“Competition makes us Faster, Collaboration makes us Better. Doesn’t it work today for any kind of association between two or more technology stalwarts, who, in their own domains, are already doing wonders, but when collaborate, weave magic – unique & novel, beyond imagination, providing a big thunder boost to business efficacy. That exactly is the case with Big Data Solutions integrating itself in the Hospitality industry. As a business domain, hospitality has been capturing big bulk of information since a long time now, which has the ability to cull out highly intricate and useful information but has not been able to do so, because of lack of a solution that can match up to the data’s bulkiness. Even today, information is being accumulated in this industry but there are lesser attempts and opportunities to delve deeper and value add statistics and extract visually rich and potentially important information, which can surely be the key factors to an increasingly profitable and productive business.
Big Data has come a long way, changing the way you think about everything. It has come at the right time to the right industry domain and has been creating a large number of prospects with different backgrounds. Because this sector offers a lot of base data, Big Data stands a great chance to prove its technical worthiness and thereby offer the best of results in terms of efficiency, business growth and ROI maximization.
How Is Big Data Enhancing Hospitality And Customer Happiness?
Big Data is holding the pulse of the new age data and its cutting-edge analytics have been playing a highly significant role in various industry domains, especially the hospitality sector, where the customer is given prime importance.
Client’s Lifetime Worth & Expenditure Capacity
With such a large variety of clients touching upon the hospitality sector, it isn’t feasible to understand and judge the lifetime worth of these clients, the extent up to which they would spend during their stay, their likes / dislikes and areas where their expenditure could be transferred as a good source of income. Big Data analytics acts as an ideal medium of extracting this information in the desired format at the right time and helps increase business to a large extent.
There could be customers who are here for business and may come very frequently but would leave in a day or two. In contrast, there could be clients who, for leisure have no fixed timeline but at the same time, may not be your regular clientele in future. Big Data helps you distinctly analyze this and thereby, provide them with relevant and appropriate offers and schemes.
Yield Management for Hospitality Sector
With a different geographical location each time, a different set of rooms, facilities, weather, events and much more to influence, it is a challenging task for business owners to perceive what sort of room will attract which type of clients and at what rate. With peer competition increasing day by day, it is all the easier for clients to shift over and hence grasping this information becomes vital. Big Data comes up as the big rescue by merging the structured and unstructured data that has been accumulated over these years and extract necessary information from it. It also helps to showcase the locations that are in demand, based on the season chart and thereby approach regular customers, who have been visiting these areas regularly.
Third Party Integration
Neither do all business owners have a heavy IT infrastructure already set not do they want to invest in one. At such places, Big Data proves to be an ideal choice of setting up a third party integration with external products which provide relevant data in desired formats, adding a large value to the data. Not only does it give monetary benefit, it also ensures a specialized touch to the entire setup through experts, thereby reducing chances of errors and increasing perfection.
Future Business Prospects
For any hospitality business to expand, it is essential to analyze the previous data and extract information like units in which area are most often visited and when. That is when we come to know the requirement capacity and can thereby derive a futuristic plan for further endeavors to happen. Big Data could give your leads and indications as to how and when could the business be expanded, with a proper set of statistics and visual representation, which proves its authenticity and level of detailed understanding.
One of the most authentic sources of feedback is from the client themselves. Usually, there is some medium existing to capture the feedback from guests, but what happens next. Over a pile of feedback, there is no further action. That is where Big Data comes in to systematically showcase all the feedback, be it positive or negative, on a regular basis and suggest changes / updates in the day to day functioning of the organization.
SPEC INDIA provides excellent Big Data Analytics Services and has been consistently providing quality solutions in BI and Big Data technology. Our BI and Analytics portfolio showcases excellent capabilities to structure, curate, analyze and handle all your data with prudence. With implementation expertise in Big Data solutions with technologies like Hadoop, MongoDB and HP Vertica, we excel in building custom database solutions for our enriched client base, along with advanced Big Data services. We are global certified partners of Pentaho and officially figure in the Pentaho Partner Network List. We also provide highly skilled Business Intelligence and Big Data resources, which could be hired on hourly / monthly / yearly basis for onsite and offsite engagement.