Big Data Serves Up Opportunities to the Hospitality Sector - 0 views
-
Gaby Belardo on 08 Oct 12This is an article I found which compares POS systems use in the hospitality fields versus use in the retail sector. The writer of the article, Paul Broome, feels that the hospitality industry is not fully utilizing the sets of data that could help their business grow. He explains, "The amount of data in the world is doubling every two years..." For the retail fields, this data shows product patterns of customers, but for hospitality, this data "hold insights about customer behaviour that could transform their business and allow them to stay one step ahead of their competition." Broome provides multiple ways in which hospitality organizations can better utilize the mass sets of data available. One of these is for the organizations to use evidence and strategy rather than instinct in analyzing data. Another important strategy, according to Broome, would be to use the sets of data for future marketing purposes. "For organisations in the hospitality sector, these vast sets of data hold insights about customer behaviour that could transform their business and allow them to stay one step ahead of their competition. Times are tough - but there are huge opportunities for those that get it right."