Machine Learning driven framework to address the growing concern of data quality
New Delhi, Jan 10, 2019: 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, Apurva Chamaria, CRO, 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.
RateGain is the #1 provider of SaaS products which help travel and hospitality companies make more revenue every day. RateGain offers products which help with rate intelligence, cognitive revenue management, smart e-distribution, and brand engagement. RateGain is proud to support 500,000+ hotel properties globally impacting 13 Bn $ revenue by providing 240 billion rate and availability updates & powering over 30 Million bookings. RateGain is trusted by 25 out of the top 30 OTAs, tour operators and wholesalers, 23 of the top 30 hotel chains, 7 out of the top 10 car rental companies, top 5 cruise lines, and many leading airlines worldwide. In 2018, RateGain acquired DHISCO which made it the only company in the world to offer end to end smart distribution.
For more information, visit www.rategain.com
Aditi Bhandari, Senior Manager Marketing
Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to the statements containing the words ‘planned’, ‘expects’, ‘believes’,’ strategy’, ‘opportunity’, ‘anticipates’, ‘hopes’ or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, data services and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptance of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost-effective and timely manner, time and cost overruns on fixed-price, fixed-timeframe contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies /entities in which we have made strategic investments.