Use of Analytical Methods in Variant Forecasting Tasks

The article presents an overview of modern data analytics methods and techniques used in forecasting tasks and considers key aspects of using data analytics in the context of the hospitality industry. The hospitality industry is particularly dependent on accurate forecasts, as effective management of occupancy, pricing, and guest service is critical to the successful operation of hotels. The application of data analytic techniques to forecast various phenomena and events and to assess the quality of forecasts is emphasized. The application of such techniques can reduce costs, increase revenue, and improve overall guest satisfaction.