Triometric and Revva — partnering to help online B2B travel businesses get the most out of their data for distribution and revenue management
Triometric recently announced its agreement with Palma-based Revva to work together on business development initiatives in Palma and beyond. Today we are talking to Marcello Bresin, the enthusiastic entrepreneur and Chief Data Officer behind Revva, a start-up dedicated to helping tour operators and online travel companies take on the competition by using their data and translating it into revenue management insights. Marcello is passionate about data, technology and travel and has built up his expertise working for both travel providers and technologists. His inside industry knowledge is behind the launch of Revva last year with the aim of levelling the playing field in revenue management for hotel distributors and tour operators who often deliver niche value over scale of operations.
Why did you decide to partner with Triometric?
I have long been an admirer of Triometric’s approach to helping travel distributors better understand their search traffic and business opportunities. I like the way they have spent a lot of time working with and listening to their travel customers to develop a solid performance monitoring and intelligence platform that is flexible and scalable. Not only does the Trio platform monitor APIs and web services in real-time but also unpacks the content of the XML messages to extract the intelligence they contain. Understanding the nature and context of the search traffic is important to all online travel players regardless of size. Responding with speed, and making sure products are relevant is the key to staying in the game and Triometric’s platform is pretty unique in helping organisations with these challenges.
We also recognise Triometric has done a lot in the last year or so to bring API business intelligence to the reach and affordability of smaller players without compromising its dominant position among larger players such as Hotelbeds.
What does Revva bring to the partnership
We believe we offer Triometric’s new customers added value by bringing market and data expertise to the table in a consultative approach. We believe we can bring to bear our close relations with the Triometric team and our technology expertise to help customers evaluate the Trio solution for their business needs, speed up implementations, and get the most out of their data and the opportunities to use the insights it gives. We see ourselves as Triometric’s sturdy feet on the ground and able to assist where needed and as needed in order to grow the Spanish customer base. For customers, especially the smaller ones we see ourselves as the local expertise or hand-holders that can make a real difference to getting the most value from their BI project, especially where in-house data expertise may be limited.
We have a lot of synergy with Triometric in terms of the markets that we target and the importance that we place on high quality software development and customer service. Working together in business intelligence space strengthens our respective portfolios of skills and offerings.
One such example is the newly launched Trio Data Engine, which takes XML data from multiple sources and prepares it for downstream analysis by a variety of leading BI applications. One such consuming application could be our own Revva Platform. Not only do we take data from multiple sources in order to analyse and visually display it, but Revva can also provide forecasts and clusterings and other artificial intelligence-powered analytics features that are much in demand by today’s data analysts.
Where does Revva fit in?
At Revva, we too have our roots in making accessible the power of business analytics to travel companies, especially the smaller ones who could benefit most. Both companies deliver critical cloud-based business intelligence. In addition to its enterprise strength solution, Triometric now offers a SaaS version of its platform aimed at the smaller players, many of whom we know well. Trio offers API monitoring and inventory availability management, two critical areas of focus for accommodation distributors. We strongly believe distribution intelligence and revenue management intelligence are natural bed fellows. Data emanating from the distribution platform can be one of the supporting data feeds for the revenue management system, such as Revva. Indeed Revva prides itself in being the very first revenue management decision-support system powered by artificial intelligence (AI) for the travel industry.
There is a new breed of travel manager emerging with one intellectual foot on the distribution road, and the other on the revenue management road. Systems offering synergy to help him beat his competition will win his attention.
The benefits of BI that everyone should have
BI plays a critical role in decision-making, especially in large companies. For the smaller or medium company it can also be feared as being costly to implement and resource. But technology has changed that and is demolishing those fears. Companies like Triometric and Revva are doing our bit to make BI and the value it brings more accessible as well as affordable. BI can come in smaller packages. There are four BI features that are essential and which both the Trio and Revva BI platforms offer. These are:
- Dashboards – small businesses are short on time and don’t generally have resident data experts. So spending time and energy on analysing data isn’t a realistic option. Enter dashboards – they give a quick at a glance view of multiple metrics. Drill down capabilities can quickly help analyse the route and cause of issues or anomalies – such as poor response times or timeouts, or falling off the inventory availability cliff for no foreseen reason.
- Routine reports – these can also be generated according to pre-prepared formats so that the data and insights are regularly or ad-hoc available.
- KPIs — dashboards are great, but they aren’t the whole story. For them to be useful, you have to make sure they’re filled with the right key performance indicators (KPIs). At the same time you don’t want to overload the dashboard with too many KPIs. Most businesses have key KPIs that help drive their business, but of course it’s important to identify the right ones.
- Ad-hoc queries – which self-service BI systems offer – so that specific answers can be found to specific queries.
These four items are foundational and help companies effectively manage their operations, sell and engage with customers and uncover new opportunities. Although it sounds a cliché – our business model is to help companies take the step from thinking about BI to seizing the opportunities. In other words using our platforms and expertise to turn theory into actionable and profitable solutions.