scholarly journals Prediction of hotel bookings cancellation using hyperparameter optimization on Random Forest algorithm

2020 ◽  
Vol 9 (1) ◽  
pp. 15-21
Author(s):  
Yufis Azhar ◽  
Galang Aji Mahesa ◽  
Moch. Chamdani Mustaqim

Cancellation of hotel bookings by customers greatly influences hotel managerial decision making. To minimize losses by this problem, the hotel management made a fairly rigid policy that could damage the reputation and business performance. Therefore, this study focuses on solving these problems using machine learning algorithms. To get the best model performance, hyperparameter optimization is applied to the random forest algorithm. It aims to obtain the best combination of model parameters in predicting hotel booking cancellations. The proposed model is proven to have the best performance with the highest accuracy results of 87 %. This study's results can be used as a model component in hotel managerial decision-making systems related to future bookings' cancellation.

KINERJA ◽  
2017 ◽  
Vol 21 (1) ◽  
pp. 109
Author(s):  
Bharata Bhusan Sahoo ◽  
Alok Kumar Pramanik

Financial Analysts consider as profit the most important measure of business performance. Profit may be expressed in terms of money value and measured as sales margin percentage or be calculated as return of investment. These, in any form, are used as basis for measure of business performance. In recent years, considerable interest have  been shown in the use of value added as an alternative or additional approach to measure the operational efficiency and profitability of a business. A lot of discussion have been going on about reporting the performance of an organization in terms of value added rather than conventional profit or loss. The information disclosed by the Statement of Value Added, based on Value Added Accounting and reporting is considered to be much more useful than that disclosed by the conventional profit and loss account in providing a realistic basis for measuring the economic performance of an organization. The concept has received great attention in accounting practices with the emergence of large corporations having significant bearing on the society and finally on the economy for multi-dimensional impact over and above the owners. Value added system is a very useful measure of judging the performance of an enterprise for managerial decision-making and for inter-firm comparison.Keywords: Value Added; Value Added Accounting and Reporting, Value Added Statement, Annual Report.


2020 ◽  
Vol 74 ◽  
pp. 01029
Author(s):  
Zaneta Rylkova ◽  
Jarmila Sebestova

Managerial decision making is important in an enterprise and in leadership. Strategic objectives are, in general, objectives that an enterprise have to achieve to make its long-range plan that means a strategy succeed, especially in globalized environment. Each enterprise currently face the globalization that is why these enterprise have to know what can be done to achieve enterprise objectives more effectively within the future. The aim of the paper is to identify factors which can have an impact on decision making in the area of strategic objectives. Analysis shows the influence of selected variables such as financial performance, passion for work, managerial skills and communicated strategy on strategic objectives setting to be more open and dynamic or international. The paper is based on primary data collection from a recent survey of enterprises from the Czech Republic and on comparison with international resources focused on decision on strategic objectives. The primary research provides the support for relationships importance between selected variables for the managerial decision on strategic objectives. The secondary research introduces what specifically affects those variables. Moreover, the paper highlights that with managerial skills, a manager will assist the enterprise in achieving its objectives and business performance.


Author(s):  
Zita Zoltayné Paprika ◽  
Ágnes Wimmer ◽  
Richárd Szántó

A tanulmány a vezetői döntéshozatal három lényeges aspektusát tárja fel. A Versenyben a világgal c. kutatási program eredményei alapján arra lehet következtetni, hogy a menedzserek döntéshozatali képességei és megközelítései, a vállalati teljesítménymérés és menedzsment döntéseket támogató szerepe, valamint a vállalatok érintettekhez fűződő viszonya meghatározó lehet a hatékony vezetői döntéshozatal során. A vállalati döntéshozatal jellemzőinek bemutatása után megvizsgáljuk azt is, hogy a különböző teljesítményű cégek döntéseit mennyire támogatja a menedzserek felkészültsége, a teljesítménymérési gyakorlat és az érintettek elvárásai. A szerzők úgy találták, hogy a fenti tényezők mindegyike hozzájárul a hazai cégek versenyképességéhez, általánosságban ugyanis elmondható, hogy a döntéseket támogató vállalati környezet jobb üzleti teljesítményhez és gyorsabb reagálóképességhez vezethet. Az eredmények összegzése mellett ajánlásokkal is éltek a vállalatok számára, amelyek alkalmazásával hatékonyabb döntéseket hozhatnak. _______ This study presents three main aspects of the managerial decision making. Based on the results of the research program In competition with the World it points to the fact that decision making abilities and approaches of the managers, the corporate performance appraisal and the management decision support role, and the corporate relations to the stakeholders will be determinant in the process of the efficient managerial decision making. After presentation of characteristics of the corporate decision making the authors examine that how the decisions of enterprises with different performances are supported by the preparedness of the managers, the performance appraisal practice and the stakeholders expectations. The authors have thought that every factor contributes to the competitiveness of the domestic enterprises, and generally the decision supporting corporate environment can lead to better business performance and faster responsive abilities. Besides the results summary the authors give useful recommendations to the corporations with which they can make more efficient decisions.


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