Chief Revenue Officer
With customers creating valuable data at every stage of their journey, travel & hospitality providers got to do more to collect and connect these data points to improve the customer experience. Whether you are a customer who wants a super -easy booking process, a hotel executive who wants advanced customer analytics to design better loyalty programs or an airline representative who wants a better check-in process at the airport, Big Data has impacted every segment significantly for the better.
RateGain has been taking giant strides in innovating cloud-based solutions for the travel and hospitality sector. “The number of data sources to analyse the customer are increasing and companies cannot focus on investing in technology continuously to meet the ever growing need of data and data management. Therefore, they should look to adopt a platform approach which allows them to configure the data output and insights as per their demand”, opines Apurva Chamaria, Chief Revenue Officer at RateGain.
Connecting the Industry for the New Traveller
Assisting clients to not only look back, but also look forward, RateGain has made considerable investments in MLAI driven proprietary solutions with a constant investment in talent to create products that enable them stay to stay on top of the preferred vendors list of the biggest brands of Hospitality and Travel companies.
RateGain today offers cloud-based solutions that help any company in the hospitality industry ensure that the connected traveller gets the seamless experience they desire. The company started its journey by providing rate intelligence to the industry and as of today shops more than 240 billion data points annually to over 12000 customers. Over the years, RateGain has invested in creating partnerships with 287 demand partners and developed connections to over 600+ OTAs to help the industry with a
real-time rate recommendation and update, the largest channel management and distribution capability, an intelligent content management solution as well as the most - comprehensive online reputation management solution tailored for the industry.
" RateGain today has 300+ qualified and experienced big data specialists specializing in different disciplines"
RateGain today has 300+ qualified and experienced big data specialists specializing in different disciplines, working towards achieving the best out of every product built. Moreover, the company has invested in building out its data science team, engaged in cutting-edge research and development in leveraging machine learning in all its products wherever applicable. This implies that all of the RateGain products have been developed in-house from concept to finish, with the company possessing the total ownership of the IP related to the products.
As Apurva explains, every product ever made by RateGain has a 3-year strategic roadmap, delivered through quarterly releases. Each release addresses innovation, customer care issues, and customer feature requirements. The company uses an experience first approach to defining the releases, where the customers are invited to review and validate RateGain’s ideas and design before any code is written. Besides this, a culture promoting feedback ensures that every customer is contacted on a monthly basis through an NPS survey, allowing RateGain to understand clearly when and where the product requires improvement.
How RateGain is Decoding Big Data for the Airlines Industry
Based on the strategic roadmap, one of RateGain’s key product for Airlines, AirGain, is a real-time airline pricing intelligence solution that uses MLAI to collect and analyse airline fares for diverse categories and attributes across multiple distribution channels. The company has been investing heavily to substantially impact the decision making process of today by improving both efficiency and experience for both airline revenue managers and the travellers.
With AirGain’s in-built customizable dashboards, an airline can easily tackle rate parity across all distribution channels, ensure it continues to have a market leading position and address critical business challenges such as inaccurate/delayed pricing, understanding ancillaries pricing.
Currently AirGain captures pricing data in realtime and represents it in the form of visual insights on Airlines ’ comparative position, market dynamics, yield per departure, rate disparity alerts and much more. Being a SaaS-based product, it easily integrates with top revenue management platforms.
RateGain is continuously investing in creating features that not only informs Revenue managers about the price but also gives a holistic view of their position in the market. RateGain recently enhanced the capabilities of AirGain with Time Table View for the departing schedules of all the itineraries. Also, the Flight Comparison module allows the agency to view and compare airlines between O&D on different departure dates. Airlines are now empowered to monitor competing channels violating rate parity by exactly matching airlines based on Route, Dep Date, Return Date and Airlines Code.
The company is now investing in partnering with airlines and package providers to give deeper and automated insights using historical data to reduce time to market and help airline revenue managers to take faster and smarter business decisions.
Defining the Digital Future of Travel and Hospitality
RateGain’s mission statement and its strategic direction are to help Travel & Hospitality players execute on their digital strategy and to inspire data-driven decision making in corresponding organizations. To stay at pace in achieving this objective, RateGain is on a constant strive to innovate and build a next -generation digital data foundation that will form the basis for all data, structured and unstructured. “Our vision is to employ advanced learning algorithm to empower our solutions with artificial intelligence and machine learning that recommend real-time enhanced predictions that are accurate”, adds Apurva.
The company with the capability of processing 20 billion data points monthly across 1000+ sources, is now taking the next big leap with its latest acquisition of DHISCO which connects to more than 500,000+ hotel properties across the world and processes more than 25 million bookings in a single calendar year.
With this acquisition RateGain now becomes a fore runner and a dependable end-to-end solution provider of revenue management, fore casting and overall data handling for exceptional customer experience for the industry.