Data summarization, Forecasting, Optimization & Pricing, along with the User Interface are the fundamental functions behind all of ORMS.
Data summarization/modelization - All data is interpreted in real time into the data model structure, providing the pre-conditioned data to all other processes instantaneously.
Forecasting - Time series method using historical data as the basis for estimating future outcomes to maximize revenue. ORMS uses the following in its forecasting process:
Optimization - ORMS uses a full depth Length of Stay pattern optimization that generates Length of Stay (LOS) specific hurdles (price points) per product, for 60 days out from the current business date and daily hurdles are applied for the remainder of the booking window.
All data is processed in real time in the ORMS model data structure. Forecasts for any time in the future and adjustment to hurdles are in real time, as justified by reservation activity.
The following diagram displays how the ORMS Data Process works.