reflective essay on rev sim – revenue managament
reflective essay on rev sim – revenue managament
May 13, 2021 Comments Off on reflective essay on rev sim – revenue managament Uncategorized Assignment-helpAssignment overview:
Data Analytics is an important part of Business Intelligence and a requirement towards the development of smart business decisions. As an increasing amount of data, from an increasing range of sources, becomes available, it is increasingly complex to interpret. Because this information is in different formats, the people that Revenue Managers aim to influence, cannot effectively extract critical trends and patterns therefore data visualization tools have become useful to assist in communicating key influences related to revenue and demand management i.e. proactivity, analytical thinking, timely and strategic decision-making, and forecasting
Overall aim:
In this report, you will need to:
Use information about your hotel, the competition, and the market to develop a sound analysis of the results of your area of responsibility, using data visualization.
• Base your analysis on a comparison of actual performance compared to budget/pre-determined KPI’s as well as previous periods and competition.
• Show, in the most simple and visual way possible, how competing businesses impact each other and adapt as situations change
• Demonstrate how you have contributed towards the successful completion of the first 4 quarters of operation (within RevSIM)
Learning Outcomes and Transferable Skills
LO1 Evaluate business opportunities for revenue optimization, driving both revenue and profitability.
LO2 Critically review management decision making to maximize revenue and profitability.
LO3 Apply revenue management principles to alternative service sectors while considering multiple sources of revenue for hospitality business owners.
TS1 Communication
TS3 Information literacy
TS4 Numeracy skills
TS5 Using technology
TS6 Learning how to learn
Report Format
Title Page: Assignment Title, your first name and last name, course name, date, University name
Table of contents: Properly formatted with page numbers/List of tables and list of figures Not the actual tables or figures, but the numbered list with table and figure titles and page numbers where they appear in the text
Executive Summary of the major findings
Introduction to context: hotel, team, particular challenges
Data Visualisation: Use information about your hotel and the market to develop a sound analysis of the results of your area of responsibility
Self-Reflection on your contribution towards the successful completion of the first 4 quarters of operation (within RevSIM)
Conclusion of the report
References
Using the rev sim stimulator
http://glion.revsim.com/3c926
Access codes
Leader:
02cf2
This is the rev stimulator that we have to base our reflective essay on
MY PARTS ARE: MARKETING AND ADVERTISING, STAFFING and FACILITIES
we have to do the visuals from excel
and under each visual should be a paragraph explaining
the essay should be like a story explaining what difficulties are faced and etc
attached is a sample of how the essay should be more or less the same intro
just the parts are going to be staffing , advertising and marketing and facilities
should focus on atleast 2 quarters of the stimulator