Analytics

Revenue management

In today’s technology-driven environment, staying ahead of competitors requires the use of technology. With increasing competition in the hotel industry, staying competitive and continuing to increase profits requires advanced data analytics which will help create extra value. Harnessing the power of data analytics to analyze instantly vast amounts of data will create improvements in guest experience, optimized pricing options, and enhanced operational efficiencies brings the hotel to the next level. Adding powerful analytics will make an everlasting impact on your business, will help a hotelier save time and money and, at the same time, improve performance and productivity. For example,  Revenue managers combine external data like market demand and competitor activity with internal data like historical performance and customer preferences to guide pricing decisions, inventory controls, promotions, and demand forecasting. Using advanced data analytics, hoteliers can see associations between different events and bundle them together in special guest offers as well as for upselling certain items.

Customer Segmentation and Profiling

Analysing and building customer profiles is crucial for a hotel to determine which market segments are the most profitable for them. It can also determine which set of guests are likely to respond to promotional offers and marketing as well as separate out different demographics of guests for targeted marketing.

Hotel analytics is used to identify unique cluster groups of guests and conduct different value segmentation for each group. The system can also examine the current customer base within each cluster group and further establish unique groups. With the help of data analytics, these groups can be further segmented into smaller clusters based on affinity and behavioural factors. This, in turn, helps hoteliers to offer customized services to those repeat guests.

Demand Prediction

Through data analytics, hoteliers can predict customer behaviour patterns and forecast demand more accurately in the future. Being able to see reservation patters, and combining them with demographics, market and customer segmentation data, travel agent historical trends, the hotelier is able to predict reservations, monitor performance and take correcting actions ahead of time.  These insights about their own hotel and competitors can help develop effective pricing models. 

Marketing

Hotel marketing is another data-heavy department because it involves multiple channels, including the hotel website and search engine marketing, email marketing, and social media. Each channel generates valuable data for measuring return on investment (ROI) and deciding where to allocate resources to generate the best results. For example, Marketing Managers can evaluate reservations generated through different channels, customer profiles, travel agents, countries of origin, room rates and ANR and visualize trends in order to decide where to allocate resources for advertising campaigns and measure their effectiveness.

Food & beverage

Hotel restaurants, bars, and room services tend to run on tight margins, so it’s important to keep a tight rein on expenditures. If costs climb without commensurate increases in revenue, it can weigh heavily on the hotel’s balance sheet. Managers can analyze revenue data to find ways to increase guest spend through menu engineering, upselling, and promotions. It’s also important to analyse spending behaviour to target guests with a high propensity to purchase F&B on property. Examples include average check, average table occupancy, labour costs of sales, food and beverage costs of sales, and revenue per available seat hour.

Customer Association

Using advanced data analytics, hoteliers can see associations between different events and bundle them together in special guest offers as well as for upselling certain items. For instance, a guest buying the house specialty in a restaurant is also likely to buy a glass of a limited wine along with the top-selling dessert. These paired relationships can help bundle menu items into one meal so that it is easier for the guest to order, and at the same time, ensure customer satisfaction. Menu design can also be changed to display combinations together for guests to order. These data associations are a great way to upsell customers and bundle offers together for guest convenience.

Enhanced Decision Making

Looking for the right type of guests for the hotel is always a major challenge. If this decision is taken properly, it can help in multiple ways. With the help of business analytics, hoteliers can gather information from different sources to understand the demographic of the property’s guests and market to that specific demographic. For instance, if the hotel notices that double occupancy reduces before a particular time period, hoteliers can address this specific demographic and include certain packages that help improve double bookings.

This kind of data analytics also determines the kind of services guests want or need. It is a necessary tool to take decisions on enhancing customers’ offerings and services. Using data analytics as their main strategy, hoteliers can streamline procedures, look at emerging risks, identify guest trends, and build on mechanisms to get feedback. This means that hotel analytics gives hoteliers a competitive advantage when building a brand image.

Building a data analytics platform is a complex, time consuming and resource intensive exercise and requires continuous maintenance and improvement to adhere to the ever changing business requirements and market changes.

Data Analytics as a Service (DAaaS) represents a new approach to an extensible platform that can provide cloud-based analytical capabilities over a variety of industries and use cases and delivering value in an agile manner.

Our aim is to shield Hoteliers from this complexities by providing data analytics and business intelligence in a software as a service, turnkey manner with actually intelligence delivered in weeks rather than years and make it accessible to all with the minimum possible cost.