The client is a global travel, tourism, and leisure experience company headquartered in Hanover, Germany. It is a Fortune 500 company counting several travel agencies and leading online portals along with hotels, airlines, cruise liners etc.
The client’s goal was to maximize revenue and key stakeholders' understanding regarding pricing, costs, and profit margin combinations before finalizing prices for future planning periods and making sales.
Our analytical solution calculated forecasted costs, margins & prices at an aggregated view based on data extracted from Price UI where price was set, and planned assumptions based on historical booking data. We successfully developed a Price Evaluation BI Product that helped the client in the following ways:
- Ensured completely Automated Price Evaluation and Forecasting activities
- Automation of Data Pipelines in Snowflake eliminated manual work and saved significant operational costs
- Accurate Price Evaluation ensured Revenue Maximization before taking products to market
- Made the existing process very simple with respect to accessing data from multiple sources
- The Iterative process allowed them to try various pricing forecasting combinations before rolling out final prices
- Ensured immediate Price Margin forecasting results with real-time report generation to provide immediate feedback to price evaluation team
- Fully Managed and Elastic Cloud platform
- Centralized availability of enterprise data
- Compatibility with all source markets
- Helped obtain a single version of the truth
- Accurate data-based judgments resulting in commercial growth
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