Artificial intelligence (AI) is the talk of the town. It seems to permeate every sector, and everything now needs to be smarter than ever. AI has become the trend in many software solutions. After years of discussing BIG DATA, today it seems that without AI, nothing can move forward. But as always, it’s necessary to make a clear distinction between algorithms designed to replace humans and those that aim to assist them in their work.
The market is ready, and we want to provide an adequate response: MyForecast RMS is a software solution that combines the complexity of data analysis with the simplicity of daily use. Our AI project connected to MyForecast RMS may not be the first of its kind, but it is designed to speed up some of the processes involved in determining pricing strategies, always keeping the intelligence of the software user at its core.
Currently, we are developing the core of this data-driven process, which will continue to expand. An all-Italian project that has enabled the activation of a PhD scholarship with the Department of Mathematics and Computer Science at the University of Catania, co-financed by MyForecast RMS through the PNRR plan, aimed at studying and applying innovative algorithms for Machine Learning in revenue management systems.
The goal is very ambitious: PhD candidate Susanna Saitta has been working for a year, collaborating with the support & project team to define the project requirements and with the development team to build the software architecture that will manage its operation.
Our first goal is to dynamically suggest a sales rate using artificial intelligence algorithms, specifically utilizing Machine Learning and Deep Learning techniques. This model will provide price predictions considering the hotel’s characteristics, market pressure, and specially created variables to help the model’s learning process.