Skip to main content

Want to win in future competitions? Invest in data-driven decisions now

Image
By

Speaking of the permanent changes in the hospitality industry, many people will probably agree that demands for “bleisure”/“work-from-anywhere” travel and contactless self-service will continue to grow in the near future. Not everyone, however, realizes that data-driven decisions will become a key driver for growth in the industry, which has already affected how we do business now. 


Automatic service enables businesses to capture more operational and consumer data for business decisions

 

One advantage of using automatic service comes from its ability to spontaneously capture and store real-time operational and consumer data for additional analysis. In the old-time when businesses still relied on workers to serve customers, operational data were collected usually through careful book-keeping, documentations, and observations; consumer data through market research were often limited to their perceptions, behavioral intentions, or past experience. 

 

Now that automatic service is provided through app-based or computer-based programs, machines can automatically record all real-time transactions data for operational analysis as well as consumers’ actual behaviors in the cyber marketplace. Furthermore, technology has made it easier to collect longitudinal data for trend analysis. 

 

The ability to turn data into business intelligence becomes the driver for growth 

 

Furthermore, such operational, consumer, and even HR data can be intertwined for more in-depth analysis. For example, integrated analysis with both operational and consumer data can likely reveal the bottleneck issues during the service process and see how such issues may further affect consumers’ purchasing behaviors. Then, businesses can adjust their targeted promotional efforts to address the bottleneck issues (e.g., not to promote or to remove the menu items that take a long time to make).

 

I expect that the competition among foodservice operators will come very soon from their ability to capture and harvest the operational and consumer data in the cyber marketplace. Those who can quickly turn the mass data into meaningful business intelligence for daily decision-making will win the competition.


Note: This article was first published in Hospitality News (magazine) in November 2021; The picture was downloaded from MarketingEpic.com. 

Labels:

Comments

  1. Zara MalikJuly 23, 2023 at 10:16 AM

    Give me tips to write such post, I also want to write such posts but I do not know how to write.


    Advantege And Disagvanteg
    Repair The Car
    Improve Your Life

    ReplyDelete

Post a Comment

Popular posts from this blog

Is It OK for Hotel Staff to Wear Piercings and Tattoos?

By
Time has changed. I see more and more college students wearing piercings and tattoos nowadays, but is it OK for hotel staff to wear piercings and tattoos? The answer is “no, no, no.” According a report at USAToday.com, customers across the board do not want to see any hotel workers with pierced eyebrow, pierced tongue, tattooed arm, or nose ring. Some may argue that tattooed and pierced workers may seem more acceptable in edgy boutique hotels as compared to the big franchised hotels, but the survey results did not find any differences among a variety of lodging products. Many respondents believe people who wear visible tattoos and piercings are taking a high risk of their professional lives. If you stay in a hotel, do you mind being served by tattooed and/or pierced staff? What if you are the one who makes the hiring decision? References: USAToday.com: http://tinyurl.com/linchikwok08042010 Picture was downloaded from http://tinyurl.com/linchikwok08042010P
28 comments
Read more

Where Coffee Meets Culture: My Experience with Orientation, Socialization, and Culture at Dutch Bros (by Karina Martinez)

By
When people think of Dutch Bros, they usually picture colorful drinks, loud music, free stickers, and baristas so friendly they’ll jump in the car with you.  As someone who has had the opportunity to work for Dutch Bros, I can say that the energy customers feel isn’t an act; it is the result of intentional and effective HR practices that are focused on orientation, socialization, and culture. From your very first day, you experience how these practices shape the entire Dutch experience.  Orientation, Socialization, Culture   In HR management, orientation is the introduction of the role and company to new hires. This is intended to help them feel welcomed and informed. Socialization goes beyond the initial training process; it’s how new hires grasp the organization’s values, behaviors, and traditions over time. Together, these fun...
5 comments
Read more

Average/Below-Average Looking People Can Earn as Much as the Attractive Ones

By
Research has shown that attractive people can not only charm interviewers (and thus get hired easier), they are also more likely to earn more as compared to those with average or below-average looks. Accordingly to a Wall Street Journal report , attractive people can earn 3% - 4% more than a person with below-average look. If such difference adds up over a person’s lifetime, an attractive person can earn up to $230,000 more than an ugly worker; even an average-looking person can make $140,000 more. Another relevant Wall Street Journal report also suggests that workers who exercise regularly can earn 9% more than those who do not. If that is the fact (I believe it is), is it legal? Can employers do that? Linchi Kwok and Otto @SyracuseU Career Fair To my knowledge, no law or regulation under EEOC (Equal Employment Opportunity Commission) considers a person’s look as a protective class. It is true that people in general have an idea of what kind of person they feel attract...
33 comments
Read more