Big Data, Big Analytics and Revenue Management

The most useful definition I have come across for big data is from Forrester: “When the volume, variety and velocity of data exceeds the organization’s storage and processing capabilities for accurate and timely decision making”.

I speak to many hoteliers who are not convinced that their organizations have big data. Let me lay out the revenue management problem for you, (typically solved using an analytical revenue management solution), so that I can demonstrate how revenue management has always been a big data problem. A typical hotel has the following input data:

via Big Data, Big Analytics and Revenue Management, by Kelly McGuire, PhD.

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