Proactive Change Management: Best Practices for Revenue Tech Readiness
By Paul van Meerendonk Director of Advisory Services, IDeaS Revenue Solutions | April 28, 2019
Love it or despise it, technological change is constant in our modern existence and professional lives-and the rate of change is exponential. Consider that by the year 2000 around two billion gigabytes of data had been amassed worldwide. Now, less than two decades later, that same amount of data is generated on a daily basis.
Keeping up with the pace of change is hard. Adopting and implementing the latest technology requires an agile business culture. And culture is the key word. The greatest obstacle to your successful change isn't the technology you use-it is, first and foremost, a people challenge.
Change management in revenue management comes down to how hotels transition their individuals and teams and align their resources, processes and technology to meaningfully restructure their organization toward a common goal. And with many hotels now actively pursuing total revenue performance strategies, hoteliers must ensure they keep up the pace and smoothly implement these analytical revenue management approaches throughout their organization.
Before investing in a revenue management system (RMS), hotels need to ensure their house is in order. Let's take a look at how hotels can effectively manage the impacts of applying analytically-driven approaches on their people, processes and technologies.
Think about your organization's change-management culture. What's its commitment to change? When you have an RMS, your hotel will run differently than before. Hoteliers need to figure out who is going to apply sophisticated analytics within their organization. The role of a data scientist is becoming an essential component of an effective revenue management strategy. In-house resources are also becoming more common in larger organizations.