Customer Segmentation: We help tourism industry segment different type of customers in budget, luxury, business and other categories. By studying data, we can help you decide which type of rooms are preferred by different kind of customers and what facilities are worth adding to the hotel to optimize profit. Similar ideas are used for cruise planning, vacation homes, entertainment parks, touring buses etc. In case of real estate companies, customer segmentation for furnished housing, short term corporate rental, luxury and budget accommodation can be very helpful.
Forecasting and Pricing Optimization: We can forecast demand for different type of customers (based on customer segmentation) at different locations according to time in the year. By closely matching demand, pricing can be optimized to remain strategic in the market. In today’s world of rapidly changing market, it is critical to use best forecasting and pricing techniques.
Revenue Management and Sharing: We can help you optimally share revenue between demand generation engines and tourism providers like hotels and vacation providing companies. We can help apply best practices in revenue management and sharing also in cruise planning, vacation homes, entertainment parks, touring buses by using techniques like customer segmentation, forecasting, game theory, scheduling etc. Revenue management techniques can also be used by restaurants to plan table size and location as well as dynamically assigning tables.
Business problems include:
Customer Segmentation, Scheduling, Facility Layout, Revenue Sharing, Pricing Strategy, Dynamic Table Allocation, Forecasting, Revenue Management
Common Optimization Problems:
- Job Shop Scheduling
- Game Theory
- Market Segmentation
- Dynamic Programming
- Vehicle Routing