By Roseline Victoria Vijayakumar
The hospitality industry generates copious amounts of data daily, ranging from booking information and property details to room rates, housekeeping schedules and guest preferences. This wealth of information available to hoteliers is an asset that can be put to use, but without the right tools to manage the data, it can become less of an asset and more of a hindrance.
Recently, Track, a hospitality software solution, hosted a webinar called Guest Data Drive Results. Moderated by Shelley Warsaw, Partner Relationship manager at Track, speakers included John Ellis, VP of Sales at Akia, an AI-powered two-way communication platform; Billy Widner, Chief Marketing Officer, Brett/Robinson Vacation Rentals; and Jim Golightly, director of Customer Success, Track.
“Anybody can go on a mission to go out and collect as much data as they possibly can,” said Widner. “But until you figure out which datapoints you can use in your business plan and make good decisions about what you and your guests need to do in the future, that data may not be as valuable as it could be.”
What is Data Management?
Simply put, data management is a comprehensive approach involving the organization, storage, analysis and utilization of collected data enabling the user to obtain meaningful insights. In the context of the hotel industry, this means implementing effective strategies to classify the data generated, turning data into insights that can drive informed decision-making.
Metrics to Measure
Metrics to consider in data collection include booking data, which helps understand guest preferences, booking patterns and the effectiveness of marketing strategies, allowing hotels to tailor their offerings and allocate resources effectively.
During the webinar, Golightly, elaborated on setting appropriate goals for data collection. “Make sure you’re setting clear goals. Think about where data collection fits in and the right data to measure, which is what you’re going to use and can act on.”
Ellis added, “We can do an automatic ID verification by having guests upload their photos and can automatically verify that it’s the right person based on the reservation. By coupling that into the data collection, we can enrich their guest profile with the data from their ID. We can pull the birthdays automatically and can populate their physical address.”
Another facet for consideration is housekeeping data, which is crucial for guest satisfaction as data on room turnover times, maintenance requirements and cleaning schedules can streamline housekeeping processes. Not far behind is room-rate data, which is critical for revenue management as pricing strategies, demand fluctuations and competitor pricing allows hotels to optimize their pricing structures and maximizing revenue. Property data includes information about the property, such as amenities and facilities, helping to accurately present data to potential guests and enabling better decision-making.
Storage and Protection
Given the sensitivity of the data handled by hotels, the safety of the data collected is paramount. Hotels can ensure data security by utilizing secure and reliable hotel-management databases, running regular data backups and implementing encryptions to prevent
data breaches.
Various tools and software are available to analyze and process large volumes of data. These business-intelligence tools are useful for hoteliers as they provide actionable insights and help with data-driven decisions by unmasking patterns, correlations and trends.
The tools also find use in optimizing pricing strategies and maximizing revenue by analyzing room data, market trends and booking patterns. Additionally, the tools also contribute to operational efficiency by analyzing staff performance, occupancy rates, inventory management and maintenance and help hoteliers anticipate future trends and guest behaviors by leveraging predictive analytics.
AI has been making inroads as a tool to analyze patterns. “There are limitless opportunities with AI,” said Ellis. “Your average booking and your average length of stay are all things that can be aggregated well. You can certainly use AI in the guests’ experience.” Data can be leveraged to understand guest preferences which enables hotels to provide personalized experiences.
In this modern hospitality age, the implementation of data-management practices is no longer optional but has become a necessity for hotels to thrive. By effectively storing, safeguarding, analyzing and leveraging data, hoteliers can gain a competitive advantage and ensure guest satisfaction in the process.
