The Increasingly Important Role of Data Analytics Beyond Customer Engagement
By Barbara Krzywoszanski Senior Product Manager - Systems, dormakaba | January 27, 2019
I was speaking to a few colleagues recently about 'Big Data' and what they thought it meant to the hotel industry. Our company's technical support representative beamed when he listed all the information an RFID hotel lock could provide to operators. Soon our software development engineer jumped in with a laundry list of services, features and details that could be extracted from our electronic access system.
Analytics in the Hotel Industry - Moving Beyond the Guest
As we went around the table, I sat back and listened to each of my colleagues and noted each specialist's insight. It was clear that big data meant something different to each person. More importantly, it became obvious that big data has a role to play to all touchpoints in the hospitality industry. Today's hoteliers look to big data to optimize their guest's experience and build loyalty. However, few are leveraging operational data that results in operational efficiencies and preventative asset management. Furthermore, with the ever increasing use of mobile technology for both guest and staff usage, information capture and analysis can better support staff training, increase security measures and track movement for optimal service and resource layout
What Is Big Data Really?
Simply defined, big data refers to large informational data sets that, when combined and analyzed, identify patterns and trends that may be used to gain visibility into the components that make up a business' processes and operation. When data is used well it forms the foundation for accurate forecasts and predictions.
Big data is represented by three factors, frequently referred to as the 3Vs; Volume, Velocity and Variety. Volume refers to the over-abundance of data that is being delivered. Velocity is the accumulation of data at an ever accelerating delivery speed that can make it virtually impossible to analyze in a timely way. Variety is the combination of expanding data sources that often reveal 'ah ha' moments when creatively merged for analysis.