5 Ways Big Data Can Help Those in the Hospitality Industry


Blog#5 : 5 Ways Big Data Can Help Those in the Hospitality Industry
Name : Aileen 蔣慧玲
Student ID : D0726917
What is Big Data?
Big data means an extremely large sets of data that come into a business on a day-to-day basis. In hospitality industry, these data sets include customer behavior and interactions. Big data can be used in both predictive and behavioral analytics, this can help companies to identify trends and patterns of the market.

5        Ways Big Data Can Benefit the Hospitality Industry

1.      Revenue Management
By combining the data that they gather themselves with the information available online, hotels can use big data to help them make the best revenue management strategy. Using predictive analysis, hotel owners can make a more accurate anticipated levels of demand for hotel rooms. Useful data like past occupancy rates, current bookings on the system and various key performance metrics, and also external data, such as information about school holidays and local events can be used to predict demand. After big data has been used to predict demand, hotel owners can take actions to optimize room rates and maximize revenue and profit.

2.      Targeted Marketing
Big data can also help to target marketing content effectively. Big data provides an ability to identify the best opportunities for a particular business and target demographics specifically through online advertising. This also include location and time-specific marketing, which allow hotels to reach customers at the most relevant time and place to them.

3.      Customer Experience
Big data can help hotel owners and customer service team to identify customer opinions trends and learn their strengths and weaknesses. This requires service usage data, feedback from customers on social media, reviews posted on websites, etc. By using big data in this field, hotels are able to understand what customers like and improve their services.

4.      Additions Services
Interactions between hotels and current or potential customers provide information about the services that customer use and also the services that they request or ask about. This extremely large data can be used to help hotel owners to make decisions about new services to implement, as well as remove services that are no longer needed.

5.      Competition Scouting
Big data can be used to see what our competitors are offering to their customers. We can get information about our competitors from customer opinions, reviews on websites, social media, etc. This kind of information can help hotel to take advantage on its rival weaknesses and learn their competitor strengths.

From the article, we know that big data is a key concept in the hospitality industry. There are a lot of reasons why hospital owners need to make use of big data in their business. First, it can help hotel owners to identify important patterns and trends in the target market. Second, hotel owners can use big data technologies to help them generate more revenue by improving revenue management. Third, it can optimize marketing efforts. Fourth, big data helps to provide a better customer service by enhancing customer experience. Additionally, there are still a lot of benefits that we can get from using big data analytics. 


Comments

Post a Comment

Popular posts from this blog

How Big Data Can Boost Weather Forecasting

張岳庭 D0741017 Source:  https://www.wired.com/insights/2013/02/how-big-data-can-boost-weather-forecasting/ Considering the number of variables involved and the complex interactions between these variables, weather forecasting has always been extremely challenging. The significant increase in data collection and processing capabilities has greatly improved the ability of weather forecasters to pinpoint the time and severity of hurricanes, floods, snowstorms and other weather events. Globally, more and more evidence of climate change is prompting governments and scientists to take action to protect people and property from its effects. But to take effective measures, they need to know more about the weather-from everything that will happen tomorrow to what will happen next year. According to the professor of economics and finance , Alan Anderson, PhD , “Example of an application of big data to weather forecasting is IBM’s Deep Thunder. Unlike many weather forecasting systems...
Read more

How Big Data is Changing the Production Industry

Blog#4 : How Big Data is Changing the Production Industry Name : Aileen 蔣慧玲 Student ID : D0726917 Source :   https://www.productionhub.com/blog/post/how-big-data-is-changing-the-production-industry Information technology plays a major role in Hollywood. Producers have to use big data analytics to get the right consumers and communicate with them well. Big data technologies will help filmmakers figure out the best ways to share their ideas and deliver messages, develop movies and content that involve ethical and societal issues. Therefore, information that we can get from the help of big data can help filmmakers make key decisions. Big Data is Changing the Production Game Big data technology can help filmmakers to connect and engage with consumers more directly using social media, mobile devices and traditional advertising outlets. Using this technology, producers can develop promotions that reaches the right consumer at the right time. It is not enough just to mainta...
Read more

Big Data case study: 5 relevant examples from the airline industry

D0740712 Connie  吳霈晴 Website: https://blog.datumize.com/5-relevant-examples-of-a-big-data-case-study-from-the-airline-industry With the summer vacation coming, travel is the one that people love to do during vacation, especially long vacation, going abroad may be the first choice for many travelers. So this makes me think of what is the relationship between big data and airplanes? How will it apply on the airline industry? This article tells about the benefits of big data on airlines, which covers three main advantages. 1.      Smarter maintenance 2.      Safer flights 3.      Improve service The first one includes the fuel of airplane, by analyzing and predicting, the article takes some specific airplane company as an example, giving the real number and how much they save the cost. Second, safety. Like this kind of transportation has a higher risk to take, if have the big data’s help, th...
Read more