DO'S & DON'TS in Evaluating an Effective Business Intelligence solution
Introduction
A good BI solution custom-tailored to your organization’s needs is hard to find in any industry, hospitality being no exception. At Lighthouse, building a BI solution from the ground up has been a major undertaking for us over the past decade, and even though we’ve come a long way, in many regards we still feel like the journey has only just begun. We are constantly enhancing our own business intelligence platform, and still have a laundry list of future enhancements that we are eager to add.
Currently, the amount and complexity of data in the hotel industry have never been higher. Hotel commercial teams increasingly need a solution that allows for quick insights leading to revenue-boosting strategic decisions. If a BI solution doesn’t allow for this kind of analysis, it won’t be able to compete in the market.
Now, let's consider the essential Business Intelligence Do’s and Don’ts. If we were to start from scratch and develop another BI solution for our industry, what would be our top priorities? Similarly, from the perspective of a prospective customer, what should you look for when evaluating a BI solution for your hotel or organization.
The Hotel Yearbook Technology 2024
The HOTEL Yearbook Technology 2024 delves into the transformative power of data in the hospitality industry, exploring how the "everything-data decade" is reshaping the landscape. This year's edition emphasizes the surge of data-focused innovations and products with open architectures for seamless data exchange and micro-applications embedded in diverse tech stacks. As data, often dubbed "the new oil", becomes pivotal for hotels to refine brand identities and the struggle to offer hyper-personalized services, it also plays a critical role in managing labor and energy resources efficiently. The publication provides essential insights and recommendations into harnessing data for superior service delivery, agile resource optimization, robust data security, and crafting extraordinary guest experiences.