How Big Data is changing the Hospitality Industry.
No matter what industry you belong to, big data is gaining it’s foot hold everywhere. Data is being captured from cell phones, mobile apps, websites, social media etc.
Big data analytics is considered to be very fast and involves giving access to data at ease. Big data has volume and variety since it comes from different sources.
In the recent times, the hospitality industry is leveraging the benefits of Big Data.
Let us first see the benefits of Big Data in the hospitality industry:
• Having all the customer data in one place it is easier to make better decisions for marketing and customer service.
• Hotels can target repetitive customers with incentives and packages.
• Customers who don’t visit often can be given offers for promotional activities for increasing their business.
• Big data analytics would help hotels in setting the right price for their rooms. This brings in competition and value to the Hotel.
• With the help of Big Data the utilities used and daily operations can be controlled based on the weather conditions and seasonal visits.
Personalized Customer Experience: If a restaurant business knows what a regular customer wants based on his or her past eating patterns or social media updates, then it can provide menu choices based on customer. This information will come handy especially when the customers have diet specifications such as vegan or kosher. This will improve the marketing strategy for Hotel. The customer would give positive feedback and a word of mouth endorsement.
Brand Prediction: Predicting that consumers will drink more beer and eat more ice cream on a hot summer weekend does not sound like a Big Data insight. But the beer brand or the ice cream flavor prediction is Big Data Analytics. It is by all means a new and powerful tool for fine-tuning and maximizing the tactical brand decisions.
Match Made in Heaven: A passenger boards a transatlantic flight to attend a conference, expecting to plug in the earphones for ten hours straight. But to her surprise, the passengers on either side of her were also journalists heading to the same conference. Big Data has allowed the airline to engineer the seating arrangement; passengers remember the flight with much more fondness.
Hospitality Industry need rich, actionable insights that can be easily accessed and used to entice any guest to book a stay, enrich crucial moments of their guest experience, increase share of wallet on property, and convert them into a returning loyal customer again and again. Hence all of this can be achieved with Big Data.