Is pricing automation the future of revenue strategy?
Think of your pricing strategy getting a smart upgrade – now it's nimble, sharp, and syncing perfectly with the market's beat, all thanks to AI
Pricing automation is the process of using AI to analyze and adjust prices based on various factors, such as pure transactional data, demand, competition, seasonality, events, and customer behavior.
Key takeaways
- Pricing automation does not eliminate the need for human intervention, but rather empowers Revenue Managers to make better and faster decisions;
- This frees up Revenue Managers to zoom in on the near-term, on those critical dates demanding meticulous attention, and to only step in when AI's long-term strategy calls for a human touch;
- Pricing automation is a game-changer for the hospitality industry, as it enables Revenue Managers to optimize their pricing strategy and maximize their revenue.
Get the full story at Hospitality Labs