The Price Dynamics feature comes in handy when you would like to closely monitor the pricing behaviour of your competitors. Next to that you will be able to see the evolution of different metrics related to your business such as your own rates and the occupancy.
Table of contents
1. Price Statistics
The tab Price Statistics includes data on price dynamics within your market and the rate recommendations. When you look at the Price Dynamics table, you will see the following for the selected date:
- Number of price changes - shows how often you and your competitors have changed your rates since RateManager started tracking this.
- Average change - shows what the average change has been
- Number of price increases - shows how many price increases there have been among all of the changes
- Average increase - shows what the average price increase has been
- Number of price decreases - shows how many price decreases there have been among all of the changes
- Average decrease - shows what the average price decrease has been
At the bottom of the page, you can find statistics on the rate recommendations:
- How many rate recommendations RateManager has provided for this date
- How many of the total number of rate recommendations for that date have been increases
- How many of the total number of rate recommendations for that date have been decreases
- How many of the total number of rate recommendations for that date have been identical to your rate
2. Metrics Evolution
The metrics evolution graph shows you how your rate, your competitors' median rate and the rate recommendation has developed over time for the selected date.