The hospitality industry is a broad category of fields within the service industry that includes Hotels, Restaurants, Event planning, Resorts can leverage Big Data analytics in a variety of ways.
Customer Segmentation based on a variety of attributes including income, average spending, nationality & location, etc. customers can be clustered to different groups. Different segments of customers will have different interest and so the targeting.
Predictive pricing for Travel and Hospitality industry is one of very standard problem. When competitors drop prices or aggressively discount, determining how best to respond can be a challenging, complex decision. By conducting statistical analysis at a granular level, we can help clients to develop models to measure how demand responds to changes in competitive price position, and calculate the optimal rate to charge based on demand, price sensitivity and competition.
Big Data Analytics use cases in Hospitality
- Better business insight Hotels and restaurants gather a lot of intelligence about customers – what they order, what they watch on the hotel TV system, length of stay, entree preferences, and much more. Assimilating and analyzing this data can improve service and operations.
- Better forecast demand across the enterprise
- Property Management Metrics
- Systems Integration