Today's Revenue Management thought:-
Most of us are pretty bad at predicting anything longterm.
The shorter the time span and the greater the impact of our own actions have on the accuracy of the prediction, the better we are at predicting.
Reflecting on this, it is not so much about how good we are at predicting, but more so, what are the benefits we will receive when we are right about the predictions, and what type of harm they can cause to us, when we are wrong.
So it does it matter if your prediction does not come true in the first ten tries and you lose €100 each time, if on the eleventh prediction you get it right and you make €10,000.
Zoom out enough to be able to make the right predictions.
Have a profitable week.
✌🏼