Altexsoft

APRIL 8, 2022

But does it mean that hotels must get used to living in the OTAs’ shadow and be content with monstrous fees and rate parity rules? Let’s talk about the many opportunities that rate shopping might bring for a hotel. Analytics is the bread and butter of revenue management. Not exactly. What is rate shopping and rate intelligence?

Hotels 59

Hotels Comparison Travel Systems Review 59

Altexsoft

FEBRUARY 26, 2019

In general, price forecasting is done by the means of descriptive and predictive analytics. Descriptive analytics. Descriptive analytics rely on statistical methods that include data collection, analysis, interpretation, and presentation of findings. In short, this analytics type helps to answer the question of what happened?

Real Estate 69

Real Estate Artificial Inteligence Machine Learning Hotels 69

Altexsoft

MAY 5, 2023

AI in a nutshell Artificial Intelligence (AI) , at its core, is a branch of computer science that focuses on developing algorithms and computer systems capable of performing tasks that typically require human intelligence. This includes learning, reasoning, problem-solving, perception, language understanding, and decision-making.

Artificial Inteligence 59

Artificial Inteligence Machine Learning Technical Review ChatGPT 59

Altexsoft

MARCH 30, 2022

Upselling and cross-selling provide hotel owners and managers with the ability to drive greater profit from the same guest by timely offering valuable services. This post aims at explaining the key hotel upselling and cross-selling strategies, ways to digitize them effectively, and examples of existing software serving that purpose.

Hotels 59

Hotels Tools Strategy Off-The-Shelf 59

Altexsoft

SEPTEMBER 21, 2023

What if we told you that one of the world’s most powerful search and analytics engines started with the humble goal of organizing a culinary enthusiast’s growing list of recipes? First publicly introduced in 2010, Elasticsearch is an advanced, open-source search and analytics engine that also functions as a NoSQL database.

Weak Development Team 52

Weak Development Team Analytics Engineering Development Team Review 52

Xicom

AUGUST 13, 2020

Here, I am sharing some technology trends for online booking to answer the most frequently asked questions: How sustainability is driving hotel decisions? Might be due to a flight cancellation or because you missed the last train. Thus, the flight booking and hotel stay procedure should be simple. Probably yes!

Hotels 52

Hotels Artificial Inteligence Travel Artificial Intelligence 52

Altexsoft

DECEMBER 9, 2020

Still, today, according to Deloitte research, insight-driven companies are fewer than those not using an analytical approach to decision-making, even though the majority agrees on its importance. What is analytics maturity model? They also serve as a guide in the analytics transformation process. Stages of analytics maturity.

Analytics 102

Analytics Technical Review Technology Applications 102

Cloudera

MARCH 3, 2022

Whether the enterprise uses dozens or hundreds of data sources for multi-function analytics, all organizations can run into data governance issues. stemmed from a 2018 data breach, when the global hotel chain’s 339 million customers’ data was exposed. Everyone Fails Data Governance. In 2019, the U.K.’s From Bad to Worse.

Government 98

Government Enterprise Systems Review Data 98

Altexsoft

JUNE 21, 2023

The Average Daily Rate (ADR) — one of the leading hotel KPIs for gauging performance and profit — has gained considerable importance, and for a reason. We also investigate predicting ADR through machine learning and strategies to enhance this KPI. Example 1: Small boutique hotel. What is ADR?

KPI 52

KPI Hotels Strategy Machine Learning 52

Altexsoft

MAY 14, 2021

And that’s the most important thing: Big Data analytics helps companies deal with business problems that couldn’t be solved with the help of traditional approaches and tools. This post will draw a full picture of what Big Data analytics is and how it works. What is Big Data analytics? Traditional approach.

Big Data 78

Big Data Analytics Tools Applications 78

Modus Create

MARCH 14, 2023

By automating almost 30% of the process, AutoFin has significantly reduced the time for reviewing credit applications. Marriott Bonvoy — Creating Awareness with an Immersive Experience Hospitality With over 120 million members and 30 international brands, Marriott Bonvoy is arguably the largest hotel rewards program on the planet.

Examples 98

Examples Industry Technical Review UI/UX 98

Altexsoft

AUGUST 13, 2020

Data analytics is one of the key directions for digital transformation in various industries, travel included. And hospitality is no exception: the hotel industry operates large amounts of data by its nature. Today, we’ll look at the specifics of using BI in the hotel industry. Hotel data sources.

