Recently discussed on Tnooz, machine learning has been on the rise, helping hoteliers find the optimal price point and make inventory decisions. Such technology saves time and helps hoteliers use the time saved to focus on revenue strategy. The rise of such technology is not new in the industry, but has experienced breakthroughs in big data.
Tnooz lists 3 things that hoteliers should know about machine learning:
1. It can refer to many different types of applications across multiple industries. From Netflix to Amazon, machine learning helps make suggestions to the consumer as well as provide forecasting and decision optimization.
2. Machine learning is only one piece of a greater analytics puzzle. It's not great for everything, and is often used alongside multiple approaches depending on the data being analyzed and the questions being answered.
3. Machine learning, as well as all revenue technology, still requires human interaction. Hoteliers will still need to interact with this technology for initiation of actions and tweaking.
To read full details and more information on machine learning and its role in hospitality, read the full article on Tnooz here.
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