What does forward-looking data entail? What is the future demand data?

What does forward-looking data entail? What is the future demand data?

With the developments resulting from Covid-19, established travel patterns went out the window. So did most hoteliers’ ability to forecast and price their rooms based on historical data. However, a precise forecast is more important than ever in these uncertain times and forward-looking data is an essential piece to make it accurate. 

The same is true for pricing. Revenue managers are under pressure to price rooms in a way that maximizes revenue from every bit of business. Unpredictable demand shifts make this task even more difficult than usual. 

These challenges have drawn the hospitality industry’s attention to forward-looking data. It’s the ticket to accurate demand forecasting and optimized revenue today. Let’s examine where you can get access to it and how you can use it at your hotel. 

Based on aggregated sets of data, Market Insight feeds Atomize RMS with demand data that reflects the hotel booking demand and booking intent in any geographical hotel market, 365 days into the future.

The future market demand data consists of millions of top-of-funnel search, and pricing data sources, including OTAs, GDSs, flight data, events, holidays, alternative lodging inventory, and meta-review sites. 

This will provide the Atomize RMS with unique insight into high-demand days and market anomalies. The demand data will be processed together with Atomize’s other data sources, including historical and future data on the books data, to identify dates with high future revenue opportunities.

Main benefits of Future Demand Data

Time saving

Forward-looking demand data is essential for accurate topline predictions and relevant promotions. It includes flight searches, overall search volume for your destination, and which length of stay travelers are checking for. A powerful RMS like Atomize will collect all this information and even break it down by source market. It would take you hours to gather this data manually and it would be outdated by the time you could analyze it. 

Opportunities to stay ahead

Modern tech solutions like Atomize, that offer these insights will give you an unprecedented leg up on your competition. Stay ahead of your competitors since the availability and adoption of future demand data is still extremely low in the industry. 

Observe changes in hotel booking demand and booking intent in your geographical hotel market, 365 days rolling. Discover high-demand days and market shifts early on, so you can optimize your rates and boost your revenue. 

Do you want to deep-dive and learn more about the benefits of forward-looking data, read this article > 

Want to see how future demand insights are implemented in our software? Request a demo with us >

 
Revenue Management System Atomize Customer

“Atomize has proven themselves to be able to output price recommendations that we highly trust. ”

We are very impressed with what Atomize offers in terms of technical competence, agility, responsiveness, and overall delivery.

Johan Forsberg, Revenue Director, Gothia Towers

“Atomize has proven themselves to be able to output price recommendations that we highly trust. ”

We are very impressed with what Atomize offers in terms of technical competence, agility, responsiveness, and overall delivery.

Johan Forsberg, Revenue Director, Gothia Towers

Revenue Management System Atomize Customer

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