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Revamping Of Forecasting System To Leverage Real Time Data

November 7, 2020

Global Hospitality company based in United States of America

Problem Statement

Current Forecasting System was short term focused and unable to leverage real time data (On the Books information). Forecasting system was rebuilt for both short term and long term. Adjustments was done based on real time booking information

Solution Approach

  • Data Exploration

  • Data Preprocessing

  • Model Development

Business Impact

  • Error rates were reduced 80% of the time

  • Forecasting made possible at further more granular level of details, in finer time increments

  • Automatic selection of business drivers, holidays and events produces reliable forecast

Critical Success Factor

  • Rate forecasting using SAS HPF and SAS Forecast Studio

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