Technology : big data
Hotel companies don ’ t need big data to get any bigger . rather , it ’ s making use of the massive stockpiles they already have that presents the greater — and potentially more lucrative — challenge .
contributed by Brendan Manley
Hotel companies are looking less these days toward making their warehouses of “ big data ” still bigger , and are instead working on new ways to analyze and harness the information they already have . Frequently , this can be a tall order , which only becomes more difficult the larger the pool of data in question becomes . Thus , as the big data trend matures in the hotel business , experts say greater reliance will be placed on third-party partners with various analytics tools , while internally , companies shift their cultures toward an all-encompassing data-driven mentality . Simply speaking , for many companies that means looking less at lengthy Excel printouts and / or relying on one ’ s “ gut ,” and instead having all the pertinent information available with the click of a mouse .
“ The hospitality industry in particular has an immense amount of customer data coming from a number of different systems — PMS , CRS , loyalty , social — but many times systems aren ’ t integrated and the data lives in silos ,” says Brigette Pence , director of relationship marketing and Hello Rewards for Red Lion Hotels Corp . “ Unless you have a very advanced analyst dedicated to sifting through the mess of data , many find themselves unable to pull this data together into something meaningful . This industry , in particular , needs to embrace CRM systems as a required technology in their technology platform to stay abreast of competition .”
Intelligent rates As hotel companies work to accumulate and harness more customer data , one of the areas observers have anticipated will be affected is bookings , and more specifically , dynamic pricing . The idea is , with more information in hand on both guests and the properties in question , revenue managers are better equipped to tweak rates and drive bookings that might have otherwise been lost . It ’ s a compelling idea , but one that still presents challenges . www . hotelsmag . com December 2015 HOTELS 47