Skip to main content

Home/ Hospitality Technology/ Group items tagged analyst

Rss Feed Group items tagged

Filter: All | Bookmarks | Topics Simple Middle
agrie013

Cloud Storage Security: How Secure is Your Data in The Cloud? - 0 views

phoenixnap.com/...cloud-storage-security

shared by agrie013 on 17 Jan 20 - No Cached
  • Hybrid Cloud: Many companies choose to keep high-volume files on the public cloud and sensitive data on a private cloud. This hybrid approach strikes a balance between affordability and customization.
  • Intrusion Detection: Online secure storage can serve many users at the same time. Successful cloud security systems rely on identifying when someone tries to break into the system. Multiple levels of detection ensure cloud vendors can even stop intruders who break past the network’s initial defenses.
  • Internal Firewalls: Not all accounts should have complete access to data stored in the cloud. Limiting secure cloud access through internal firewalls boosts security. This ensures that even a compromised account cannot gain full access.
  • ...5 more annotations...
  • Encryption: Encryption keeps data safe from unauthorized users. If an attacker steals an encrypted file, access is denied without finding a secret key. The data is worthless to anyone who does not have the key.
  • Authentication: Weak passwords are the most common enterprise security vulnerability. Many employees write their passwords down on paper. This defeats the purpose. Multi-factor authentication can solve this problem.
  • Breach Drills: Simulating data breaches can help employees identify and prevent phishing attacks. Users can also improve response times when real breaches occur. This establishes protocols for handling suspicious activity and gives feedback to users.Measurement: The results of data breach drills must inform future performance. Practice only makes perfect if analysts measure the results and find ways to improve upon them. Quantify the results of simulation drills and employee training to maximize the security of cloud storage.
  • Is the Cloud Secure and Private?Professional cloud storage comes with state-of-the-art security. Users must follow the vendor’s security guidelines. Negligent use can compromise even the best protection.
  • Redundancy makes cloud storage security platforms failure-proof. On-site data storage is far riskier. Large cloud vendors use economies of scale to guarantee user data is intact. These vendors measure hard drive failure and compensate for them through redundancy.Even without redundant files, only a small percentage of cloud vendor hard drives fail. These companies rely on storage for their entire income. These vendors take every precaution to ensure users’ data remains safe.
  • agrie013 on 17 Jan 20
     
    This article goes into how secure is data that is stored in the cloud. There are three different types of cloud storage. one is public, two is private and three is hybrid. The article states that most companies go with hybrid because of its versatility. cloud storage does have built in security that includes intrusion detection, internal firewalls and file encryption. the article does list that there is security risk that come with cloud storage. week passwords are one of the main concerns when it comes to cloud security. Cloud companies do what's called breach drills to see if there are any weakness in the security and if there are how do they handle the situation if the system is compromised. this article does list the pros and cons of cloud services but in the end, it shows that the writer for this article is biased towards the use of cloud services.
  • allisonweets on 20 Jan 20
     
    Breach drills sound like a great idea! It would be helpful in continually maximizing security efforts and determining weak points in the system, especially with technology advances and computer viruses becoming stronger.
marble_bird

Conditions Associated with Increased Risk of Fraud A Model for Publicly Traded Restaura... - 0 views

