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 BlogsJuly 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

Luxury vs. Millennials and Their Technology: The Ritz-Carlton (By Julia Shorr)

By
Embodying the finest luxury experience, The Ritz-Carlton Hotel Company, LLC has been established since 1983. In 1998, Marriott International purchased the brand offering it more opportunity for growth while being independently owned and operated. They are known for their enhanced service level as the motto states, “Ladies and Gentlemen serving Ladies and Gentlemen”. The luxury brand now carries 97 hotels and resorts internationally and is attempting to keep the aspects of luxury while keeping up with the trends of the technologically improving generations. The Varying Demographics of the Target Market The Ritz-Carlton’s typical target market includes: business executives, corporate, leisure travelers, typically middle-aged persons and elders, and families from the upper and upper-middle class section of society .   This infers a large range of types of travelers in which all are similar in that they are not opposed to spending extra for the luxurious ambiance. However, with
1 comment
Read more

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
7 comments
Read more

How Covid-19 will change the HR department? (by Vivian Tan)

By
With the current pandemic happening, many businesses are having a hard time. It is hard for them to maintain to pay all their employees, and many things have changed on how companies are running during Covid-19. Because of this virus, employees work from home and might lack the motivation to finish their tasks. Many businesses shut their doors infinitely and file for bankruptcy because it is hard to pay their employees, and there are not many businesses coming in. In the hospitality industry, the HR department must create policies and answer questions from the outbreak. It is also essential that they communicate with workers for any updates and make sure that it does not affect their daily operations.     When it comes to covid-19 concerns, the HR department should communicate with the employees for any updates on the virus, such as informing employees about policies, personal hygiene, posting signs around the workplace about symptoms of the virus, and wear masks. Also, asking employee
5 comments
Read more