World Panel
Viewpoint18 March 2020

Has forecasting become a lost art?

Revenue Optimization

— 10 experts shared their view

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Has forecasting become a lost art?
This viewpoint was created by
Scott Dahl, Program Director, Master’s Degree in Hospitality Strategy and Digital Transformation at Les Roches Global Hospitality Education
Diego Fernandez Perez De Ponga
Corporate Director Revenue Management Palladium Hotel Group

There is a very popular sentence in the marketing world... "Cash is King and Brand is Queen", in our little world call Revenue we could say "Forecast is King and YOY is Queen", with that I would like to point the importance of the Forecast in our daily task. From my point of view, the use of technology is going to change the way we make a Forecast ... we will have a faster and sometimes better accurate data, the use of Big data and artificial intelligent is going to kill the "ancient art" of forecasting and probably we are are going to be replaced by machines with no soul and no art, but better data.

On the other hand, sometimes I have the feeling in this VUCA world is becoming really difficult to make a decent forecast, the new art of this Revenue world woulb be improvising new strategies and have the capability of changing that in minutes.

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