shared by marble_bird on 12 Jul 20 - No Cached
  • Many restaurant industry examples provide evidence that as a firm’s internal control structure weakens and deficiencies are found, the opportunity for fraud increases significantly.
  • The main premise of the study tests the application of the fraud triangle framework constructs to publicly traded restaurant companies during the time period of 2002–2014, using proxy variables defined through literature. The proxy variables selected were company size, amount of debt, employee turnover, organizational structure, the Recession, inflation rate, interest rate, executive stock compensation, return on assets, and international sales growth.
  • growing pressures from both passive and active investors to constantly increase their stock value in a competitive world where meeting performance goals are necessary to maintain a competitive edge
  • ...69 more annotations...
  • To meet targets, it is typical for companies to put additional stresses on their internal control structures by reducing head counts, requiring employees to perform more than one job, and rearranging risk profiles
  • The deceptive and corrupt business practicesofthesecompaniesandothersresulted largely from a failure of corporate governance and lack of ethical business practices, in which internal control mechanisms were circumvented by conflicts of interest that enriched executives and damaged shareholders
  • Deficiencies are often observed through review of the main business cycles: revenue and receivables, purchasing and payables, treasury and stock, and financial reporting
  • Internal controls are often the first avenue of protection in safeguarding assets and thwarting and discovering errors and fraud
  • Some research has been conducted in this area, and findings suggest that companies in the telecommunications, technology, financial, and services industries experience the most difficulty with SarbanesOxley compliance efforts because of increased risk of fraud from industry and company risk factors
  • Therefore, pressure resulting from expectations of financial performance, opportunity to circumvent internal controls, and rationalization coupled with certain inherent industry factors may contribute to increased risk of fraud
  • opportunity to engage in unethical behavior may stem from the macro environment, the operational features, and the specific nature of the business cycles
  • Because of this potential for fraud on the company, shareholders, and the public, examining the conditions that may prompt fraud is necessary for the efficiency of the restaurant industry, and namely, for those passive and active investors that are relying on the financial statements to be true and accurate
  • the restaurant industry is often susceptible to deficiencies because of its inherent characteristics and high control risk
  • Corporate scandals, misappropriation of assets and financial statement misstatement are all very real threats to the restaurant industry.
  • the central focus of this study is to understand the factors that contribute to increased risk of fraud to determine why fraud may occur despite the imposed regulation of the Sarbanes-Oxley Act.
  • numerous researchers have found indication that executive stock option compensation provides encouragements for behavior that is fraudulent or corrupt
  • the study seeks to identify the factors that may provide the optimal criteria to engage in fraudulent or opportunistic behavior, using the incidence of a reported control deficiency as the measurable dependent variable.
  • The fraud triangle is the model that explains the factors that may cause an individual or a company to commit occupational fraud.
  • The differing classifications and definitions of pressure provide evidence that the construct is not directly observable; therefore, researchers in this field have measured the construct of pressure through proxy variables
  • consists of three constructs: pressure/motivation, opportunity, and rationalization. The three constructs offer an explanation as to why management commits fraud, and the dynamic relationship that underlies the acts of occupational fraud.
  • pressure may best be classified into four general types that may lead to fraud: financial stability, external pressure, manager’s personal financial situations, and meeting financial targets (
  • when considering measurements of external pressures relating to debt financing, the financial leverage ratio is the most common measurement of the amount of debt.
  • Both pressures and opportunities are often determined by factors that occur at both the individual and company level (
  • ROA, or asset composition, is an appropriate proxy measurement for the pressure of meeting financial targets.
  • according to the fraud triangle, it can be said that opportunity does not exist unless a pressure exists.
  • nonshareable problems could also motivate groups of individuals, representative of a company’s culture, to commit fraud.
  • Opportunity is described as an atmosphere or temporary environment that enables fraud to be committed, usually with a small perceived probability of being caught or reprimanded
  • In a study of Swedish restaurant companies, it is noted that competition is very high, often resulting in price wars among different companies that reduce prices and then try to compensate through increased sales
  • Some risk factors include the susceptibility of the industry to market changes as well as the nature of the industry, coupled with the specific operations of the company such as whether there are significant or complex international operations; how effective management is at monitoring activities within the organization; and the level of complexity that exists in the organization
  • This environment is therefore dependent on the discretionary income of consumers, and this increased pressure may lead to earnings mismanagement through overstatement.
  • Public companies in the restaurant industry are susceptible to opportunities for fraud on the basis of the aforementioned opportunities
  • The ability to commit fraud in the restaurant industry results from inside knowledge of processes and procedures, and the ability to circumvent controls through weaknesses (
  • strong evidence has also linked the CEO position to fraud when the CEO is also the Chairman of the Board. In incidences like this, the CEO is the dominate decision maker for an organization that may provide an increased opportunity for fraud.
  • The underlying reason for these three categories of increased opportunities for fraud is the state of the internal controls structure, and management’s commitment to strong corporate governance
  • Rationalization is essentially an attitude, belief, or position of the mind or ethical personality that enables an employee or group of employees of a company to intentionally misappropriate assets and then defend their dishonest activities
  • Weak corporate governance structures are often presented through ineffective monitoring of management.
  • A quantifiable means of capturing this could be through review of executive stock compensation measures.
  • excessive use of discretionary accruals may lead to poor audit opinions, providing a rationalized thought for business activities.
  • the nature of the restaurant industry is often described as a periodic, seasonal, and cyclic trade
  • Defining parameters for financial reporting can also have an effect on reducing the rationalized behavior and the opportunity to commit fraud
  • Because these conditions have an obvious effect on earnings and measures of success, this seasonal variability and volatility should be considered when analyzing pressures in the restaurant industry
  • For restaurant companies, this means that rationalizations and attitudes can be managed by assessing the internal control environment and understanding the pressures and opportunities that exist for employees.
  • Some restaurant industry pressures that may impact profitable sales growth include a lack of understanding of the consumer’s perception, including the relevance of existing brands, and delays in opening new restaurants. Likewise, an inability to consider cost pressures, including increasing fees for supplies, utilities, and health care providers contracted by restaurants, as well as an incapability of obtaining economies of scale in procurement, could compress margins and negatively impact sales and operations profit margin.
  • The value in the application of the fraud triangle to the restaurant industry provides an opportunity to extend theoretical contributions that originated from mainstream accounting to hospitality literature, which is severely lacking in the current literature
  • Likewise, restaurant companies that are smaller (and therefore may not have strong internal controls) with increasingly complex transactions create additional opportunities for fraud to be committed
  • competitiveness is a condition that makes meeting financial targets difficult and provides opportunity for fraudulent behavior. External pressure from analysts and investors may create an incentive to misappropriate assets, which, in turn, distorts common financial measures of success such as return on assets.
  • when debt financing exists, in order to address past and future obligations, and remain competitive, restaurant companies are at an increased risk of fraud especially when disruptions in financial and credit markets exist.
  • Studies have revealed that restaurant company victory and demise is eventually correlated to restaurant leadership abilities and intentions; therefore, it can be stated that executives and managers’ intentions are of utmost concern in understanding risk of fraud
  • firms with increasingly complex operations coupled with changes in organizational structure have less resources to put into internal controls and are therefore at an increased risk for accounting errors.
  • .Internationalgrowthissubjecttorisks such as international political and economic conditions, foreign currency fluctuations, and divergent cultures and consumer inclinations
  • This study will focus on the variables most pertinent to the restaurant industry on the basis of the inherent characteristics of U.S. publicly traded restaurant companies, as previously described in this section.
  • a s a result of workforce diversity and the presence of many perceived low-skilled workers. In addition, as companies within the industry respond to declining performance, publicly traded restaurant companies may be subject to activist investors who wish to see a change in the executive management team. If a shake-up such as this would occur, the organizational structure of the company may become unstable, resulting in much greater opportunities for fraud to occur at all levels.
  • this study looks to assess the relation between the amount of debt a company has occurred and the incidence of reported internal control deficiencies.
  • Variables relating to rationalization are present in the restaurant industry when considering the motivations and attitudes of management. It is noted that in difficult times, such as the Recession, aggressive financial reporting tactics may be used
  • this study seeks to understand the effect of substantial stock compensation on increased fraud risk.
  • this study also hypothesizes that poor ROA could increase the risk of fraud, as the pressure provides executive management with the motivation to manipulate earnings.
  • this study suggests that the organizational structure of the company may provide opportunity for increased fraud risk through a unitary tone at the top.
  • this study analysed the disclosures of publicly traded restaurant companies to determine whether a company has a higher probability of increased fraud risk on the basis of the presented variables.
  • The results of the applied probit model reveal for the entire population set of publicly traded restaurant companies that the macroeconomic factors of the Recession, interest rate, inflation rate and unemployment rate all have a significant impact on the increased risk of fraud, as evidenced through a reported internal control deficiency.
  • As noted in the overall model, the results reveal that the model as a whole is a significant fit to the data. Although the company-level variables were not significant in the overall model, external factors were each significant.
  • Therefore, it can be said that the results of this study empirically support the intuition that changes in macroeconomic conditions may impact increased risk of fraud for companies in the restaurant industry.
  • It can be said that there is a significant relation between increased risk of fraud and the macroeconomic factors of interest, inflation, and unemployment rates.
  • from a managerial perspective, the study provides evidence that macroeconomic conditions that might affect consumer demand may increase the risk of fraud for publicly traded restaurant companies.
  • In addition to the high costs of compliance, it is also important to recognize additional managerial characteristics that may heighten the effects of the macroeconomic conditions on increased fraud risk.
  • As indicated by the results of the study, however, many times executive management does not recognize the problems associated with the macroeconomic conditions because of systematic perceptual filters that play the crucial role in the functioning of the company.
  • By focusing on the changing macroeconomic conditions that may have an empirical effect on demand, executive leadership will be able to streamline processes to avoid incidences of reporting internal control deficiencies when exposed to the macroeconomic conditions.
  • In the restaurant industry in particular, information is also not readily quantifiable, which makes it even more difficult to transform into meaningful and timely information for executive management. Particular examples include consumer insights and how well new promotions are received and moved throughout the market.
  • it should be noted that reported internal control deficiencies are indicative of increased fraud risk, but not necessarily conclusive that fraud has occurred. Therefore, just because a company has reported a deficiency, it does not indicate fraud, necessarily.
  • According to the model, the managerial factors are only exacerbated by the presence of macroeconomic factors.
  • the identified conditions could help managers to improve internal control when a high risk factor is realized. The contribution of this study may allow restaurant companies to deter activities that may result in increased risk of fraud.
  • Because the study revealed that the macroeconomic conditions were significant for the entire population of restaurant companies, an area of future research might explore the relevance of the co alignment model (Olsen &R o p e r , 1998) to strategic management decisions to reduce the risk of fraud.
  • for purposes of this study, privately traded companies are excluded. This is a limitation of the study because the results may indicate a problem that is more or less pervasive since the sample is representative of a small number of companies in the United States.
  • the model is limited in application because it does not take into account fluctuations among the variables over time.
  • marble_bird on 12 Jul 20
     
