Data Usage Phases in Hospitality Industry
The importance of data is evident, but it’s essentially worthless unless it is properly stored, intelligently connected, and made accessible.
To illustrate the path to reveal the full potential of your data we have defined the 4 main stages of data usage and how the data becomes the asset of the company with more technology taken place.
Phase Zero – Basic Data Usage
Hotels in this phase are mostly using data to understand general statements of the business, without any insights or explanation as to why they are witnessing certain KPIs numbers and performance trends.
Phase One – Individual Connections
Hotels in this phase are usually conducting basic reporting through using their PMS system with other tools.
Phase Two – Data Lakes
Hotels in phase two who are aware of data lakes and have data scientists are then able to create customized analytics through the unstructured data.
Phase Three – Data Hub
A data hub is a standardized method of collecting the data wherein the data is harmonized when it enters the hub to be reused with standard definitions across multiple properties, data sources and more.
Data hubs go one step further by moving data and then indexing it into the new system.
Phase Four – Artificial Intelligence/Advanced Analytics
Rather than manually pulling reports and filtering them according to specific requests, AI takes the advances made by data lakes and data hubs and makes the more efficient for the users requesting the data.
PARTNER
SUSTAINABILITY PARTNER
