valuable tool to finding new ways to generate more hotel revenue. But to fully impact hotel profit with technology, different types of analytics must be leveraged. Not all analytics are created equal, especially when it comes to ways to generate more hotel…

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machine learning 201

Machine Learning 201

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In Machine Learning 201 we explore the role of data patterns in modern revenue management strategies. Here’s Machine Learning 101, in case you missed it. Patterns rule the world, but understanding them, and using them to our advantage was previously complicated, if not outright impossible. But modern revenue management trends are proving that all is revealed in patterns, which is helping…

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Machine Learning 101

Machine Learning 101

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One of the biggest buzzwords of the modern age is “machine learning.” It certainly sounds cool and futuristic, but what is it, and how is it relevant to the hotelier’s life? We’ll answer that in this educational blog we’ve playfully named Machine Learning 101. Simply put, machine learning is the ability for a computer to examine giant swaths of data,…

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Demand Factors influencing Pricing

Demand factors influencing pricing

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There’s one constant every business person understands; the law of supply and demand. In the hotel business, it’s the fundamental underpinning of how rooms are priced on any given night. But there is a catch, what the typical hotelier sees as demand is not an accurate bellwether of actual demand. It’s what we perceive demand to be, not what the…

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Machine learning in revenue management

Machine Learning in Revenue Management – Part 1

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    In part 1 of this podcast, we interview Somnath Banerjee, CTO of LodgIQ, to learn more about the origins of machine learning and how it is being applied in revenue management technology to make intelligent pricing recommendations. Listen to part 2 here. Prefer your news all at once? Sign up to receive revenue-related news right to your inbox. Here’s…

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Multi-dimensional data storage

The multi-dimensional data explosion

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Massive amounts of data are being created daily, more than ever before; and without the right tools it’s impossible for any single person to make sense of it all, let alone turn that data into something usable. Commonly known as big data, it’s a simple name belying the complexity of the modern information age. Big data is just like it…

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Improve Pricing with Machine Learning

Improved pricing with machine learning

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In our blog on big data, we learned what it is, how it is sourced and how hoteliers can utilize its insights to improve their revenue strategy.  Those important, revenue-improving insights wouldn’t be possible without the predictive capabilities of machine learning. What is machine learning? In its simplest form, machine learning gives computers the ability to learn from data sets without…

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