RateGain, the leader in providing innovative price intelligence and revenue management solutions for travel and hospitality industries, today announced the release of DataSure, a unique machine learning-enabled data quality and data profiling framework that speedily identifies, learns and fixes data sufficiency issues for each and every report generated.
The launch of DataSure would improve and enhance the accuracy level of the data which will be delivered to RateGain’s partner hotels so that they are better equipped to make more effective and informed decisions. The accuracy check process is executed through in-house built artificial intelligence and machine learning systems.
Commenting on the development, Bhanu Chopra, CEO, RateGain, said, “Today the hospitality industry thrives on volumes of data, and it is becoming more critical than ever to attend to the data quality issues head-on. According to a survey conducted by Gartner in 2018, bad data, today costs an average of $14 million per year, and this cost would most likely accelerate as companies increasingly acquire more data and continue to rely on it for their revenue decisions. RateGain is proud to address this issue by coming up with a first-of-its-kind solution that would do the challenging task of data profiling for its clients by running the data through a series of a quality checklist. This will further ensure that our clients are only processing and relying their revenue decisions on the highest quality of data possible”
He added, “We have been investing in our products consistently to maintain optimal levels of Data Accuracy. In April last year, we launched lightning refresh feature in optima that allow hotels to get real-time competitor data in less than 60 seconds. Now, with the announcement of DataSure, our efforts are to eliminate the business risks that the hotels face due to inaccurate data.
DataSure would be rolled out to all the existing customers of RateGain in early 2019. With its launch, RateGain becomes the first player in the industry to tackle the issue of data quality.
RateGain launched Optima in October 2016, as a solution to provide comprehensive rate-intelligence to hotels by tracking more than 500+ OTAs, meta-search sites, GDS, brand sites & mobile apps and more than 900,000+ rooms type data. In a very short time, Optima has established itself as a market leader, helping hotels across the globe leverage the power of price intelligence and maintain rate parity across all channels.