Grant details

Predictive analytics for optimising pricing strategies in travel

Project Name:

POIR.01.01.01-00-1252/19 Development of an intelligent predictive system for the tourism sector using advanced methods of multidimensional data fusion and machine learning

Project timeline:

01 October 2020 – 31 March 2023

Project Description:

The project’s goal is to carry out research and development work leading to the development of a unique on a global scale intelligent system of price prediction for travel offers. It will be based on the latest achievements in processing massive data sets (Big Data) and machine learning (with particular emphasis on deep learning).

The solution will use unique, dedicated to the travel market, prediction algorithms for the prices of travel offers. It will be based both on the example of holiday packages, based on historical data and external factors that may affect the price of the travel offer. The approach taking into account travel prices’ external and internal determinants will be the first systematic attempt to examine the impact of various factors on travel prices for holiday packages worldwide.
Solutions of this type, dedicated to the travel market, are not available worldwide.

The effect of the project implementation will be the development of innovative solutions enabling effective selection of travel offers by:
A) consumers based on information provided by price prediction mechanisms (B2C segment),
B) advanced historical data analysis for the travel market available as Software as a Service for travel companies on the market (B2B segment).