New paths and business opportunities are opening up before hoteliers, you can understand your clients better if you opt to use Business Intelligence in your hotel. It involves making your guest’s stay memorable by getting everything right, down to the smallest detail.
Processing and classifying data, according to ERevMax, is a step that the whole industry will need to take sooner or later. It will be essential if they want to be able to respond efficiently to the demands of todays multi-connected travellers, who are also well informed thanks to the many different channels available to them: traditional media, social networks, email, word of mouth…. This is the reason that the way people plan their trips is changing too.
This is where Business Intelligence comes into play. It acts as a funnel for the immense amount of information a hotel may receive from its confirmed or potential clients. Why? Because we can see, or read between the lines and discern, their preferences in any interaction between the client and the hotel, right up to their arrival, this is a golden opportunity to put together a satisfactory experience according to that data.
2cfo, a specialist publication, claims that an adequate analysis of this massive amount of data could allow for an increase in benefits of between 10 and 20%. On the other hand, however, the same percentages could become losses.
In view of this it is good to remember some of the advantages of using Business Intelligence:
1) Improved efficiency. It saves time when making decisions because all the obtained data can be stored on one central system.
2) Shorter response time. You can find the answers to important questions in an instant, thanks to the options provided by business intelligence. For example, just one Business Intelligence report can contain sales figures, marketing performance, inventory, expenses, distribution channels, etc.
3) Analyse consumer behaviour. Not only can you study the consumer’s sales habits using business intelligence, you can also turn this information into a profit for the company, as well as use it to design more efficient loyalty programs. You can also put together forecast models that will help you to sell specific offers as well as other client focused strategies, all thanks to having the right information to hand (segmentation).
4) Improve your hotel’s management. All this data, when interpreted correctly, can help you be more thorough in your establishment’s daily running, from booking prices to laundry or kitchen inventory.
At Idiso and Innwise we are CRM specialists. We can help your hotel improve its client relations thanks to a platform that can be adapted to your needs and has been designed to make the most profit out of all the commercial areas of your hotel.