Role of Data and Information in Hospitality Industry

Data
insights
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
1. Determine the role of data as well as information in specific industry or professional sector
................................................................................................................................................3
2. Identify which type of data is gathered as well as used by a company if there is 1st , 2 nd, or
third-party data.......................................................................................................................4
3. Determine how data as well as information are utilized in day to day operations of a
company in selected sector.....................................................................................................5
4. Evaluate how information are captured as well as stored with the key reference to kinds of
database system and information system...............................................................................6
5. Provide an example how data is being used in order to deliver insight for a company
decision making within specific sector...................................................................................6
6. Define how market research primary as well as secondary studies can be used in the
conjunction along with MIS and other database system to enhance insight..........................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9
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INTRODUCTION
Data is a collection of organised and synthesized information through analytics, used to
gain deeper understanding, or insight, in the businesses. Data insights is the knowledge that a
company gains from analysing sets of information from a given topic or situation. Analysis
provides insights which helps in reducing the risk which comes from trial-and-error methods. For
conducting this report hospitality industry is selected which have huge category of field within
service industry (Ambrosini and et. al., 2020). This will include food and drinking services,
lodging, theme parks, event planning and so on. This also include hotel, bar and restaurant.
Topics covered in respective report are role of information and data within hospitality industry.
Moreover it also include type of data is collected and used by the organisation and if this is 1st ,
2 nd, or third-party data. Along with this, it also include information and data is used within day
to operations of organisations and this also consider how information is captured and store as
well as it include used of deliver insight. It also include methods for MIS as well as other
database systems to increase insight.
MAIN BODY
1. Determine the role of data as well as information in specific industry or professional sector
Data is a collection of organised and synthesized information through analytics, used to
gain deeper understanding, or insight, in the businesses. Data insights is the knowledge that a
company gains from analysing sets of information from a given topic or situation. Analysis
provides insights which helps in reducing the risk which comes from trial-and-error methods.
Roles of information and data in hospitality industry
The data can diverse as well as come from a huge range from diverse sources. In
hospitality industry, these data are commonly associated with the customer interactions as well
as behaviour. The importance of this data is given below:
 Revenue management: The data and information stored helps in revenue management
strategy of the industry. It allows the management to carry out predictive analysis and
more accurate anticipation of demand of hotel rooms (Gorup and et.al., 2020). Examples
of kind of data used include past occupancy, rates, current booking, school holidays or
any local event etc.
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