Skip to main content

Home/ Hospitality Technology/ Group items tagged #ebuisness

Rss Feed Group items tagged

Filter: All | Bookmarks | Topics Simple Middle
sbarr011

Using data mining and analytics to your hotel's advantage - eHotelier - 3 views

ehotelier.com/...ytics-to-your-hotels-advantage

#datamining #ebuisness #hoteltechnology #guestexperience

shared by sbarr011 on 27 May 18 - No Cached
  • Hire a well-trained staff and a knowledgeable IT manager.
  • Refine the process.
  • . Demand timely output
  • ...15 more annotations...
  • . Select the appropriate tools for analysis and prediction
  • Collect data to support the models.
  • Build segmentation and predictive models.
  • Match your IT priorities with a skilled provider
  • Over the next decade, an evolution is predicted such that more attention is paid to data mining, both the onsite experience and customers social media profiles in order to integrate them into CRM activity and better target marketing communications, offers and rewards.
  • Data mining involves a continuous cycle of inputs and outputs based on models that must be modified and refined as conditions change in the competitive environment.
  • The hospitality industry is known as a highly customer-centered business and accumulates large amounts of customer data from central reservation systems (CRS), property management system (PMS), point-of-sale (POS), and guest loyalty program databases. Therefore, data mining application can play a huge role in the hospitality industry by assisting managers formulate marketing strategies, enhance guest experiences, increase retention and loyalty and ultimately, maximize profits.
  • Deviation detection
  • Clustering
  • Classification
  • Once data-mining is properly managed, the tasks performed can be grouped into five categories
  • Without data mining, valuable marketing insights about customers’ characteristics and purchase patterns may remain largely untapped. Success or failure often depends not only on how well you are able to collect data but also on how well you are able to convert this data set into knowledge that will help you better manage your business.
  • Forecasting
  • Association
  • Association
  • sbarr011 on 27 May 18
     
    This article discusses the use of data mining and analytic techniques to create a competitive edge for companies in the hotel industry. Hotel companies are a customer centered business which accumulate large amounts of data on customers from various databases. Implementing a data mining system will improve profits, loyalty and retention and enhance guest experiences by helping the marketing and management teams create focused policies. The article discusses seven guidelines that create appropriate use of data mining technology. These guidelines include synching your IT infrastructure with the right data experts. Also, creating accurate segmentation and predictive models of the customers information or profile. As well as gathering the correct data for use in the system's models. Also utilizing the proper methods to collect and sort relevant data. Another important guideline is to have a speedy turnaround of the data. Also, continuous improvement is important find better ways to implement the processes. The final guideline mentioned is to find the proper IT employees to manage the data. The article proceeds to discuss five categories to utilize the information. These are classification, clustering, deviation detection, association and forecasting. The article predicts that over the next ten years there will be more attention paid to data mining to improve the guest experience and focus marketing initiatives. Data mining will be a critical tool to understand and utilize customers behaviors and patterns.
1 - 1 of 1
Showing 20▼ items per page