Hotels traditionally forecast using a variety of numerically-based data sources, such as historical results and economic factors. These are all derived from numbers: the number of reservations booked over the same time last year, how well the market performed and where ADR finished each day. And while translating those numbers into a more profitable business strategy is certainly de rigueur, futurecasting is what can quickly turn your revenue strategy into the piece de resistance! Futurecasting looks beyond the numerical side of big data to humanize the data so you can understand how and why you arrived at an outcome. It is the “why” that is paramount in marketing to guests better, building a powerful loyalty program, and steering consumers to book direct. Futurecasting builds upon forecasting by adding a layer of prescriptive analytics that looks into the future–to not just forecast a probable result–but to futurecast the optimal outcome. Get the full story at IDeaS