Top 3 Core Objectives:
Save time, streamline data analysis and make data-driven pricing and distribution decisions.
Real-time, data-driven decisions:
Before implementing Rate and Revenue Insight I had to collect and collate all internal, market and competitor data manually. Often that took up half my day and left me with less time for other important tasks. Since gathering the data took so long, it was frequently obsolete by the time we were able to analyse it. That meant we repeatedly had to base our pricing and distribution decisions on old information which caused us to miss revenue opportunities.
Adjusting to market shifts:
Rate and Revenue Insight proved to be extremely valuable resources during the pandemic for two reasons.
First, things were developing quickly and unpredictably, so we constantly had to adjust to new and often surprising market shifts. OTA Insight’s BI tools helped us monitor our market, the competition and our performance in real-time. This allowed us to adapt our strategies appropriately and avoid rash decisions.
Second, we had a smaller team during large parts of the pandemic. That meant efficiency was even more important than usual. Rate and Revenue Insight were especially important at this time. They eliminated many manual tasks and allowed us to focus on what mattered most – getting through the crisis and preparing for recovery.