    This article covers the methodology and findings of a study conducted to examine the factors contributing to fraud risk in publicly traded restaurants. The article discusses factors in the fraud triangle, macroeconomic factors, and internal company factors that may contribute to fraud despite protections implemented per Sarbanes-Oxley. The study ultimately finds that internal company factors are insignificant when considering the impact on fraud risk, while macroeconomic factors, such as inflation or unemployment, drastically impact the level of fraud risk that a company may face.
jalipman

Gale Academic OneFile - Document - The anti-Venmo? Banks' p-to-p payment product eschew... - 0 views

go-gale-com.ezproxy.fiu.edu/ps/i.do?p=AONE&u=miam11506&id=GALE|A482019783&v=2.1&it=r&sid=ebsco

shared by jalipman on 12 Jul 20 - No Cached
  • Talie Baker, an analyst at Aite Group, said that she does not think users are demanding a social network for P-to-P payments. "Most users are interested in security and ubiquity," she said in an email, referring to the overall size and scope of the payment network.
  • But over time, Zelle's partner banks hope to support a wide range of business-to-business and business-to-consumer payments that seem more likely to generate revenue. Participating banks are also hoping that the P-to-P service will result in more satisfied retail customers, who are less likely to leave for another bank.
    • jalipman
      jalipman on 12 Jul 20
       
      During the COVID19 pandemic this is especially true. A restaurant that can use venmo can create and literally contactless pickup of food as well as retailers can do this as well.
  • "If you owe money, you definitely want to show people that you paid, that you're not a deadbeat," said Crone, the CEO of Crone Consulting LLC in San Carlos, Calif.
    • jalipman
      jalipman on 12 Jul 20
       
      Venmo does leverage social pressures to pay which also can limit its market when "charging people on venmo"
  • ...10 more annotations...
  • oreover, as Venmo moves into in-store payments, its use of social media may offer a way for PayPal to monetize the app's growing popularity, Crone said. After all, when a social media user endorses a particular retailer, that thumbs-up is valuable to the merchant. So the merchant may be willing to pony up for the positive buzz.
  • So as we're thinking about the use cases for Zelle, sharing the bar tab for last weekend certainly is one of those. But also other use cases that wouldn't lend themselves to some of the comical social interaction that you see," she added.
  • Zelle's architects considered, but ultimately decided against, mimicking Venmo's marriage of payments and social media, according to Alexander.
    • jalipman
      jalipman on 12 Jul 20
       
      Zelle has placed there focus on security rather than the social aspect in order to reach an older market. It seems as if in the long run Zelle will be able to retain its market better when the social aspect of money sharing becomes an issue. (which in my opinion is almost inevitable)
  • t's one reason why the person-to-person payment app Venmo -- which encourages users to share spending habits with friends -- is so popular with the 18-to-34-year-old crowd.
    • jalipman
      jalipman on 12 Jul 20
       
      Venmo came in ahead of the curve in the digital banking market. Mainly targeting a younger demographic it has taken off. But this ahead of the curve mentality has allowed banks to create their own digital banking apps engineered towards the older markets.
  • Transaction volume for Venmo, which is owned by PayPal Holdings, Inc., has grown by at least 130% in each of the last four quarters.
    • jalipman
      jalipman on 12 Jul 20
       
      Venmo being the mainstream digital payment app allows it to continue to dominate. Additionally social pressures to use the app drive the market even further.
  • ts prospects also hinge on whether the big banks have made the right assessment about the willingness of middle-aged folks to mix payments data with their social networks.
    • jalipman
      jalipman on 12 Jul 20
       
