Background
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Machine Learning
A Global Destination Resort Operator
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Our client operates a network of more than 379 vacation destinations in 35 countries around the world
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They have deployed Google Cloud tools as part of a company-wide digital transformation.
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They continue to expand their use of Looker and BigQuery technology to predict travel demand, monitor occupancy rates, track revenue and reduce expenses during the pandemic.
Case Study
Overview
A Global Destination Resort Operator
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As a long-time partner with our client, Castle provided critical assistance in the design & development of a scalable, automated cloud-based Machine Learning solution
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The solution forecasts demand & booking patterns leveraging the client’s existing GCP
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Environment & Looker and Cloud AutoML
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In collaboration with the business users, Castle developed Looker models, reports & dashboards which interact with existing revenue data & provides key insights using the forecasted data.
Solution Approach
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Revenue Managers found it challenging to assess & identify patterns in order to better predict and manage inventory & pricing.
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They were using a statistical methods, tools & calculations which were time consuming and often provided questionable accuracy and resulted in lost revenue opportunities.
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A more accurate approach to first identify the booking patterns across multiple segments, resorts and revenue streams, then to utilize these patterns to forecast demand & manage pricing effectively was needed.
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More importantly, the solution should be scalable, cost effective & implemented within a short timeframe.
Challenges
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Revenue gains achieved by the ability to accurately forecast demand & provide booking pattern predictions.
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Greater confidence in results due to leveraging a more scientific approach which reflects changing behaviors in travel situations like pandemic and other anomalies.
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Improved management of demand, allocation & pricing across different segments, properties, revenue streams.
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Improved insights on expected booking pattern with respect to seasonality & shift between revenue streams.
Benefits to Client