Market Segments Setup

Use this Market Segments topic if your setup page looks like in following picture:

This can be because your Reservation SystemClosed The primary reservation system, like a PMS or CRS, that provides data to G3 RMS. The data from that one system is used by the RMS to forecast, optimize and produce controls. The controls are sent to all selling systems, which for some integrations may exclude the reservation system. doesn't support splitting market segments, because your property uses Limited Data Build, or due to your subscription. If your screen looks different and is split into two sections, this text doesn’t apply to you. View the Market Segments setup instead.

What Help Do You Need with Setting Up Market Segments? 

Why You Need to Set up Market Segments

To achieve the best possible forecasts and decisions, G3 RMS forecasts different types of business differently. The market segments that G3 RMS imports from your reservation system represent different types of business. Why not use them to forecast?

Market segments are not ideal for forecasting purposes because they often have low volumes of booking data. Low data volumes lead to higher uncertainty in forecasts. Therefore, G3 RMS combines market segments with similar characteristics and patterns into Forecast Groups:

  • G3 RMS detects market segments with similar patterns.

  • You define their characteristics by assigning attributes that describe their behavior. For example, whether they are fixed-priced or derived off BAR.

Together, you and G3 RMS convert the original market segments into Forecast Groups. The goal is to provide G3 RMS with Forecast Groups that contain robust amounts of booking data.

Setup Steps

Market Segment setup is a four-step process:

1. Plan for Setup

  1. Know what type of business your market segments contain. The data in G3 RMS comes from your Reservation SystemClosed The primary reservation system, like a PMS or CRS, that provides data to G3 RMS. The data from that one system is used by the RMS to forecast, optimize and produce controls. The controls are sent to all selling systems, which for some integrations may exclude the reservation system.. It usually covers the past one or two years. If needed, educate yourself about your market segments. You might find information in corporate documentation or in your reservation system
  2. Become familiar with Market Segment Attributes to understand how G3 RMS categorizes business.
  3. Review your market segments one by one in G3 RMS and consider the appropriate attributes.

2. Assign Attributes to Market Segments

The code and name of your market segments are listed as imported from your reservation system. You need to assign the appropriate Attributes and Forecast Type to describe the behavior of market segments.

  1. Click , then Forecasts, and then Market Segments.
  2. If you are accessing this page for the first time, you are asked to initialize the market segments list. Click Initialize to continue. If you are returning to the page after initialization, click the refresh icon . That ensures that all unassigned market segments display in the left pane.
  3. Click the Edit icon next to a market segment to open the Edit MS window.
  4. If you want to change the Market Segment Name, click the Edit icon . This is optional, the name does not display outside of the Market Segment setup page.
  5. Select the appropriate Attributes and Forecast Type. Based on common sense rules, G3 RMS limits the attribute options and only shows valid combinations. For example, G3 RMS considers all Qualified business as Fenced, so Fenced is not an option for Qualified business. Likewise, G3 RMS forecasts demand and wash for all Unqualified business. Therefore, its Forecast Type of "Demand and Wash" cannot be changed. Point to each Attribute to view its definition or refer to Market Segment Attributes.
  6. Click Assign.
  7. Finish assigning attributes for all market segments.
  8. Review and fix mistakes, if necessary.

The Equal to BAR attribute directly impacts the pricing decisions. Only use it for business that is booked at the value of BAR. Don't use it for discounted business, such as advance purchase rates.

What if I Have Duplicate Market Segments?

What if you made changes to your market segments, and G3 RMS lists both the old and the new market segment? If you renamed a market segment and it remained the same otherwise, make sure both have the same attributes and end up in the same Forecast Group. What if you changed your market segment structure, for example, splitting one old market segment into two new ones? In that case, the attributes likely differ between the old and new ones.

3. Complete Other Required Setup Work

After assigning attributes, finish the steps below before continuing with the next step in the Forecast Groups tab.

4. Create and Commit Forecast Groups

Once your IDeaS representative lets you know that you can proceed, use the Forecast Groups tab to create and commit Forecast Groups. G3 RMS determines which market segments to combine based on both attributes and booking patterns. After you commit the Forecast Groups, the system is in Decision CreationClosed A processing status in which G3 RMS is producing forecasts and decisions, but not sending them to the selling system. system mode and produces the first forecasts and decisions.