What is “Seasonality” in the context of PMI?
The hospitality industry has been challenged with the “seasonality epidemic” and d2o is delivering the antidote. It all starts with the data and some unique algorithms with PMI.
Continue reading for a quick lesson on Seasonality basics: Class is in session.
So, what is Seasonality?
It is the characteristic of a time series in which the data experiences regular and predictable changes that recur every calendar year. For example, Christmas, New Year’s, Passover, and Thanksgiving are considered seasonal holidays because they occur once a year and usually during the same time frame, or, on specific dates. The Easter holiday tends to misbehave as the stepchild every few years, and so, this event is an exception. Luckily, PMI is all about customized forecasting for the unique seasonality of properties around the globe.
How can we use Seasonality in PMI?
In brief, PMI will enable you to better understand and use Seasonality in your future forecasts. The PMI technology has a few hidden algorithms in the background that will make your workload as a manager or supervisor less stressful when it comes to scheduling a large hospitality team. As PMI receives more feedback overtime, the forecasts continuously improve. The result is a more efficient operations team meeting and exceeding the demand of their customers. That’s the Seasonality basics with PMI. But we are just getting started!
In the next article, we will discuss how Seasonality requires multiple inputs or components. With these components carefully considered in conjunction with PMI, we deliver an educated guess. Let’s say PMI delivers an exceptionally educated guess. With reliable data, continuous feedback and trusted algorithms, PMI technology is delivering forecasts that help us predict the future. This means high quality and reliable services for guests during every season.