Travel Inventory Demand Simulation for Booking Accuracy
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Solution Overview
Problem
Current systems for managing and benchmarking database systems in the travel industry, particularly in reservation and inventory management, lack effective tools for simulating demand and evaluating inventory management strategies, leading to inefficiencies in availability and pricing decisions.
Innovation Solution
A data processing system that generates simulated demand requests and availability requests for travel inventory items, simulates booking decisions based on availability, and stores simulation data to analyze and evaluate inventory management strategies, facilitating improved management and pricing decisions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If simulated demand requests and availability requests are generated to evaluate inventory management strategies, then decision-making accuracy and inventory optimization are improved, but system complexity and computational resources increase
Solution Approach 1:
The patent creates simulated demand requests that replicate real-world booking patterns and simulated availability requests that mirror actual inventory systems. These copies allow evaluation of inventory management strategies in a virtual environment without affecting production systems, thereby improving decision-making accuracy while avoiding the complexity of modifying real systems.
Solution Approach 2:
The evaluation process is divided into separate components: demand simulation, availability simulation, booking decision simulation, and strategy evaluation. Each component operates independently and can be configured separately, reducing overall system complexity while maintaining measurement precision through modular architecture.
2Measurement precision
If comprehensive simulation data is collected and stored for analysis, then inventory management evaluation accuracy is improved, but data storage requirements and processing time increase
Solution Approach 1:
The patent extracts only the essential data elements needed for evaluation from the simulation process, storing specifically demand request characteristics, availability responses, booking decisions, and strategy outcomes. By taking out only the necessary data rather than storing all possible simulation parameters, the system maintains high evaluation accuracy while minimizing data storage requirements.
3Ease of operation
If multiple inventory management strategies are evaluated through simulation, then strategic decision quality is improved, but computational resources and simulation time increase
Solution Approach 1:
The patent simulates a representative sample of demand scenarios and availability conditions rather than exhaustively testing every possible situation. By using partial action - a sufficient but not excessive number of simulation iterations - the system achieves high strategic decision quality while consuming reasonable computational resources. The simulation covers the essential range of operational conditions without unnecessary redundancy.
Data Source
AI summary
Systems, methods, and computer program products for analyzing travel object management by a database system. Simulated demand requests for a simulation period are received. Availability requests for travel objects managed by the database system are generated based at least in part on the simulated demand requests. An availability response is received from the database system for each availability request that indicates an availability for each travel object. A booking decision is simulated for each travel object for the simulation period based at least in part on the simulated demand requests and the availability for each travel object. Simulation data for the simulation period is stored based at least in part on the availability requests, the availability response for each availability request, and the simulated booking decision for each travel object.