Until recently revenue managers had to collect, review and analyze numerous data sets each time a room rate needed to be updated and then calculate the ideal rate based on those variables.
This year little Annie will not tell you “Mummy don’t forget my favorite bedtime stories” but “Mummy don’t forget your charger and the power bank!” Digital disruption has not only affected the way we book our holidays, travel and enjoy the sun but also our children’s- and our own- holiday reading.
Psychometrics or psychographics is the field of study that attempts to measure and quantify the classic descriptions that psychology insights offer us. The use of a psychometric formula in order to measure a characteristic allows us to assign its value an actual number for any given individual. With psychometrics we can measure things that aren’t usually thought as measurable such as personalities, feelings, thoughts, beliefs, opinions, values, lifestyles, interests and activities.