      A continual problem with technology advancements is security. In addition to this older people are less willing to use technology and mixing those two together can create an environment where older people are not willing to make the change even if it is more convenient.
  • The successor to a lackluster venture called clearXchange, Zelle is courting adults ages 18 to 54 who already rely heavily on their mobile phones. All told, 103 million U.S. consumers fall into that category. "We would say we're moving P-to-P from millennials to mainstream," said said Lou Anne Alexander, group president of payments at Early Warning Services, the bank-owned company that is developing the system
    • jalipman
      jalipman on 12 Jul 20
       
      Zelle targets a larger demographic allowing it to target possible whole families which eventually would lead to it being the mainstream app overtaking Venmo.
  • But in rebranding and reintroducing a P-to-P payments service, the nation's biggest banks are targeting a broader demographic and betting that people who came of age in the 1980s and 1990s want to be more private about how they spend their money.
  • At the same time, Alexander pointed out that younger adults who have been early adopters of the technology are likely to shape the habits of their parents and other older consumers. "So absolutely we are not ignoring the millennials and their influence," she said.
    • jalipman
      jalipman on 12 Jul 20
       
      This has been mimicked for many things in new technology like smart phones. As well as many social media websites. The younger generation influence drives the market.
  • t's one reason why the person-to-person payment app Venmo -- which encourages users to share spending habits with friends -- is so popular with the 18-to-34-year-old crowd.
sharlabrunsvold

At Disney Parks, a Bracelet Meant to Build Loyalty (and Sales) - The New York Times - 3 views

www.nytimes.com/...o-build-loyalty-and-sales.html

disney bracelet new york times

shared by sharlabrunsvold on 12 May 20 - No Cached
  • The initiative is part of a broader effort, estimated by analysts to cost between $800 million and $1 billion, to make visiting Disney parks less daunting and more amenable to modern consumer behavior. Disney is betting that happier guests will spend more money.
  • Disney is not the first vacation company to use wristbands equipped with radio frequency identification, or RFID, chips. Great Wolf Resorts, an operator of 11 water parks in North America, has been using them since 2006.
  • The logistical challenges involved in pulling this off are extensive. Disney has 60,000 employees here and many must be retrained to use new technology.
  • ...1 more annotation...
  • At Disney
  • sharlabrunsvold on 12 May 20
     
    Since most of us no longer give Magic Bands at Walt Disney World a second thought, I thought it would be interesting to look into the past to see how they were interrupted before they were launched. This article discusses the risks, challenges, costs, and competitors at the time. It dives into the discussion many Disney fans had about their privacy and well-being, and it directly aligns with our material this week. We can now see the pay off of this specific management information system, showing their importance in a business's success.
tjcamino

Physical Structure of Management Information System - 4 views

bizfluent.com/gement-information-system.html

management structure

shared by tjcamino on 09 Jan 20 - No Cached
  • combination of people, hardware, communication networks and data sources that collects, transforms and distributes information in an organization.
  • Hardware
  • Important components include the central processing unit, input/output devices, storage units and communication devices.
  • ...10 more annotations...
  • Software
  • Software can be divided into two generic types: system software and applications.
  • Applications are developed to accomplish a specific task.
  • Database
  • A database is a centrally controlled collection of organized data
  • Procedures
  • Three types of procedures
  • user instructions, instructions for input preparation and operating instructions for MIS
  • Personnel
  • The personnel in the MIS function include computer operators, programmers, systems analysts and managers.
  • tjcamino on 09 Jan 20
     
    When learning about the role of a MIS manager, I feel it's very important to learn the Physical Structure of the MIS. This article explains that the MIS is combined of hardware, software, database, procedures and personnel. When using MIS, it will help with decision making with accurate information then send to managers. These systems are vital to the day to day operation of a hotel.
  • Luis Valdivia on 12 Jan 20
     
    This is a great article that explains the basic physical structure of management information systems. Like other computer systems, the hardware and software components of MIS must work together for its use. While the hardware comprises of physical components such as the CPU and storage units, software provides a GUI. the article also discusses the personnel, procedures, and databases in MIS.
Angelica Saez

Global Distribution Systems in Present Times - Written By: Samipatra Das - HVS Internat... - 0 views

www.hospitalitynet.org/...4013406.html

shared by Angelica Saez on 12 Sep 19 - No Cached
  • There are currently four major GDS systems: Amadeus Galileo Sabre Worldspan
  • Amadeus
  • Amadeus is the youngest of the four GDS companies. Amadeus is a leading global distribution system and technology provider serving the marketing, sales, and distribution needs of the world's travel and tourism industries.
  • ...20 more annotations...
  • serve more than 57,000 travel
  • agency locations and more than 10,500 airline sales offices in some 200 markets worldwide
  • 58,000 hotels and 50 car rental companies serving some 24,000 locations,
  • The three founder airline shareholders currently hold 59.92% of the company: Air France (23.36%), Iberia (18.28%), and Lufthansa (18.28%).
  • Sabre
  • 11 major North American and European airlines: Aer Lingus, Air Canada, Alitalia, Austrian Airlines, British Airways, KLM Royal Dutch Airlines, Olympic Airlines, Swissair, TAP Air Portugal, United Airlines, and US Airways.
  • In October of 2001, Cendant Corporation acquired Galileo International for approximately $1.8 billion in common stock and cash. Currently, the company is represented in 116 countries, and serves travel agencies at approximately 45,000 locations. Other travel suppliers include 500 airlines, 227 hotel companies, 33 car rental companies, and 368 tour operators.
  • Galileo International
  • HVS Marketing Communications provides sales, marketing, public relations, and operational strategies for the hospitality industry in order to boost occupancies and provide more effective rate/yield management.
  • In 2001, Travelocity.com's 32 million members used the site, generating more than $300 million in revenues.
  • Worldspan
  • Samipatra Das joined HVS as a Consulting and Valuation Analyst in May of 2001.
  • connects more than 60,000 travel agency locations around the world, providing content from approximately 400 airlines, 55,000 hotel properties, 52 car rental companies, 9 cruise lines, 33 railroads, and 229 tour operators.
    • Angelica Saez
      Angelica Saez on 27 May 20
       
