Like so many other gnarly natives of the 1980s, IDeaS is now three decades old and feeling better than ever
IDeaS turning 30 got me thinking, in a world where companies come and go overnight, what are the signs a business is aging gracefully or, more appropriately, growing thoughtfully? Since I can speak from experience—I happen to be in my 30s myself—I couldn’t help but draw some parallels between what it means for both a company and a person to reflect on reaching their 30s.
IDeaS and I were both born in the 1980s. A decade that has since become synonymous with change…and big hair. The ‘80s ushered in some rad shifts across pop culture, from fashion to music to the movies that have become our classics. And revenue management is no exception, thanks to some totally righteous innovations first created by IDeaS.
Like a fine wine, IDeaS has matured into a sophisticated, wise, and powerful revenue management company, but we’ve never lost our startup spirit and passionate curiosity. So what else does it mean to reach the big 3-0? Here are the top three signs you—or your company—may have successfully made it to your 30s:
1. You realized it’s time for a new look. You’re still allowed neon, just in moderation.
We all try different looks. And sometimes we hang onto some a little too long. It still perplexes me acid wash jeans once went with any top, so long as you tucked it into the jeans.
IDeaS recognized it was time for an update and put a fresh spin on its classic user interface. The key with any upgrade on a classic is to pay homage to what made it special while keeping it modern.
Our colors are smarter, our aesthetic is with intent, and our lines have been cleaned up. We gave our flagship solution IDeaS G3 RMS the equivalent of a new wardrobe and a Botox injection, and there is no shame in our game. That doesn’t mean you still won’t see some of our “go-to” looks, but we’ve taken the old and made it bold.
Spend a little time in the new IDeaS G3 RMS interface when you have a moment and explore. We are totally stoked about it. If you don’t know what you’re looking for, click the “Show Me” button along the new left-hand navigation bar and pick from a menu of “How Tos” the system can intuitively walk you through, step-by-step.
2. You know what you’re looking for and won’t settle for a wannabe.
As a revenue manager, you never need to understand why your RMS picks a certain price. NOT! Of course a revenue manager wants to know the WHY behind a price.
I blame this lack of trust in artificial intelligence on The Terminator. Imagine if you were going to lead the charge in transforming your revenue strategy, and the technology you use to do so ends up causing the apocalypse and even goes back in time to destroy your own mother—way harsh! I’d be apprehensive, too.
Our solution: IDeaS Investigator (at least until IDeaS G3 RMS solves for time travel so it can send itself back in time to save your life and slowly form a childhood bond with you).
IDeaS Investigator allows you to quickly gain an unprecedented level of visibility into the reasoning behind the system’s pricing decision. We know G3 RMS optimizes pricing continually based on any number of factors around price sensitivity, competition, booking pace, and segmentation. If you have any need to validate or justify a pricing decision, IDeaS Investigator is a great new place to start. Like G.I. Joe says, “Knowing is half the battle.”
3. Stay agile, it’s the key to longevity.
“Let’s get physical,” a mantra of the ‘80s, right? And if 30 is the new 20, then IDeaS knows it needs to stay spry. We all hear the phrase “garbage in, garbage out” so whether that’s your diet or your data, we ensure our agility leads to better, faster, stronger decisions for our clients.
IDeaS’ agility comes not from getting physical but getting more analytical (if that’s even possible). Agile Rates, also known as independently priceable products, allows for an additional layer of pricing power over some of your largest producing discounts and rate plans. Think about the rules or settings you manage in an attempt to have discounts, like advanced purchase, adapt to demand the way BAR pricing can.
Agile Rates gives a G3 RMS user the ability to flex and optimize discounts or derivatives for different rate plans. Equally important, we’re also giving the system more intel on the pricing impacts and sensitivities of high-volume rates, often more valuable to revenue performance than BAR. The key to Agile Rates is the underlying revenue science constantly evaluating the relationships between rates and segments as it sets pricing to obtain the best mix of business that drives maximum revenue.
Talk about revenue transformed. I can almost guarantee if my favorite robots of the ‘80s found out about this, they would simply say, “Transform and roll out!”
So happy birthday, IDeaS!
I pity the fool who thinks they can rival the wisdom and expertise you bring to revenue science and transforming the capabilities of industries from hospitality to parking. Remember age is just a number, and just like data, it’s not how much you have but what you do with it that makes the difference. Party on, dudes!
Celebrate with IDeaS at HITEC & ROC
The world’s biggest hospitality tech and revenue optimization events are going down next week in our hometown of Minneapolis. Come help us celebrate 30 years of innovation and revenue transformation and discover our suite of sweet revenue science solutions.
HITEC – Join us at booth #1415 for a cake-cutting ceremony at 2:30 PM on Tuesday, June 18. We’ll also hand out pull-tabs throughout the show. Lucky winners will take home an Amazon Echo.
ROC – Meet us by the registration table where we’ll be giving away Minnesota treats. And be sure to stick around during afternoon break for more birthday cake with your favorite revenue optimizers.
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