What is Historical Data and How Do We Use It?

What is Historical Data and How Do We Use It?

Understanding a listing’s historical data is essential for anticipating future trends and optimizing pricing strategies. By learning from past performance, you can make informed decisions about your listing and gain a competitive edge.

What is Historical Data?

Historical data refers to information collected from past bookings and market trends, such as booking patterns, rate changes, and occupancy levels. This data helps property managers make informed pricing decisions and better understand their market.

PriceLabs leverages historical data to:
  1. Adjust your prices dynamically.
  2. Provide insights into your market’s trends.

Dynamic Pricing and Historical Data

PriceLabs uses three main market factors to calculate recommended prices:

1. Seasonality

Seasonality reflects how demand changes throughout the year in your market. For instance, listings near a beach typically experience higher prices and occupancy during summer. Historical data identifies these patterns, allowing PriceLabs to adjust prices accordingly.

2. Demand Factor

Demand Factor captures specific market trends, such as holidays, events, and weekday fluctuations. It also accounts for last-minute discounts or far-out premiums to ensure your pricing reflects real-time market demand.

3. Pacing Factor

Pacing Factor applies when current market demand deviates from historical patterns. Adjustments are made based on how much the market is over- or under-performing compared to previous years.
For a detailed explanation, check: How Are the Price Recommendations Calculated?

Listing Neighborhood Data

Neighborhood Data allows you to compare your listing’s current prices, occupancy, and bookings to:
  • The broader market.
  • Your listing’s performance from the previous year
    • For a detailed explanation, check: Listing Neighborhood Data

    Portfolio Analytics

    Portfolio Analytics is a free PriceLabs service that helps you track and compare your listing’s performance against its past data.

    KPIs & Historic Reports

    1. Compare performance metrics between two date ranges.
    2. View graphs showing trends over multiple years for various metrics.
    For more information, you can check here: Portfolio Analytics: KPIs & Historic Reports

    Pacing Reports

    Overlay your current listing’s performance against:
    1. Market performance.
    2. Your own listing’s past performance.
    This comparison helps you identify whether your listing is lagging behind or meeting expectations.

    For more information, you can check: Portfolio Analytics: Pacing Reports

    Market Research

    Market Research includes two key services which utilize historical data to provide valuable insights into your market.

    Market Dashboard

    Provides insights into your market’s historical revenue, pricing trends, occupancy rates, and demand. Use this data to benchmark your listing’s performance or explore investment potential.

    For more information, you can check here: Introduction to Market Dashboards

    Revenue Estimator Pro

    Offers an estimation of potential income for your listing or a specific address, based on market performance over the past year.


    By effectively leveraging historical data, you can gain a clearer understanding of market trends, optimize pricing strategies, and maximize your listing’s potential.

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