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Travel Industry Benefits from Predictive Analytics

HotelNow airlines, hotels, and reservation sites are joining the ever-growing list of businesses which are finding value in predictive analytics. Information Week recently shared a story discussing how this industry is benefiting from intelligent data use.

Airlines, hotels, and reservation sites are making the most of data to improve booking ratios, boost revenue yield and improve customer satisfaction.

“We’re seeing tangible, pragmatic businesses benefits using big data, whether it’s to increase the look-to-book ratio, decrease the cost of operations, boost revenue yields or increase customer satisfaction,” says Herve Couturier, executive VP at reservation services giant Amadaeus.

The article cited uses of data such as determining whether or not customers would miss a connecting flight so the airlines would know to offer them a later flight, or knowing which renovations a hotel should make in order to maximize a return on investment. The hotel industry has also learned to make dynamic price changes on reservations which hinge on the typical spending habits of individuals coming from each reservation portal.

Are you in the hospitality business? Would you like to make these kinds of improvements so that you, too, can achieve better results?

In spite of Couturier’s words it’s less about “big data” and more about knowing how to derive the right information from that data. That all starts with the proper training.

So take advantage of The Modeling Agency’s free webinar. This webinar will teach you how to get started with predictive modeling. Then you can explore The Modeling Agency’s full roster of training courses. Get the knowledge and skills you need to take control of your business!

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