Our client, a company specializing in providing advanced decision-making tools and software solutions for the leisure, tourism, and logistics sectors, sought to improve their dynamic pricing strategies through a scalable Machine Learning infrastructure for accurate demand forecasting. They collaborated with STX Next to achieve these objectives.
The client faced the challenge of optimizing dynamic pricing for ski passes in unpredictable environments. The goal was to develop a scalable Machine Learning infrastructure capable of forecasting demand accurately and adjusting prices based on various factors, including demand, time, weather conditions, and other external influences.
Additionally, they aimed to simplify the onboarding process for new ski resorts.
After a comprehensive evaluation of the client's requirements, our team introduced a variety of state-of-the-art solutions aimed at enhancing performance and scalability:
Optimized forecasting module
We increased the accuracy of the demand prediction by refining existing predictive models. Using diverse data sources, the module provides precise demand forecasts crucial for dynamic pricing.
Dynamic pricing adjustments
Demand predictions were fine-tuned using pre-booking data and weather features, leading to more informed pricing strategies through a weighted combination of long-term predictions and real-time demand.
Easy client onboarding
New ski resorts were smoothly incorporated into the platform, benefiting from an efficient and simplified onboarding process that facilitates quick adoption of the dynamic pricing system.
Cloud-based infrastructure with DataOps and MLOps
Our team executed a smooth Cloud migration which entailed setting up a scalable infrastructure backed by Kubernetes and Docker, enabling robust and efficient operations.
After a comprehensive evaluation of the client's requirements, our team introduced a variety of state-of-the-art solutions aimed at enhancing performance and scalability:
Optimized forecasting module
We increased the accuracy of the demand prediction by refining existing predictive models. Using diverse data sources, the module provides precise demand forecasts crucial for dynamic pricing.
Dynamic pricing adjustments
Demand predictions were fine-tuned using pre-booking data and weather features, leading to more informed pricing strategies through a weighted combination of long-term predictions and real-time demand.
Easy client onboarding
New ski resorts were smoothly incorporated into the platform, benefiting from an efficient and simplified onboarding process that facilitates quick adoption of the dynamic pricing system.
Cloud-based infrastructure with DataOps and MLOps
Our team executed a smooth Cloud migration which entailed setting up a scalable infrastructure backed by Kubernetes and Docker, enabling robust and efficient operations.
Discover how STX Next can transform your platforms and drive efficiency.
The implementation of these solutions delivered substantial benefits, significantly enhancing financial performance and operational efficiency for the client and their partners:
The data-backed dynamic pricing model enabled precise price adjustments based on demand forecasts, resulting in a consistent increase in revenue per ski pass sold.
By forecasting demand effectively, resorts could adjust prices to maintain or increase occupancy rates, maximizing total revenue when compared to static pricing models.
Resorts minimized revenue losses during low-demand periods through adjusted pricing, enhancing overall cash flow stability and financial resilience.
The system provides resorts with the capability to track and optimize metrics such as revenue yield and average pass price, ensuring a concrete return on investment and improved financial performance season over season.
Schedule a call with our experts to discover the benefits of partnering with STX Next.
Our customers love to work with us
ul. Mostowa 38
61-854 Poznań
Poland
C.11 310 Col. Santa Gertrudis Copo
97305 Merida
Mexico
77 Farringdon Road EC1M 3JU
United Kingdom
c/o Rödl RAe, Taunus Tower, Mergenthalerallee 73-75,
65760 Eschborn
Germany
City Place 1401 Lake Plaza Dr, Ste. 200
Spring, TX 77389
United States
