For each of the industries in which we offer RM solutions, our technology approach follows a specific sequence of steps:
Estimate / forecast market demand
All further decisions of the system in automated tasks are based on this interpreted knowledge of the market.
Analyze price elasticity
Decisions to make changes in pricing are based on reliable knowledge of the effect of such changes.
Optimize price (or booking limits)
Based on both knowledge of the market demand as well as knowledge on how the customer is expected to react to price changes, the system can determine the best price either by adjusting the actual numerical price values (common in retail, or event RM) or deciding on the best combination of booking limits (typical for the transport industry).