Data Insights & Analytics for Business Decisions in Hospitality

This report discusses the types of data collected by the hospitality industry and how this information is captured and stored, with a focus on management information systems and databases. It evaluates the impact of technological developments on the role and use of information in business decision-making, emphasizing how data is utilized in day-to-day operations. The report contrasts big data with orthodox market research, highlighting their differences in data volume, processing complexity, and application. It also outlines potential research avenues for improving data capture and stresses the importance of customer interactions and behavior-related data. The conclusion emphasizes the role of technology in simplifying data analytics and enhancing customer relationship management and employee engagement within the hospitality sector. Desklib provides access to this and other solved assignments.

Data insights For Business
Decisions
Data analytics for business decisions in the hospitality industry

Cover page

TABLE OF CONTENTS
 Introduction
 Type of data collected by hospitality industry
 Orthodox market research
 Explaining how information is captured and stored in hospitality sector
 impact of technological development in the business decision making process
 How information and data is used within the day to operations
 outline for research into improving data capture
 conclusion
 References

INTRODUCTION
 The main aim of the current presentation is to discuss the type of data being
collected by the hospitality industry
 The report explain how the information is stored and captured with special
reference to management information system and database
 The influence of technological development on the role and use of
information in the business decision will be evaluated
 Emphasis on analysing the manners in which data is utilized in day to day
operations within the sector
 Outlining research for improving data capturing

TYPE OF DATA COLLECTED BY HOSPITALITY
INDUSTRY
 Hospitality industry collects and makes use of big data
 Big data involves collecting large volume of information mainly associated
with customer behaviour and interaction in the context of hospitality business
 The big data is collected and applied in revenue management, personalized
marketing, customer profiling, menu engineering and addressing the internal
pain

ORTHODOX MARKET RESEARCH
 Big data and orthodox market research are in the same pool but they are quite
different
 Orthodox market research involves collection of little amount of data through
utilizing large sample sizes and multiple methods on different scale.
Orthodox market research Big data
Orthodox market research is a small
perspective
Big data is a broad perspective
Can be easily processed, managed and
handled
Difficult to manage, process and handle
It is being defined as the intention It is being defined as the resulting
behaviour
Orthodox market research is made up of
small structured and simple market
information
Big data is made up of large
unstructured and complex information

Explaining how information is captured and stored in
hospitality sector
Gathering data during the booking
process
Check-in or check-out
survey

The impact of technological development on the role and
use of data in the business decision making process
Data
collection
improvement
Enhanced
data analysis
quickly
collect
feedback
Big data
informs
research
Quick
customer
service

Continued….
 On the negative side, technology has increased pressure on business in hospitality field to
adopt new and update version.
 The firm who does not adopt advance technology may lose market position in the
competitive world. To deal with this company has to focus on:
data based decision making process
On time customer service

How information and data is used within the
day to operations
 Information systems and data collection is used by company to produce information about
everything related to business operations
computer based information systems
Daily operations and improve decision making
process

outline for research into improving data capture
customer interactions are important
Important metrics
Behaviour-related data is important

CONCLUSION
 To conclude, orthodox market research involves collecting little information through using
different methods and large sample size.
 However bid data involves collection of large chunks of information which are sometimes
difficult to handle and manage.
 with the help of technology, hospitality industry is able to analyse the important data.
Technology is making data analytics easier and more sophisticated.
 By having advanced technology, the industry can easily maintain customer relationship
management and employee engagement.