Predict demand spikes and adjust prices earlier to maximize revenue. Update dynamic pricing models with PredictHQ.
You can create better dynamic pricing strategies with demand intelligence. Uncover which events drive demand and factor them into your pricing strategy to make the most of an incoming demand spike. HQPlus, a hotel software platform, saw a 10% increase in RevPar (revenue per available room) when using intelligent event data in their pricing models.
Price ratcheting doesn’t happen until 30-50% availability has been achieved, making it too late to profit from initial bookings. Demand intelligence helps data science teams identify historical demand catalysts based on dynamic event data so you can focus on a proactive, automated pricing approach.
Real-world event data is always changing, difficult to standardize, and often messy with duplicate events and spam. PredictHQ starts by making event data accessible - HQPlus customers experience a time savings up to 90% by eliminating manual event search and analysis efforts. The core of demand intelligence is high quality data that is aggregated, cleansed, enriched, and ranked. Data science teams can access intelligent event data through our API.
Accessing intelligent event data is just the beginning. Integrate demand intelligence into your automated pricing models with these steps.
Establish correlation between historical demand anomalies and intelligent event data with PredictHQ. Once correlation is established, you can identify the event categories that impact your business the most.
Identify which future events will impact your business. With our API of intelligent event data, you get a single source of high quality data to easily integrate events as features into your pricing models and adjust your pricing strategy.
Events are a dynamic data set. If you don’t track events, or have static events that were manually pulled, then your pricing prediction models aren’t robust. Using demand intelligence, you’re able to adjust pricing in a more dynamic way.
Customers are charged based on their willingness to pay for a product or solution
Customers are charged during rush or peak hours - i.e. when demand is the highest
Customers are charged based on when they purchase
Customers are charged for a more efficient service - i.e. same-day service
Data teams rely on high quality data to understand market conditions across all industries. Demand intelligence is designed to seamlessly plug into current data models and make your pricing strategies more dynamic.
Adjusting online prices gives retailers the flexibility to stay competitive with other online deals without compromising the brand.
Real-time price trends across thousands of flights allow airlines to quickly adjust and better predict upcoming air travel.
Anticipating booking curves with event data can increase RevPar and have profit boosts of 25% for hotels.
Adjusting prices based on real-time demand to increase profits and maximize the usage of driver supply.
Contact us now to find out the best solutions for your business. We'll get back to you within 1 working day.
Head of Data Science at Legion Technologies
Head of Product at HQ plus
Head of Offer Optimization of Airlines at Amadeus
CEO and Founder of Wheelhouse
Travel Appeal CEO and Founder
CIO at Online Republic
