
The intelligent use of 'big data' is essential to any growing business. The way data is analyzed and leveraged is unique to each operation. Big data refers to informational data sets that identify patterns, trends, and can be used as an element for operational predictions and forecasts. It is made up of volume, velocity and variety. Volume is the abundance of data. Velocity is the continuous accumulation of data. Variety is the combination of data sources that often reveal 'I didn't know that' moments when merged in analysis. Most hotels use big data to optimize how they market to and engage guests. However, forward looking hotel operators also use data analytics to create more efficient and profitable businesses. READ MORE