Traditionally, forecasting has included human judgment and/ or guessing. The process has often been described as “guesstimation.” For instance, people are easily affected by user interface issue or rewarding policies during this process. The purpose of the study is to study and understand how revenue managers and other decision makers “make noise” during forecasting, especially when utilizing the advanced RMS, and to offer constructive suggestions to overcome the issues related to human judgment. In other words, the main objective of this study is to analyze the known influential factors for the interaction of revenue managers’ judgment and RMS tools by reviewing existing literature and making suggestions to improve forecasting in the hotel industry.
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