RateGain Technologies, a provider of SaaS solutions for travel and hospitality, announced recently the launch of Demand.AI, a self-serve unique SaaS solution powered by artificial intelligence (AI) to help businesses track hyper-local demand at a city level and optimize their commercial strategy and ensure better ROI.
Increased volatility due to COVID-19 has made it difficult for any business to plan for the future. In addition, COVID-19 introduced an anomaly in demand forecasting by disrupting historical data trends, making it less reliable to understand how much demand they can expect in the next couple of months.
While the pandemic has been challenging for most industries that depend on tourism to drive revenues, the challenge has been more pronounced for teams that rely on historical data for planning their future demand, especially in hotels, airlines, vacation rentals, car rentals, destination-marketing organisations and tourism boards.
The inaccurate forecast also affects agencies that need to deliver localised outdoor campaigns and events dependent on footfall in a city’s specific locality; hence, the need for an easy-to-use and affordable platform has never been higher.
Demand.AI solves this by providing a demand index for the city ranked from 0 to 100 to help organisations understand how demand is evolving over 75 days. The easy-to-use and instantly accessible platform also allow users to track demand for each locality within the city, using a map-view or a table view to compare which locality in each city will see higher demand.
Apart from the demand index, users can also understand what type of demand would be coming into the city, the popular booking patterns, and how it would affect hotel and vacation rental bookings.
Conceptualised and developed by RG Labs, RateGain’s in-house incubator in six months, the product leverages RateGain’s data lake with billions of data points on user searches, transactions and price points across hotel, airline, car and vacation rentals. This is further combined with other forward-looking demand indicators such as active COVID cases, vaccination numbers, lockdowns/restrictions news, events, weather, airline capacity and bookings to give a forecast using AI, which is refreshed on a weekly basis.
Traditional Demand forecasting products are complex to derive insights and always have a medium to long incubation periods; however, as most of the industry tackles volatility and looks for accelerated digitization, they cannot afford to wait to get actionable insights and this is where Demand.AI can help solve this immediate need for any business that depends on travel-induced demand.
“We know that today, tourism directly and indirectly creates 3 out of every 10 jobs in the world according to WTTC. However, the inability of businesses to understand future travel demand and its impact on them creates poor customer experiences and lost revenue opportunities to recover from the pandemic impacting sustainable job creation”, said Bhanu Chopra, Founder of RateGain. “With Demand.AI, we are committed to make the future of travel clear and make it simple, clear, and instant, helping any travel-related businesses recover from the pandemic easily”.
Users can sign up to get full access for a free trial for two weeks by signing up on https://www.demand-ai.com.
About RateGain
RateGain is a global provider of SaaS solutions for the hospitality and travel industry, offering travel and hospitality solutions that unlock new revenue every day. We are one of the largest aggregators of data points in the world for the hospitality and travel industry. For more information visit https://www.rategain.com
Archive
- October 2024(19)
- September 2024(94)
- August 2024(100)
- July 2024(99)
- June 2024(126)
- May 2024(155)
- April 2024(123)
- March 2024(112)
- February 2024(109)
- January 2024(95)
- December 2023(56)
- November 2023(86)
- October 2023(97)
- September 2023(89)
- August 2023(101)
- July 2023(104)
- June 2023(113)
- May 2023(103)
- April 2023(93)
- March 2023(129)
- February 2023(77)
- January 2023(91)
- December 2022(90)
- November 2022(125)
- October 2022(117)
- September 2022(137)
- August 2022(119)
- July 2022(99)
- June 2022(128)
- May 2022(112)
- April 2022(108)
- March 2022(121)
- February 2022(93)
- January 2022(110)
- December 2021(92)
- November 2021(107)
- October 2021(101)
- September 2021(81)
- August 2021(74)
- July 2021(78)
- June 2021(92)
- May 2021(67)
- April 2021(79)
- March 2021(79)
- February 2021(58)
- January 2021(55)
- December 2020(56)
- November 2020(59)
- October 2020(78)
- September 2020(72)
- August 2020(64)
- July 2020(71)
- June 2020(74)
- May 2020(50)
- April 2020(71)
- March 2020(71)
- February 2020(58)
- January 2020(62)
- December 2019(57)
- November 2019(64)
- October 2019(25)
- September 2019(24)
- August 2019(14)
- July 2019(23)
- June 2019(54)
- May 2019(82)
- April 2019(76)
- March 2019(71)
- February 2019(67)
- January 2019(75)
- December 2018(44)
- November 2018(47)
- October 2018(74)
- September 2018(54)
- August 2018(61)
- July 2018(72)
- June 2018(62)
- May 2018(62)
- April 2018(73)
- March 2018(76)
- February 2018(8)
- January 2018(7)
- December 2017(6)
- November 2017(8)
- October 2017(3)
- September 2017(4)
- August 2017(4)
- July 2017(2)
- June 2017(5)
- May 2017(6)
- April 2017(11)
- March 2017(8)
- February 2017(16)
- January 2017(10)
- December 2016(12)
- November 2016(20)
- October 2016(7)
- September 2016(102)
- August 2016(168)
- July 2016(141)
- June 2016(149)
- May 2016(117)
- April 2016(59)
- March 2016(85)
- February 2016(153)
- December 2015(150)