February 20, 2019
How Machine Learning Solves Your Data Paradox
Machine learning will lay the foundation for the future of your digital advertising strategies
Since the beginning of digital advertising, hotel marketers have taken advantage of the wealth of data available to run data-driven campaigns.
Reaching the right customers at the right time with relevant and timely marketing messages is now easier than ever, especially as consumers continue to embrace digital channels.
With this success, the appetite for data continues to grow with hoteliers wanting to learn more about their customers, their behaviors, how they spend their time as well as where they book and on what device.
All this information continues to deliver data-driven campaigns because knowing as much about your customers delivers real results.
The Paradox of our Data-Driven World
As our appetites for data grow, one big obstacle stands in the way: the sheer amount of data now available to us.
On the surface this seems contradictory– the more data we have, the more informed we are when making decisions.
Collecting all this data– consumer information, online behaviors and campaign performance– increases the effectiveness in targeting customers with the right messaging at all stages of the customers’ journey.
At the same time, our ability to process and find genuine insights from all of this data has started to lag behind.
Playing Catch Up
Ever feel like you’re plating catch up?
The reason for this is simple, as humans it has become impossible to keep up with the pace because there is so much available data, which also reduces our ability to effectively optimize digital advertising campaigns at the speed and scale necessary for your data to be useful to you.
We’ve all been there– working through spreadsheets, generating pivot tables to optimize our campaigns, trying to make confident decisions on what channels to focus on, how much to budget for each hotel and in which markets– all while changing priorities to account for different occupancy numbers and the needs at different times of the year.
Ultimately, so much data prevents you from achieving the data-driven strategies you want to achieve.
Machine Learning by DerbySoft
That’s why DerbySoft is implementing machine learning.
Whether it is optimizing bids for metasearch campaigns, forecasting your campaign activity or automatically making bid adjustments to meet campaign targets, machine learning gives you back your time to focus on action and strategy.
Machine learning and big data computing provides the speed and scale needed to analyze the large amounts of data your metasearch campaigns generate. It simply does what you do faster by identifying opportunities and acting on them by finding correlations from multiple variables and data points at the same time.
Machine Learning Gets Better as You Grow
We know that the amount of data you generate will only continue to grow. This growth allows you to scale your ability to process and make quick decisions which will be crucial to your competitive advantage.
By working better as you scale is the key facet of machine learning that will lay the foundation for the future of your digital advertising strategies.
The more data you feed machine learning (with new channels and reports), the better it becomes at forecasting and helping you develop marketing strategies to drive your commercial objectives.
This is why the DerbySoft team is excited about the development of our machine learning algorithms, which enables you to focus your time on strategy and removes the day-to-day chores of wading through reports to find insight that is critical to your growth.
Ultimately, machine learning will automate the decision making process for bid management across all metasearch channels and increase your bottom line.