      GDS is a global distribution system is a computerized network system owned or operated by a company that enables transactions between travel industry services.
  • As the youngest of the four GDS companies, Amadeus has done remarkably well during its short tenure. Yet, in many ways, the company remains an anomaly. Amadeus has the greatest number of travel agency locations with the highest productivity per terminal in the world, yet its booking share is Number 3, and its revenues are dwarfed by Sabre and, to a lesser degree, by Galileo. While the company is Number 1 in locations worldwide, serving the greatest number of countries, it provides the fewest U.S. destinations of the top four GDSs.
  • HVS Technology Strategies is a division of HVS International, the world's largest hospitality specific consulting firm. The division was formed in mid-2000, following two years of hospitality technology market research. Our findings revealed a growing demand for unbiased, technology-focused consulting throughout the hospitality industry.
  • However, any discussion of the Internet as a distribution channel for travel needs to start with an
  • These systems have become electronic supermarkets linking buyers to sellers and allowing reservations to be made quickly and easily. Nowadays, more travel is sold over the Internet than any other consumer product. The Internet is a perfect medium for selling travel as it brings a vast network of suppliers and a widely dispersed customer pool together into a centralized market place.
  • sting electronic distribution infrastructure, the Global Distribution System (GDS). The airline industry created the first GDS in the 1960s as a way to keep track of flight schedules, availability, and prices.
  • understanding of the exi
  • angelicamm6 on 12 Sep 19
     
    Global distribution systems have grown immensely in the last couple of years. This article mentions the biggest and first companies to have created and used GDS. These were and are important companies with in the hospitality industry, they started using these systems to track themselves and created a monster that is now the best way for consumers to book and edit their reservations.
sharline86

This Week in Green Tech: How COVID-19 Will Affect the Renewable Energy Industries > ENG... - 0 views

www.engineering.com/...newable-Energy-Industries.aspx

shared by sharline86 on 25 May 20 - No Cached
  • Economic recessions tend to result in lower energy usage as travel and energy consumption decrease.
  • This will create cash flow problems for utilities, which will be exacerbated by the fact that many low-income customers will likely struggle to pay their utility bills for a while.
  • It’s likely that projects already underway will be completed, but concerns about the future may delay some utilities’ plans to increase their renewable energy portfolios.
  • ...6 more annotations...
  • ome of that funding will undoubtedly be invested in smart grid technology (essential to large-scale sustainable energy) and
  • microgrids, which frequently make use of renewable energy sources.
  • Economic uncertainty will likely lead many consumers to delay large capital expenditures, causing a temporary downturn in rooftop solar installations.
  • Residential sales and installations will continue, however, which leads to concerns about worker and customer health and safety.
  • Some analysts estimate that wind farms, which normally operate at 95 percent capacity, could drop to just 85 percent capacity due to travel issues related to COVID-19. And much like solar, new wind farms could be delayed because of factory shutdowns, travel restrictions, and investor concerns.
  • In general, we can expect the renewable energy industry to experience a slight setback during the next year or two, but it’s already gained enough momentum to keep moving forward, regardless of short-term slowdowns.
  • sharline86 on 25 May 20
     
    Engineering.com explores how renewable energy industries will operate post COVID-19. With focus on: Utilities, Solar, & Wind Power.
marble_bird

Modern information technologies in the hotel business: development trends and implement... - 0 views

shared by marble_bird on 08 Jun 20 - No Cached
  • Today, the process of digitalization of the Russian economy has a significant impact on hospitality industry.
  • Digitalization is becoming a major trend, which is evident in the distribution models of hotel services, and also actively comes to the sphere of automation of internal business processes
  • Digital innovations are gradually becoming the new standard of hotel service
  • ...34 more annotations...
  • digitalization of hotels also includes introduction of advanced solutions for analytics and security.
  • Digital security systems can not only track the slightest disturbance of the public peace, but also provide additional information.
  • At present day, it is too early to assess the effectiveness of some recent innovations, that are related mostly to the hotel's image and attract customers.
  • The main trends in the use of modern technologies in hospitality industry in the conditions of digitalization of the economy are presented in figure 1.
  • The main disadvantages of traditional technologies include the following: local server requires regular maintenance from the system administrator; access to database is restricted by local network facilities; connection speed is limited by the speed of a local provider and divided among all who are drawn to the sever database
  • Artificial intelligence plays an equally important role in improving the efficiency of public catering enterprises.
  • Use of artificial intelligence also allows to analyze the work of the restaurant, and to detect violations of rules by the staff via control of bills, number of the discount card uses, as well as the number of cancellations and deletions of checks.
  • The issue of privacy that characterizes traditional tourism industry is also addressed through blockchain technology, minimizing exposure to sensitive data in the face of existing problems with cyber attacks and fraud in traditional financial services.
  • if the concept of hospitality industry enterprise changes, it is possible to change the composition of paid licenses.
  • Almost all companies in hospitality industry have started to think about using chatbots to solve specific business problems [9].
  • One of the ways to get competitive advantages for accommodation facilities is to invest and use new technologies. In this regard, augmented reality is the most promising technology for the modern tourism industry. its development and application can increase the competitiveness of destinations.
  • Augmented reality can be used to interact with guests before, during, and after their stay.
  • Augmented reality technologies can be used to stimulate travel purchases (the effect of being present in a hotel room, as well as demonstrating the environment and local services using a virtual reality headset). Also, virtual and augmented reality, including those with tactile sensations, can be implemented by digital concierges to issue recommendations to the client on various issues and types of recreation
  • The API allows one hotel technology system to automatically (i.e., without the participation of hotel employees) interact with another technology system and gain access to its functionality.
  • The largest companies develop APIs for clients or internal use at some stage.
  • The main point of switching to outsourcing is to optimize the company's costs while significantly improving the quality of services provided. The main criteria for outsourcing are the lack of competitive advantages and not the strategic position of this operation or function for the company
  • With the help of speech Analytics tools, specialists can work with 100% of requests. To do this, all dialogues are translated into text and analyzed using a special system.
  • Based on this analysis, you can develop a change program for existing procedures and processes and optimize self-service systems (personal account, website).
  • The result of the introduction of innovative speech analytics technologies will be an increase in sales efficiency, an increase in loyalty and customer satisfaction, a reduction in service costs without loss of quality, and behavioral analytics.
  • Currently, biometrics can already be used to identify and confirm the client's identity. Face scanning technologies when registering with the service.
  • Analysts predict that the international market for biometric solutions for the hotel sector will grow exponentially in the coming years. Biometrics, as the most reliable and accurate authentication system, can provide real-time information about employees and their use of their working time.
  • The result of using this technology is payment without wallets and Bank cards, increasing the speed of customer service, and a high level of security.
  • In 2018, Amazon presented a special version of the voice assistant for hotels — Alexa for Hospitality, which is currently being tested in Marriott hotels.
  • At the same time, the use of Echo speakers in hotels raises concerns about the privacy of personal data. Amazon claims that audio recordings of the guest's voice commands will be deleted every day, and the hotel administration will not have access to both request records and response records.
  • IT outsourcing is the transfer to a third-party contractor (outsourcer) of all or part of the functions for servicing the organization's information needs. Currently, this technology is becoming increasingly common in the hospitality industry.
  • The result of the analysis of cash transactions is a regular analysis and detailing of violations, categorization of violations, development of measures to counter violations, training of personnel [13].
  • The main problems of implementing information technologies in the hospitality and tourism industry include the high cost of these developments, the duration of staff training processes, and the adaptation of the built system of business processes of enterprises.
  • The problem is also the difficulty of attracting investment in the hotel business
  • Another problem with the introduction of information technology in the hotel business is the lack of relevance of regulatory documents and legal barriers to the introduction of innovations
  • In addition, the introduction of modern information technologies in the hospitality industry is complicated by the level of technical and technological complexity of implementation projects.
  • nformation technologies are improving at a rapid pace
  • In the leading Russian hotels that are part of the global hotel chains, the work is fully automated, technological, and has its own computer and Internet services. Such hotels already have a successful experience in implementing modern information technologies.
  • Customers of the hospitality industry already have a lot of experience in using mobile devices.
  • Digital marketing is becoming a key channel of communication between the hotel and the network. At the same time, only the implementation of continuous data collection, processing, analysis and aggregation tasks will allow the management of hospitality enterprises to achieve one of their main goals - to better understand their customers and interact with them.
  • marble_bird on 08 Jun 20
     