Business Intelligence 59

Business Intelligence Hotels Technical Review Technology 59

Altexsoft

MARCH 28, 2022

According to the Global Vacation Rental Report 2022 , 40 percent of property managers rely on market business intelligence (BI) or analytics services, a big leap compared to just 13 percent before the COVID-19 outbreak. Vacation rentals usually offer guests more attractive prices than hotels along with a more private setting.

Analysis 52

Analysis Data Software Review Technical Review 52

Altexsoft

APRIL 19, 2022

From sharing a corner in your living room with an air mattress to running a whole hotel-like operation with multiple properties, alternative accommodation hosts today can make bank. Hotels want to be like Airbnbs, investing in unique, homey properties where people come to live, rest, and work. Hotels and vacation rentals, compared.

Hotels 52

Hotels Tools Software Review Systems Review 52

Altexsoft

NOVEMBER 1, 2023

Word embeddings translate words or phrases into numerical vectors of fixed size, making it easier for machine learning models to process. NER example Consider the sentence: “Mary from the HR department said that The Ritz London was a great hotel option to stay in London.” And this can go a long way.

Artificial Inteligence 52

Artificial Inteligence Machine Learning Systems Review Training 52

Altexsoft

NOVEMBER 15, 2022

The occupancy rate is a key indicator of the historical, current, and looking-forward performance of a hotel or vacation rental business. The occupancy rate in hospitality is the share of occupied hotel rooms or vacation rental units at a given time. Overall, average hotel occupancy rates range between 65 and 80 percent.

Hotels 52

Hotels Machine Learning Artificial Inteligence KPI 52

Altexsoft

JUNE 9, 2023

Large language models and transformers in a nutshell Language models , types of machine learning models, are trained to anticipate the likelihood of a word sequence. They predict the next appropriate word based on text context, essentially learning how humans use language. Attention and self-attention mechanisms.

ChatGPT 52

ChatGPT Travel Artificial Inteligence Hotels 52

Altexsoft

AUGUST 9, 2023

It’s a systematic approach to handling various travel operations such as hotel bookings, flight tickets, travel policies, and reporting with the aim of cost control, adherence to corporate policies, and employee comfort and safety. Their interaction is centered around reporting, analytics, and oversight features.

Travel 52

Travel B2B Off-The-Shelf Hotels 52

Apiumhub

MARCH 16, 2021

Online analytical processing. Predictive analytics. Prescriptive analytics. Airlines and hotel chains are big users of BI for things such as tracking flight capacity and room occupancy rates, setting and adjusting prices, and scheduling workers. Business intelligence use cases. Dashboard development. Data mining.

Business Intelligence 117

Business Intelligence Tools Artificial Inteligence Technical Review 117

Altexsoft

JULY 3, 2020

Machine learning allowed hotels and rental services to personalize offers and services. Technologies that form back offices and hotel management systems consist of various tools and structures. For the most part, these are hotels, restaurants, and bars. consulting companies that concentrate on hospitality.

Technical Review 76

Technical Review Technology Hotels Systems Review 76

Altexsoft

APRIL 24, 2019

We talked with experts from Perfect Price, Prisync, and a data science specialist from The Tesseract Academy to understand how various businesses can use machine learning for dynamic pricing to achieve their revenue goals. Such a pricing strategy can lead to bad reviews, complaints, or worse.

Machine Learning 73

Machine Learning Artificial Inteligence Software Review Retail 73

Altexsoft

JUNE 25, 2022

percent in 2020 due to pandemic restrictions, in 2021, the industry saw a rise up to 6.1 Besides, due to the specific nature of the industry with high-value one-off payments, a big number of businesses across the world, and rapid customer consumption of services, the travel and hospitality sector is a huge target for fraud.

Travel 52

Travel Software Review Software Airlines 52

Altexsoft

SEPTEMBER 6, 2018

An expert talking about the capabilities of predictive analytics for business on a morning TV show is far from unusual. Due to a surfeit of information about AI and big data on the Internet, companies can assume that data analysis is the solution for most of their data-related issues. Amazon and Netflix recommendation systems).

Company 63

Company Off-The-Shelf Data Software Review 63

Altexsoft

NOVEMBER 22, 2019

Hotel business produces a plethora of data literally every moment. Let’s take a closer look at major data management processes — data collecting, storing, and analyzing — as applied to the hotel domain. Hotel data collection: what and where to look for. Important hotel data sets and overlaps between them.

Hotels 18

Hotels Data Technical Review Systems Review 18

Altexsoft

JUNE 10, 2021

Crandall is famous for many airline innovations that we use today, such as inventing the first frequent flier program and contributing to route optimization and central reservation system adoption. Revenue management strategies in hotels are also common.) Let’s review them and explain some solutions for improvement.

