Predict Your Profits
The best time to correct a problem is before it happens. That is the benefit of using a forecast model, it allows you to predict what is going to happen in the future and react to it now.
Predict Your Profits
The best time to correct a problem is before it happens. That is the benefit of using a forecast model, it allows you to predict what is going to happen in the future and react to it now.
How Forecasting Works
Data Collection
Our system automatically gathers historical data from various sources, including your property management software, booking platforms, and local market data. This data includes information on bookings, pricing, occupancy rates, and local events.
Trending Analysis
We use that data to create trends that tell a story of how the past behaved. That data is compared to how the future data is behaving, and those trends are compared to each other.
Forecasting Model Application
The model then takes those trends and projects them into the future. At any point in time this is the best estimate of what is going to happen. This is forecast should drive your pricing decisions.
Measure Accuracy
Forecasting is never perfect. Human behavior is hard to predict. But, we can always get better. That is why we measure forecast accuracy (MPE) so we can always be improving.