    This article describes trends in technology in the hotel industry and the applications of them in the Russian economy. The article discusses what the trends in IT are and how they may apply to the hotel sector of the hospitality industry, providing real-world examples and hypothetical scenarios. The information in this article is insightful to the relationship between hospitality and information technology and provides a perspective on this relationship from the viewpoint of the Russian hotel economy specifically.
kelseybarton

Protecting the Hospitality Sector With Security Intelligence - 1 views

www.recordedfuture.com/urity-intelligence-hospitality

hospitality security intelligence technology software

shared by kelseybarton on 29 Sep 20 - No Cached
  • A decade ago in 2009, hospitality was — by some reports — the most widely attacked industry of all. And while other industries have now surpassed it, a 2019 report by Trustwave still ranks hospitality as the third most-breached industry, accounting for 10% of all breaches.
  • the average hospitality data breach costs $1.99 million to contain, at a cost per record of $123. These high costs are due in part to the time needed to adequately respond to a breach. On average, it takes 200 days to identify a hospitality data breach and a further 75 days to contain it
  • attacks targeting the hospitality industry are mostly aimed at stealing payment card data.
  • ...10 more annotations...
  • Why Is Hospitality So Hard to Secure?
  • 1. They often have large, complex networks.
  • 2. Customers are onsite — and attackers could be too.
  • 3. Staff churn.
  • 4. Franchising.
  • 5. Third-party risk.
  • Protecting the hospitality industry from cyber threats isn’t an easy job. Security professionals in the industry are tasked with defending highly complex networks with many endpoints against a constant barrage of attacks and a constantly churning workforce. On top of all of that, they have limited security resources to work with.
  • Comprehensive security intelligence helps security teams identify unknown threats to the organization, and make informed decisions about how and where to allocate time and resources for maximum effect.
  • Threat intelligence provides the context analysts need to quickly distinguish between valuable alerts and false positives, drastically improving their ability to respond to genuine cyber threats.
  • Threat intelligence can help security teams drastically reduce the time needed to identify and contain a breach by alerting them the moment stolen assets (e.g., guest or passenger data) are made available for sale via the dark web.
  • kelseybarton on 29 Sep 20
     
    (1 of 2) "The hospitality sector has always been a popular target for cyberattacks." This is the first line of this Recorded Future article published in January. The article discusses breaches that happened for both Marriott and British Airways and how this is a regular occurrence in the industry as it is such a big target with so many possible points that can be attacked. While the statistics for the hospitality industry have improved greatly in the last decade, in 2019, they were still accounting for 10% of all breaches. Not only does a breach affect the way an organization operates, but also it also severely effects their bottom-line and takes quite a but of time for them to recover. "According to Ponemon's 2019 Cost of a Data Breach Report, the average hospitality data breach costs $1.99 million to contain, at a cost per record of $123. These high costs are due in part to the time needed to adequately respond to a breach. On average, it takes 200 days to identify a hospitality data breach and a further 75 days to contain it." The article continues by stating that hackers are typically seeking payment card data when compromising the hospitality industry.
  • kelseybarton on 29 Sep 20
     
    (2 of 2) The article then discusses the many reasons why it is so difficult for hospitality-oriented companies to secure their assets versus other organizations of similar stature. Some of these reasons include the large, complex networks which are typically publicly accessible and contain many customers in the databases, the fact that customers are always onsite and so are attackers, the high turnover leading to inconsistent training and sharing of credentials, franchisers owning the responsibility of security yet not knowing much about it, and the risk associated with all of the various third parties the hotels do business with. While intelligence has come a very long, "security professionals in the industry are tasked with defending highly complex networks with many endpoints against a constant barrage of attacks and a constantly churning workforce… [AND] they have limited security resources to work with." Comprehensive security intelligence systems are now capable of protecting many aspects of the organization. Some of these updated features include responding rapidly to security incidents, blocking online brand abuse and impersonation, managing third-party risk, reducing breach containment times, and better allocating security resources. Property data security is so important to the hospitality industry. If a business does not take the proper precautions to protect their systems and their customers, then it could lead to a devastating event for the business. While security intelligence has progressed within the last decade, a business needs to make sure that they have chosen a reliable agent to partner with who will produce consistent service. If the business keeps up with their system updates and protections, they should not have to worry about their security system failing.
kmill139