Airlines 59

Airlines Strategy Weak Development Team Technical Review 59

Altexsoft

FEBRUARY 15, 2022

As a hotel, airline, OTA, or other company that works with travelers, you have to translate and customize all the elements of your digital product: Customer-facing content ( descriptions, landing pages, blog materials, FAQs and help desks , the “About us” section, terms and conditions, contacts, marketing and advertising materials etc.);

Travel 52

Travel Hotels Technical Review Systems Review 52

Altexsoft

SEPTEMBER 7, 2021

It uses machine learning to capture more nuanced customer behavior patterns. To implement a predictive lead scoring system, insurers can build it from scratch or buy a ready-made one. Off-the-shelf lead scoring systems. The ready-made systems such as Maroon.ai Predictive lead scoring.

Insurance 59

Insurance Technical Review Strategy Technology 59

Altexsoft

OCTOBER 31, 2023

Data integration – omnichannel relies on a seamlessly integrated backend system to share data across all sales and marketing platforms. Because of lack of integration, cross-channel customer interactions aren’t captured, so data collected for analytics is often fragmented and incomplete. are available regardless of the touchpoint.

Strategy 52

Strategy How To Mobile Media 52

TechCrunch

JANUARY 16, 2021

A great amount of talent is cultivated in the military, which has spawned innovative cyber, AI and machine-learning companies. Also, significant experience and know-how have been accumulated here in big data analytics. Travel and proptech are more exposed due to COVID-19. Not particularly. Very positively.

Technical Review 354

Technical Review Software Review Trends Systems Review 354

Altexsoft

JANUARY 11, 2019

Machine learning and data science advisor Oleksandr Khryplyvenko notes that 2018 wasn’t as full of memorable breakthroughs for the industry, unlike previous years. So, it’s not the state-of-the-art that motivates businesses to use data science more but the standardized approach to machine learning model building. ”.

Artificial Inteligence 94

Artificial Inteligence Artificial Intelligence Trends Data 94

Altexsoft

SEPTEMBER 25, 2020

Moreover, Atlanta is the birthplace for Healthcare Information and Management Systems Society ( HIMSS ), a health IT pioneer founded in 1961 at the Georgia Institute of Technology. EHR systems and practice management. It’s worth noting that over 95 percent of hospitals across the US already use certified EHR systems.

Healthcare 85

Healthcare Technical Review Software Review Systems Review 85

TIBCO - Connected Intelligence

OCTOBER 28, 2020

Another heavily impacted sector is the manufacturing industry, as orders are falling sharply or being canceled due to customers focusing their primary needs on other sectors. increase in eCommerce, mobile traffic doubled and systems had to be upgraded to withstand the loads additional to which they were subjected. Complete Turnaround.

Telecommunications 34

Telecommunications Technical Review Hotels Transportation 34

Altexsoft

MAY 20, 2022

Some travelers used it as a loophole to game the system and took longer, often multi-stop flights (which were usually cheaper too) instead of short, direct ones to get more points. due to expiration or other reasons like a member’s death). Now, let’s look into details. How do airlines accrue points? So how does it work?

Airlines 52

Airlines Programming Technical Review Technology 52

Altexsoft

JANUARY 21, 2022

Our sentiment analysis tool for aggregating hotel reviews is a good example. The team was challenged with testing what machine learning model would work best for labeling sentiment in reviews. You can go through detailed examples posted by Justinmind and Marvel and review designer projects on Dribbble.

Software Review 52

Software Review Software Technical Review How To 52

TIBCO - Connected Intelligence

DECEMBER 2, 2020

In short, what is needed now is a kind of “business review ”—the new business imperative. Another heavily impacted sector is the manufacturing industry, as orders are falling sharply or being canceled due to customers focusing their primary needs on other sectors. On the other hand, the retailers and the distributors have shown a 12.2%

Technical Review 26

Technical Review Technology Systems Review Telecommunications 26

Altexsoft

JANUARY 17, 2023

Analytics and revenue management – managing companies monitor performance of properties under their control and use various revenue management strategies to maximize profits (e.g., However, they integrate the new inventory into the parent management system to establish data sharing and create a unified booking system.

Strategy 52

Strategy Company Technical Review Software Review 52

Altexsoft

DECEMBER 10, 2019

Except that we are describing real-life situations caused by small failures in the computer system. If passengers are stranded at the airport due to IT disruptions, a passenger service system (PSS) is likely to be blamed for this. The first generation: legacy systems. Travel plans screwed up. Million-dollar deals crumbed.

Airlines 18

Airlines Systems Review System Travel 18