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How hoteliers can use most of business intelligence
Hotel industry generates a massive amount of data on a daily basis, which needs to derive a good amount of business intelligence (BI). BI helps the data in improving the hotels’ marketing strategies and revenue management. It also helps to increase online visits, gain customers and turn customers into loyal patrons. The data is based on the behavior of the guests and other parameters as geography, market, and traffic sources. A business Intelligence uses this data to understand the predictability of online behavior.
Nowadays hoteliers spend more time focusing on analyzing the data more than collecting the data. BI drives the industry to work within the same timeframe to make better and faster decisions.
Following are some of the ways hoteliers are improving their business intelligence capacities:
Improving data quality: Hoteliers should always be attentive to the improvement of data. Manual data entry makes room for errors. Organizations should look for ways to identify and eliminate errors by improving validation at the entry stage, cross-checking reference data against other databases, and employing data cleansing solutions to flag anomalies and contradictions.
Tracking and measuring results: Organizations face difficulties to determine the financial impact of faster and better decisions. Hoteliers should select metrics that influence the performance of the business and users’ areas of accountability.
Collaborating and annotating: Business Intelligence dashboards allow users to add comments and tags to data, which is presented to multiple people. The commentary process enables conversations about data and adds a great value of BI. Hoteliers can ask questions and users can answer, which helps other users to gather information about their hotels and point out the disparities.
Ensuring a positive mobile experience: Hotels should provide users’ mobile dashboard with an accurate and real-time graphical representation of the data. Data in mobile dashboard aid a user with the right data in the right time. This eventually grows the customer engagement with the concerned hotels.
BI enables hoteliers to rely more on accurate market analysis. Hotel industry now realizes the usefulness of using Business Intelligence for increasing the efficiency and profits.