When it comes to forecasting hotel booking behaviours in order to maximise revenue strategy, more data is better than less.
This is according to IDeaS Revenue Solutions and nSight Travel Intelligence who have teamed up to offer hoteliers a new experience in revenue management that allows managers to “futurecast” inventory demand based on a rich set of data points never before available on a single technology platform.
With access to both nSight’s predictive consumer shopping intelligence data and IDeaS’ advanced revenue management solutions, hoteliers can now have exclusive access to the most advanced demand-intelligence solution on the market to increase bookings and drive better revenue.
Hoteliers have previously been limited to high-level booking data and lost business data for only brand.com when building demand forecasts. With nSight for IDeaS, hoteliers now have access to aggregated data from more than five thousand online travel sites, giving them much deeper and more cohesive insights on consumer behaviour across all relevant online and offline booking channels.
“The ability to integrate never-before-accessible information – such as relationships between intent to book and pricing – will elevate a hotel’s demand forecast and ultimately its revenue opportunities,” said Sanjay Nagalia, chief operating officer for IDeaS. “Our partnership with nSight is the first solution to truly bridge two profit-focused functions. By bringing revenue management and marketing closer together, we’re giving our clients an exclusive advantage over the competition.”
Rich, Real-Time Data Drives Revenue
nSight for IDeaS goes beyond traditional data sources like brand.com regrets and denials data. Instead, it utilises real-time, relevant and forward-looking demand intelligence from online travel agents and travel websites to provide powerful data that can be used to more accurately apply profit-generating pricing strategies.
“The sheer amount of data available can be overwhelming and ‘big data’ has become code for ‘lots of work’. We are changing all that with nSight for IDeaS,” said Rich Maradik, founder and CEO for nSight. “The simplicity in which hoteliers can now access and leverage large volumes of data is something the market has never seen before. By combining data from the hotel’s RMS with predictive data, and offering it through an intuitive dashboard, we help revenue and marketing teams simplify and focus on proven revenue-generating priorities.”
The information hotels can leverage using nSight for IDeaS can offer a distinct competitive advantage for pricing rooms, personalising marketing efforts and aligning the overall consumer experience across channels. It effectively narrows the disconnect between revenue management and marketing teams by delivering insights relevant to both functions.
nSight for IDeaS enables the two disciplines to collaborate with confidence, more accurately understand guests, and better target and track marketing campaigns. These well-aligned goals, in turn, allow hotels to maximise direct bookings and drive profitability.
Free Trial for Hoteliers
Existing IDeaS clients can sign up for a “no-charge, no-obligation” subscription of the solution beginning February 2017. This offer includes the full functionality of the nSight for IDeaS solution allowing hotels to use actual data and drive meaningful action immediately. For more information, go to www.ideas.com/nSight