How hoteliers are using AI for revenue management

Artificial Intelligence is making the job of data analysis much easier in a variety of ways, helping hotel revenue managers getting ahead of the competition using AI

Revenue Management is one of those professions that is set to reap the benefits of AI integration. Since the key to being successful in revenue management is following data trends closely and using these insights to set the right pricing at the right to the right customers, AI is perfectly suited to supporting this hotel function.

Key takeaways

• Business analytics and data visualization tools such as Agile Business Intelligence (BI) and Power BI by Microsoft are transforming the hospitality industry in significant ways with their ability to rapidly process and analyze data, produce reports, and integrate information on one platform;
• Data visualization makes huge amounts of data more accessible and helps communicate complex information more effectively. It also helps professionals find the core meaning of big data by displaying patterns, trends, and correlations in a visual context;
• In addition, Geographic Information Systems (GIS) can be useful support tools for revenue managers since they allow them to incorporate geographic data into demand patterns and business performance.

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