“Every Report is a Failure”: Why Traditional Reporting is Obsolete for Pricing Decisions

every report is a failure

In today’s fast-paced markets, making informed pricing decisions is crucial, yet traditional reports quickly become outdated—effectively setting up for failure. At Atomize, our philosophy is clear and for some provocative at first: “Every report is a failure.” This statement underscores our belief that the moment a report is generated, it becomes obsolete, rendering it ineffective for making informed pricing decisions.

In this discussion, I’ll explore why real-time data and real-time predictive analytics are crucial for navigating dynamic and in many cases unpredictable market landscapes, highlighting how Atomize leverages advanced technology to transform pricing strategies effectively.

In the previous discussion about the importance of real-time data for dynamic pricing decisions, we touched on how vital timely information is in the rapidly shifting market landscapes. However, having access to real-time data is only part of the solution. The true competitive advantage lies in our ability to handle vast volumes of data, analyze it, and make real-time predictive decisions; and how that calls upon the requirement for automation. Here, I will delve deeper into how Atomize, not only accesses real-time data, but also utilizes technology to analyze it and automate decision-making processes effectively.

Handling High Data Volumes Across Multiple Properties

One of the biggest challenges for revenue managers today is not just collecting data, but managing and processing high volumes of it efficiently. Many revenue managers find that a significant portion of their time is consumed by these tasks, which delays their ability to engage in strategic decision-making and timely pricing adjustments. This challenge is amplified for Cluster Revenue Managers who oversee several properties, where the quality and quantity of data management could potentially suffer due to the sheer scale of data.

At Atomize, we address this challenge with our advanced Revenue Management Systems (RMS) designed to handle data processing effortlessly. Our systems collect and present all relevant hotel information in real time, 24/7/730 (we do price 730 days ahead in real-time), allowing revenue managers to bypass the tedious data collection phase and move directly to strategy and execution.

The Role of Real-Time Data in Informed Pricing Decisions

To truly capitalize on real-time data, it is imperative that our technology not only gathers and analyzes data but also predicts market trends and makes decisions autonomously. At Atomize, approximately 70% of our customers have embraced this model, running their pricing decisions on autopilot. Our system makes continual price adjustments based on real-time data analysis, ensuring that our clients are always positioned optimally in the market without manual intervention.

 

Evaluating the Impact of Automated Pricing Decisions: Real Results and Customer Testimonials

The effectiveness of our approach is best illustrated by the results we deliver and the trust our customers place in our technology:

  • Operational Efficiency: “Atomize has generated fantastic results for us. All of our properties run on real-time price automation and we save vast amounts of time; a working day per week, in other words, 30+ hours per month per property. Atomize has also increased our RevPAR by more than 20% for our properties,” shares Eric Bergsten, Director of Revenue at CIC Hospitality
  • Revenue Growth and Satisfaction: “Our team is impressed by the fully automated yielding performance that Atomize delivers. Atomize is a next-gen RMS solution and the application has truly helped us grow by increasing our revenues and the overall operational efficiency for our staff,” says Fredrik Ternsjö, Head of Revenue, Distribution & Systems at Ligula Hospitality Group.

 

Conclusion

The journey towards real-time data utilization in pricing is not just about having the right data at the right time. It is equally about having robust technology that can process, analyze, and act on this data without delay, exemplifying the core principles of automated revenue management at Atomize.

At Atomize, we ensure that our clients are equipped with state-of-the-art tools that empower them to meet today’s market demands effectively. By automating the decision-making process, we help our clients not only keep pace but lead in their respective markets.

Embrace the future with Atomize, where data meets decisiveness, and every pricing decision is as dynamic as the market it serves.

Curious to learn more about Atomize and explore if our RMS would be a good fit for your hotel, please reach out and schedule a demo >

Author Alexander Edström, CEO of Atomize

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