The following is a brief excerpt from the new Starfleet Research study “How to Leverage Business Intelligence to Improve Hotel Performance,” which is currently available for complimentary access. The research findings featured in the study are derived from surveys conducted earlier this year with more than 250 hotel executives and qualified staff.
The benefits of utilizing an integrated hotel BI tool are broad in scope and tend to permeate all parts of the organization. Widespread usage should result in measurable increases in the ease and speed of information access and the quality of decision making as it relates to multiple facets of the business, above and beyond just revenue management.
Getting the most value from business intelligence goes beyond technology and data management; it requires hotels work to foster a culture of data-driven decision making. The best analytic technology in the world won’t count for much if revenue managers still trust their gut instinct and intuition more than what the numbers are telling them.
For a hotel making a BI solution available to employees for the first time, it may be necessary to emphasize this cultural change more than in the case of an organization that has stressed data-driven decision making for a long time, to the point that it has become part of its employees’ DNA.
For employees, the new breed of business intelligence comes as a blessing, if only because of the enormous the time savings it provides them. Time spent chasing down information is time employees could spend doing any number of other things to create value for the business — including, in the case of guest-facing employees, interacting with guests and working to improve the quality of the guest experience.
Now they can get the information and insights they need faster, making it possible to respond and adapt more quickly to changing business conditions or pursue new opportunities. According to the research, BI tools are improving employee productivity and satisfaction at all levels of the organization.
In fact, 94 percent of hotel survey respondents whose companies have deployed a next-generation BI solution “agree” or “strongly agree” that their job performance has improved as a result of greater information access and decision-making ability.
With BI tools, hotel operators can spend more time focused on analyzing the data rather than collecting the data. They can get more work done within the same timeframe, and make better, faster decisions along the way.
The new Starfleet Research study “How to Leverage Business Intelligence to Improve Hotel Performance” is currently available for complimentary access, courtesy of Rainmaker. Click here to learn more and to download a free copy.