Case 1
Purpose
The client, a leading hotel chain management company wanted to gauge the customer footfall every week to manage their hospitality services
Approach
The client had only a CRM solution that collected data of all its customers. Hence apart form the data available we had to seek some external data for holidays and other specialized demographic based events
We the segregated the hotels by geographic regions and used multiple regression and time series techniques along with intervention variables to find out the hidden trends in the data
We then used deep learning algorithms to model the data and wrapped the algorithm around a black box solution that could be easily consumed by the business
Outcome
The final tool delivered helped the clients to accurately forecast demand of different rooms during different seasonal periods by over 93%
The overhead costs incurred by our clients was reduced by more than 10% due to efficient demand forecasting and inventory management
Case 2
Purpose
Our client, a leading hotel chain management firm, needed differential price optimizer to maximize its revenue and profit with improved customer satisfaction
Approach
The data collected by the client in this case was rich and due to their global positioning the data was diverse and across multiple data sources. So we aggregated all data from 6 sources into a single data lake
We then clustered the hotels based on factors like
- Number of rooms available
- Price bucket of rooms
- Types of rooms available
- Quality bracket of the hotels
- Region and customer demographics
Price elasticity models were created across every cluster thus formed to find the optimized room rates and the final algorithm was wrapped around a web solution which could be accessed through a thin client system.
Outcome
In 3 months the client observed an incremental profit of a million dollars due to pricing effectiveness
Customer response time reduced by over 30% as the prices are directly optimized by the system according to customer preferences and bulk room orders and customers are offered fine tuned rates