What is SaaS (Software as a Service)? Everything You Need to Know - 0 views

searchcloudcomputing.techtarget.com/...Software-as-a-Service

SAAS

shared by kmill139 on 04 Sep 21 - No Cached
  • Software as a service (SaaS) is a software distribution model in which a cloud provider hosts applications and makes them available to end users over the internet. In this model, an independent software vendor (ISV) may contract a third-party cloud provider to host the application.
  • Products range from personal entertainment, such as Netflix, to advanced IT tools.
    • kmill139
      kmill139 on 04 Sep 21
       
      Applications such as Netflix, Spotify, or Apple Music are all examples of cloud computing methods that we have available to us in the 21st century. Many of us use these applications or services without knowing how they truly work.
  • The application will be accessible to any device with a network connection. SaaS applications are typically accessed via web browsers.
  • ...12 more annotations...
  • A software provider will either host the application and related data using its own servers, databases, networking and computing resources, or it may be an ISV that contracts a cloud provider to host the application in the provider's data center.
  • As a result, companies using SaaS applications are not tasked with the setup and maintenance of the software. Users simply pay a subscription fee to gain access to the software, which is a ready-made solution.
    • kmill139
      kmill139 on 04 Sep 21
       
      Many companies will benefit from this as they do not have to worry about the hardware necessary to run the servers and applications.
  • SaaS removes the need for organizations to install and run applications on their own computers or in their own data centers. This eliminates the expense of hardware acquisition, provisioning and maintenance, as well as software licensing, installation and support. Other benefits of the SaaS model include:
    • kmill139
      kmill139 on 04 Sep 21
       
      All the examples down below make the SAAS system desirable for a company.
  • Depending on the service-level agreement (SLA), the customer's data for each model may be stored locally, in the cloud or both locally and in the cloud.
  • SaaS applications and services typically use a multi-tenant approach, which means a single instance of the SaaS application will be running on the host servers, and that single instance will serve each subscribing customer or cloud tenant.
  • The typical multi-tenant architecture of SaaS applications means the cloud service provider can manage maintenance, updates and bug fixes faster, easier and more efficiently. Rather than having to implement changes in multiple instances, engineers can make necessary changes for all customers by maintaining the one, shared instance.
    • kmill139
      kmill139 on 04 Sep 21
       
      This is great to prevent any inconveniences to the customer.
  • According to a recent McKinsey & Company report, technology industry analysts predict further growth in the software as a service market, and expect to see the market for SaaS products near $200 billion by 2024. 
    • kmill139
      kmill139 on 04 Sep 21
       
      I see this happening most definitely when looking at the way we are moving forward as a population. We use technology on a day-to-day basis. Just look at your personal life and see how often you use and are around technology.
  • SaaS also poses some potential risks and challenges, as businesses must rely on outside vendors to provide the software, keep that software up and running, track and report accurate billing and facilitate a secure environment for the business's data.
    • kmill139
      kmill139 on 04 Sep 21
       
      The disadvantages down below might lead a company to stay with traditional hardware methods.
  • As a result, security is more the responsibility of the independent software vendor and third-party cloud provider.
  • SaaS is one of the three major cloud service models, along with IaaS and PaaS. All three models involve cloud providers that deliver their own hosted data center resources to customers over the internet.
    • kmill139
      kmill139 on 04 Sep 21
       
      We're focusing on SAAS but it's good to know the difference between the three.
  • Salesforce Google Workspace apps Microsoft 36
    • kmill139
      kmill139 on 04 Sep 21
       
      All of these are very common in today's world and I see many on this list that I use in my personal life.
  • HubSpot Trello Netflix Zoom Zendesk DocuSign Slack Adobe Creative Cloud Shopify Mailchimp
  • kmill139 on 04 Sep 21
     
    A great in-depth article about the service SAAS. This article talks about how it works, and how the host provide their services to their clients. In the article it also talks about the three types of cloud based services.
mmdmd99999

Cloud Computing for the Food Industry and Restaurants Benefits - 0 views

www.nutanix.com/...ustry-and-restaurants-benefits

shared by mmdmd99999 on 22 Jun 22 - No Cached
  • Restaurant operators don't go into this business to be technologists
  • technology has proven so fruitful for restaurants during the pandemic that analysts are now urging the restaurant industry to permanently embrace solutions like cloud computing, artificial intelligence and machine learning to diversify their revenue streams, collectively bargain, and provide a safe experience for guests and employees alike.
  • In the last five years, restaurant delivery has grown 20 percent
  • ...6 more annotations...
  • With its pervasive stay-at-home orders, mandated dining room closures and persistent labor shortages, COVID-19 has only accelerated this trend.
  • DoorDash, Grubhub and UberEats dominate the market
  • “At the start of the pandemic, there was a rush for every restaurant to do their own ordering app, which is like everybody trying to do their own internet,” Quinn said. “Restaurants quickly realized that their efforts were better spent elsewhere, and many opted into the larger ecosystems that third-party delivery services provide.”
  • Shortly after its launch in 2013, DoorDash decided to migrate its IT infrastructure to a cloud-native solution, which allows it to quickly scale as it continues to grow. It also gives the company access to various cloud-based applications that help it collect, track and analyze data about its customers’ ordering habits — a trend that’s sweeping the restaurant industry and informing creative strategies for combatting losses due to COVID-19, according to Quin
  • Ghost kitchens — sometimes called virtual or dark kitchens — allow restaurateurs to cut costs by foregoing real estate, labor and dining room expenses in favor of small, focused operations that prepare food in shared commercial kitchens exclusively for delivery. Companies like UberEats use delivery data to help restaurants determine where market opportunities exist.
  • n recent years, digital ordering kiosks and tablets also have become popular, and full robotic kitchens might not be far behind. This fall, for example, White Castle will deploy Flippy, its first robotic fry cook. Halal Guys and Applebees, meanwhile, are in the early stages of testing DrinkBot, a robot that mixes pre-set beverages in just 20 seconds. Even autonomous delivery robots have hit the streets in big cities and college towns across America
  • mmdmd99999 on 22 Jun 22
     
