When it comes to forecasting hotel booking behaviors in order to maximize revenue strategy, more data is better than less. IDeaS Revenue Solutions and nSight Travel Intelligence 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 have access to advanced demand-intelligence solution 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 behavior across all relevant online and offline booking channels.
nSight for IDeaS goes beyond traditional data sources like brand.com regrets and denials data. Instead it utilizes 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.’ However, nSight for IDeaS combines data from the hotel’s RMS with predictive data, and offers it through an intuitive dashboard, helping 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, personalizing 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 maximize direct bookings and drive profitability.