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Customized Revenue Management System

Business Impact

Reduction in Decision-Making Time and Increase in Profit Optimization Efficiency

Technologies Used

Team of Certified Data Professionals that work hand in hand with clients
Python
AWS
Dash

Problem Overview

A hotel revenue management company was dissatisfied with their existing revenue software, which was crucial for consolidating revenue streams, understanding market demand, and setting room prices. The software was costly and lacked desired features, leading them to seek Bear Cognition's expertise to develop a platform that aligned with their vision and addressed the shortcomings of their current system.

Solution

The hotel revenue management group approached Bear Cognition to create a more effective revenue management interface. Collaborating closely with their partners, BC outlined a comprehensive plan to reduce decision-making costs, optimize pricing processes, and maximize profits. This plan encompassed ETL processes from each hotel, competitor pricing web scrapers, a pricing optimization model, a robust cloud infrastructure, and a seamless interface. BC initiated the project with custom-built API pipelines to hotel systems, RPAs for report downloads, and web crawlers for competitor price analysis. The automated data collection and transformation processes enabled near real-time reporting, crucial for efficient decision-making. Following data collection, BC's data scientists developed a pricing optimization tool, considering historical pricing and competitor offerings, significantly reducing rate decision times. Concurrently, the DevOps team established a scalable and reliable AWS cloud infrastructure, ensuring high availability and responsiveness. The culmination of this project was a user-friendly interface, tailored to the hotel revenue management company's needs, far surpassing the functionality of their previous software.

Results

  • Custom-Built API Pipelines and Automated Data Collection for Real-Time Reporting

  • Advanced Pricing Optimization Tool for Efficient Rate Decision-Making

  • Highly Scalable Cloud Infrastructure and User-Friendly Interface for Operational Excellence

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