While some companies in the hospitality industry may be less innovative than others, those at the front of the pack are moving at the speed of light. These hotels use big data and analytics to enhance everything from their revenue to the customer experience. They have to, as current challenges make the industry a difficult market to play in.
Yield management is one such challenge. Hotel rooms are a fixed resource, but their prices are highly elastic, varying according to interlinked criteria like demand, time of year and weather. If you charge too much, you risk losing revenue to lower-priced competitors; if you charge too little, you leave money on the table.
Actual Experience PLC (LON:ACT), an analytics-as-a-service company, provide digital experience quality analytics services in the United Kingdom, the United States, Europe, and internationally.