Revenue Optimization for Travel
" Within a 12-month period following the June 2009 implementation, we saw an increase of 4.6 percent in our AWR [average weekly rate], which is analogous to ADR [average daily rate] on the hotel side. Clearly our RevPAR metric goes up by a similar amount: 4.6 percent. We also stemmed the decline in our occupancy that we had been seeing for the five years before the implementation. These were very encouraging results – actually a little bit better than what we had expected."
— Jeremy TerBush, Vice President of Revenue Management and Analytics at Wyndham Exchange and Rentals
How SAS® Can Help
We provide software and services to help you:
- Increase revenue and profits. Advanced forecasting and optimization algorithms account for all of the factors that influence demand, including seasonality, competitive pricing effects, overbooking, market segment characteristics, reservations on hand, cancellations and no-shows, network effects, cross-price elasticity and willingness to pay.
- Become a market leader rather than a market follower. Competitive pricing elements are built into the forecasting algorithms that automatically account for price sensitivity of demand in a competitive market.
- Create a competitive advantage with a pricing solution tuned to your particular business needs. Our flexible and extensible analytics engines allow you to account for operating constraints and data sources that are unique to your business.
- Automatically detect and incorporate changing market conditions into pricing decisions. Pattern-recognition algorithms identify changes in data and determine if they are one-time events or trend shifts.
- Access the right insights needed to design and execute an optimal pricing strategy. Business intelligence tools that are flexible and robust allow you to deliver key information to decision makers in the format, frequency and level of detail they need.
How SAS® Is Different
SAS offers tools and solutions to improve forecast accuracy, make better decisions faster and maximize revenue, including:
- Forecasting solutions with optimized model selection. SAS software’s industry-leading forecasting engine automatically identifies the best model for each forecast and optimizes its parameters, resulting in more accurate forecasts to support your pricing recommendations.
- Customer segment-level elasticity estimation, with competitive price effects. Our advanced approach to elasticity captures price sensitivity fluctuations that occur over time between customer segments and as competitors change their price – resulting in pricing that reflects customers’ willingness to pay.
- Highly flexible analytics that can incorporate customer-specific data and requirements. Our analytics are customizable to your specific business problem. Whether it’s using standard inputs and constraints or something unique to your business, we can incorporate anything that could affect your pricing strategy.
- Flexible and configurable reporting. Get faster decisions by putting the right information in the hands of decision makers. Our business intelligence tools provide the platform for delivering the exact information decision makers need to see, when and where they need to see it.
- Legacy client environments integration. Reduce the change management impact of implementing a so-called “off-the-shelf” solution by incorporating our analytics into your existing solutions to get the revenue improvement from better analytics while minimizing the disruption to the users.
Related Products and Solutions
- SAS® Enterprise Data Integration Server
- SAS® Forecast Server
- SAS® Enterprise Miner™
- SAS® Text Miner
- SAS® Financial Management
- SAS® Profitability Management
- SAS® Revenue Management and Price Optimization Analytics for Hospitality and Travel
SAS® Enterprise Data Integration Server
SAS Enterprise Data Integration Server is a powerful, configurable and comprehensive solution designed for managing big data that can access virtually all data sources; extract, cleanse, transform, conform, aggregate, load and manage data; support data warehousing, migration, synchronization and federation initiatives; support both batch-oriented and real-time master data management solutions; and create real-time data integration services in support of service-oriented architectures.
SAS® Forecast Server
SAS Forecast Server generates large quantities of forecasts quickly and automatically without the need for human intervention unless so desired. The software automatically chooses the most appropriate forecasting model, optimizes the model parameters and produces the forecasts. Time series data management capabilities are also included. The ability to preprocess transactional data can save organizations significant time and resources, and the unsurpassed scalability of SAS Forecast Server enables your business to operate more efficiently.
SAS/OR software provides a powerful array of optimization, simulation and project scheduling techniques to identify the actions that will produce the best results, while operating within resource limitations and tight restrictions. It enables organizations to consider more alternative actions and scenarios, and determine the best allocation of resources and the best plans for accomplishing goals.
SAS® Enterprise Miner™
SAS Enterprise Miner streamlines the data mining process to create highly accurate predictive and descriptive models based on large volumes of data from across the enterprise. It offers a rich, easy-to-use set of integrated capabilities for creating and sharing insights that can be used to drive better decisions.
Forward-thinking organizations today are using SAS data mining software to detect fraud, minimize risk, anticipate resource demands, reduce asset downtime, increase response rates for marketing campaigns and curb customer attrition.
SAS® Text Miner
SAS Text Miner discovers information buried in collections of unstructured text data. By automatically reading text and delivering algorithms for rigorous, advanced analyses, the solution makes it possible to grasp future trends and act on new opportunities more precisely and with less risk. It includes advanced linguistic capabilities within the core data mining solution of SAS® Enterprise Miner™ so you can easily extend text mining insights into structured data mining and predictive analysis.
SAS® Financial Management
SAS® Financial Management is a comprehensive solution for enterprise planning, budgeting, consolidation and reporting. With a proprietary calculation engine and accounting logic, this remarkable solution consolidates planning or historical information on demand, ensuring that the latest information is always available for decision makers and regulatory agencies.
SAS® Profitability Management
SAS Profitability Management provides accurate cost and profit calculations based on the rule-driven allocation of expenses and revenue down to the individual transaction. By providing insight into profitability factors, the solution helps decision makers focus on opportunities for profitability improvement.
SAS® Revenue Management and Price Optimization Analytics for Hospitality and Travel
SAS Revenue Management and Price Optimization Analytics is an analytic package that facilitates the development of proprietary revenue management and price optimization capabilities. This product helps increase revenue by using advanced revenue management and price optimization demand modeling and forecasting techniques.
Ready to learn more?
Call us at 1-800-727-0025 (US and Canada) or request more information.