Pages 6 (1385 words)
The hospitality industry is embracing business intelligence (BI) and, by doing so, reaping many benefits. Using analytics and big data, hotels, bed and breakfast inns, and other hospitality facilities are able to better analyze booking patterns, performance of promotions and advertising, and measure consumer satisfaction.
Prior to the use of BI software in the hospitality industry, data was usually gathered via Excel or other similar programs. Statistics such as maximums and minimums for business for a certain day of the week, the sales for last year, and the average amount of cancellations would all be used to determine how well a business was doing.
Prone to errors and inaccurate data, the process has been markedly improved through the use of business intelligence. With BI providing a complete, accurate, and integrated data repository, the hospitality industry has vastly improved. Some of the benefits BI provides are:
- Easy Access to Data – information from multiple sources and locations is collected and incorporated into an easily understood format, thus giving everyone in the organization, including non-tech users, the ability to understand the data and determine factors that drive daily activities.
- Monitoring Inventory – If you are managing a hotel, you need to know things like how many spare towels are in stock? How many bottles of shampoo do we need to order? How many bars of soap were used last month? Business Intelligence is extremely beneficial when evaluating supplies, tracking spending, and developing strategies to reduce spending and impulse buying.
- Marketing Improvement – Using BI allows business owners and managers to help determine the success rates of direct mail campaigns, advertisements, and rewards programs.
They can then tailor their marketing efforts directly to specific guests in specific locations. Once this knowledge is obtained, it can be used in future promotions.
- Enhancing the Guest Experience – The most important people in the hospitality industry are unequivocally the guests. By integrating BI, hotels and other hospitality businesses are able to create detailed guest profiles, including itineraries, interests, and preferences of guests. The ability to anticipate the needs of guests allows for more personalized service which in turn will increase customer loyalty and aid in building long-term relationships.
- Decision-Making Improvement – Readily available and understandable analytical data allows managers to make well-informed and knowledgeable business decisions quickly and efficiently.
- Faster Response Times – BI gives owners and managers the ability to view reports daily instead of weekly or monthly, thus enabling a quicker response to even the most unpredictable situation. The capability to drill down information into operative data and customized reporting provide a clearer picture of exactly what is happening in the business. Armed with this information, owners and managers can immediately make adjustments that affect business performance, rather than having to wait.
- Identifying Problem Areas – Problems such as poor performance and fraud are much more easily identified using BI to uncover problem areas. Without BI, these areas may often go unchecked.
LEGAL AND ETHICAL CONSIDERATIONS
- Honesty Hospitality managers are honest and truthful. They do not mislead or deceive others with misrepresentations.
- ntegrit Hospitality managers demonstrate the courage of their convictions by doing what they know is right even when there is pressure to do otherwise.
- Trustworthines Hospitality managers are trustworthy and candid in supplying information and in correcting misapprehensions of facts.
- Loyalty Hospitality managers demonstrate loyalty to their companies in devotion to duty and loyalty to colleagues by friendship in adversity.
- Fairness Hospitality managers are fair and equitable in all dealings; they neither arbitrarily abuse power nor take undue advantage of another’s mistakes or difficulties.
- Concern and respect of others Hospitality managers are concerned, respectful, compassionate and kind.
- Commitment to excellence Hospitality managers pursue excellence in performing their duties and are willing to put more into their job than they can get out of it.
- Leadership Hospitality managers are conscious of the responsibility and opportunities of their position of leadership. They realize the best was to install ethical principles and ethical awareness in their organizations is by example.
- Reputation and morale Hospitality managers seek to protect and build the company’s reputation and the morale of employees by engaging in conduct that builds respect.
- Accountability Hospitality managers are personally accountable for the ethical quality of their decisions, as well as those of their subordinates.
The Hospitality law cases
- Civil action in keeper rights (Metin Kozak, 2016 )
- Criminal action guest rights
- Civil rights liquor liability
- Contracts dram shop acts
- Wage and hour issues
- Liquor law and liquor licensing
- Food and beverage laws and liability issues
- City and health department codes
- Family business wills and trusts planning
- Real estate leases and contracts
Is a robust-based hotel management system that offers next-gen capabilities needed by hotels to simplify reservations, improve operating efficiency and maximize revenue.
It automates online bookings, saves you time and offers essential operational functions.
BPA POS (Business Plus Accounting Hotel)
Provides both a better experience for your customers and gain greater control over your costs and profits.
It’s a sales and catering system that integrates lead management, group evaluation and pricing, block management and upsells and even online group sales into one platform.
hotel soft wares
Is a full-featured hotel property management software solution for hotels and resorts.
Easy to use hospitality management suite that offers hoteliers a centralized solution to help run their property efficiently.
A cloud-based hotel management software. Covers the organization of work, direct room and service sales.
Is a reservation and workflow management software for your hotel. Provides direct booking form on your website, displaying relation availability and syncs your calendar with channels such as Air bnb, Booking.com.
Is a new generation all round digital platform for hotel management? It comes with the widest range of guest-facing features and engagement tools, along with fully automated online distribution rate intelligence, hotel F&B solution. With self-check-in, auto-emails, digital room service, TA’ distribution, commission-free direct bookings, Milk, integrated into one complete system and accessible with a single login.
Business knowledge or business intelligence (BI) as, ‘an umbrella term that alludes to an assortment of programming applications used to investigate an organization’s crude information. BI as an order is comprised of a few related exercises, including information mining, online logical preparation, questioning, and revealing information.’ The motivation behind this article is to assess the present status of BI in the hotel industry.
Application programming interfaces (APIs) are as of now the most mainstream strategy for BI answers for procuring hospitality-related information, yet numerous arrangements likewise bolster remove change and burden (ETL), and level document imports (Excel and such), which are records with no inside chain of importance. While dynamic reports and dashboards are beginning to cause advances for answering, exceeding expectations remains the most pervasive arrangement utilized by hotel chains and other hospitality industries to dissect their information.
It should not shock anyone that hospitality business intelligence is quick turning into the most looked for after innovation in the hotel business. What’s more, why not! Expecting supernatural occurrences by simply gathering information isn’t the most intelligent approach to getting things done, today. Misusing all the accessible BI technologies to infer bits of knowledge that are generally pertinent to you, at the perfect time is the thing that will bring you results.
- Alaei, A. B. S. a. S. B., . (2017). , “Sentiment analysis in tourism: capitalizing on big data”,. s.l.:s.n.
- Anon., 2013. Robert M. O’halloran Ph.D.. Ethics in Hospitality and Tourism Education: The New Managers, 06 september .pp. 33-37.
- Anon., n.d. [Online]
- Available at: https://www.phocuswright.com/Travel-Research/Technology-Innovation/Business-Intelligence-in-Hospitality
- Duncan, K., n.d. The Transformative Power of BI in the Hotel Industry.
- Elbashir, M. Z. et al., 2013. Enhancing the Business Value of Business Intelligence: The Role of Shared Knowledge and Assimilation. Journal of Information Systems .
- Metin Kozak, . K., 2016 . Tourism and Hospitality Management. s.l.:s.n.
- Pimtong Tavitiyaman, A. Z. H. C. A. K. &. A. W. N., 2018. Effects of the hospitality industry’s code of ethics on organizational performance. 08 june .
- Student I.D: 189220839 Module code: CET344