Breakthroughs in the ability to apply complex mathematical calculations to big data are helping deliver optimal pricing and inventory decisions for hotels, and this article discusses three things today’s hoteliers need to know about the role machine learning plays in revenue management analytics:

  • machine learning is often used in conjunction with statistical methods to understand the relationship between price and demand, and generate rates that anticipate market fluctuations;
  • machine learning is not always the ideal approach where specific questions need an instinctive, complex response;
  • there is still a need for human interaction to alert the technology to things it cannot anticipate.

Read article: