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Big Data – Life is a Statistic How to structure your data and use it profitably
More efficient processes and higher profits
Loads of data are now being collected , thanks to social web activities and digitalisation . The opportunities this data offers for optimising marketing potential and improving interaction with customers is just as immense , particularly in hospitality . Higher profits are possible along with more efficient processes . However , such goals can only be achieved when the data is collected , saved and analysed properly . Large companies like Amazon and Google are constantly following the data trails of their customers , making the way more attractive with personalized offers . While making customer choice much easier , it also leads to product and service innovations and enhances customer loyalty significantly .
Yet , not many companies are able to take advantage of their data reserves with such sophistication . The reasons range from data protection regulations to a lack in manpower , financial resources and technical know-how .
Changing Requirements
It ’ s often in the hospitality sector that data gets stored but never used : only an estimated 0.1 percent of the relevant data collected is actually processed . The vast quantity of data would overwhelm a simple property management system . Furthermore , a separation between operational and analytical systems can hinder useful evaluation . Measures undertaken in email marketing or survey feedbacks are rarely linked to the guest profile .
Marketing managers will have a much more demanding job profile in the future : In addition to creative talent , he or she will also need an in-depth understanding of analytical and technological data management . Too much data is currently “ floating ” around , unused , in different systems , fated for deletion at the end of the day . Big Data , however , makes it possible to predict individual customer needs and create more intelligent and attractive travel experiences . In sum : The sooner you get started actively making use of your “ data goldmine ”, the sooner your company can begin reaping the benefits .
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Using Big Data Effectively
• Quality , not quantity : Focus on the data that will contribute most to your hotel ’ s success .
• Determine key data and analyse regularly : Include this data in your marketing plan and routine management reports .
• Ensure all business areas are included : Only when all data is combined together meaningfully , can reliable information be gained .
• The human factor : Always remember that you ’ re working with very sensitive data from your customers .
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