    Robotic fry cook, digital ordering kiosks, ghost kitchen, cloud based apps, restaurant delivery
artandmer

Hospitality unions have spent a decade fighting to protect workers, bu - 1 views

www.fastcompany.com/...meant-to-protect-hotel-workers

hospitality workers cloud-based systems employee safety wireless networks Software solution legislation

shared by artandmer on 25 May 22 - No Cached
  • cheap gadgets might bring new problems
  • The hospitality industry is in the process of introducing remote panic buttons in an effort to address the widespread issue of violence and sexual assault against hotel staff
  • 20,000 hotel properties in Canada and the United States have committed to providing an estimated 1.2 million employees with Employee Safety Devices
  • ...15 more annotations...
  • all housekeeping staff to carry a panic button device on them at all times
  • low-quality versions of the technology that pose significant privacy and security risks to the people who carry them. Weak password protections and a lack of encryption leave users vulnerable to cyberattacks, which could render the devices unusable—or, worse, be used to invade hotel employees’ privacy
  • 58% of hotel workers and 77% of casino workers have been sexually harassed by a guest. Nearly half have had guests answer the door naked or expose themselves, and nearly 15% have been cornered.
  • casino giants MGM Resorts International and Caesars Entertainment agreed to equip nearly 38,000 hotel staff with safety devices during contract negotiations
  • the CEOs of a number of major hotel chains—including Hilton, Hyatt, IHG, Marriott, and Wyndham—joined the pledge
  • Safe but insecureThe discovery of vulnerabilities in certain versions of this technology may pose a potential challenge
  • lack of encryption that compromised the device’s security
  • the software powering the tracker was hosted on a cloud-based service, which it used to communicate with a mobile application. But the cloud software didn’t require any authorization. A hacker could connect to the service and “instruct any tracker in the world to do things,” he explains.
  • Among the vulnerabilities a hacker could exploit are the ability to see the real-time location of users and to gain access to built-in microphones and cameras
  • That poses a problem for the hotel industry, Hron believes, because establishments not  bound by union or legislative requirements may buy inferior devices without vetting them properly, merely to satisfy new regulations. “Each hotel is buying these devices themselves—it’s not like some central authority is giving these devices to hotels,” he says. “My guess is [some are] going to buy a cheap device, and in this case, it’s pretty reasonable to think that there aren’t any analysts doing security checks on them.”
  • The lack of clear legislation also leaves workers vulnerable in jurisdictions that don’t explicitly ban employers using the devices to track the movements of hotel staff
  • technology isn’t capable of real-time tracking because it runs on WiFi and Bluetooth Low Energy, or BLE, and only transmits a signal when activated. Other devices that utilize GPS or WiFi connectivity, however, have the ability to transmit real-time location data on an ongoing basis
  • “The technology has to work every time, but the product only works if the right policies, procedures, and personnel are put in place that allow the system to function as a system
  • While the initial reason for the solution was to address sexual assault, there are other things that happen to housekeepers in hotel rooms as well,” says Ogle. “We’ve had team members that have had medical issues themselves, or found guests in rooms with medical conditions that were asking for assistance
  • Providing precise location data to first responders in the event of an emergency actually has the potential to save lives, but the technology will only be adopted if users believe it is being used appropriately
  • artandmer on 25 May 22
     
    The major hotel chains are influencing legislation and also now requiring employee safety devices (ESDs) to make the workplace safer for employees (i.e. room service attendants or housekeepers) who find themselves alone in guest rooms with ill-intentioned guests. ESDs can also be appropriate for large resorts with beach personnel, activities personnel, or other positions that find themselves in enclosed, or remote areas with less security. Not every hotel has a security department that can constantly monitor cameras and ESDs. Will these devices present more strain on hotel wireless networks? That depends. Hoteliers need to consider whether these devices will be provided by or monitored through their keylock vendor, through their guest room entertainment vendor, or through a wireless provider. Could there be a benefit to an ESD interface with the PMS? I'm not finding an obvious answer. Hotels, varying in room count, are providing ESDs that range from whistles to wireless to BLE or RFID enabled. Hotel owners and management companies have the responsibility to research the most appropriate solution for their hotel without undermining the safety and privacy of their employees and their hotel networks.
mattiebell

Proximity Marketing Market 2023 Industry Breakdown for Major Key Manufacturers, Growth ... - 0 views

www.digitaljournal.com/...osoft-apple-zebra-technologies

shared by mattiebell on 13 Feb 23 - No Cached
  • Global Proximity Marketing Market Research Report provides a key analysis of the market status of Proximity Marketing with the best facts and figures, meaning, definition, SWOT analysis, expert opinions, and the latest developments across the globe.
  • Google Microsoft Apple
  • Wi-Fi BLE Beacon Near Field Communication (NFC) GPS Geofencing
  • ...1 more annotation...
  • ➤ Unbiased conclusions and market insights. ➤ 24×7 customer service available to address client queries. ➤ Highly efficient and experienced team of analysts striving to create top-quality reports. ➤ Our reports have facilitated the growth of over 500 companies. ➤ The systematic and methodical market research process.
  • mattiebell on 13 Feb 23
     
    This article talks about research surrounding analysis of global proximity marketing. The article categorizes several things such as sales, revenue, cost structure, and more. It includes data on some of the most well known companies in the world, including Google, Microsoft, Apple, and more. This research is important because it provides a business overview of the sustainability of proximity marketing and discusses its implications for the marketing and sales industries, which hospitality falls under.
« First ‹ Previous 41 - 53 of 53
Showing 20▼ items per page