Big Data – Challenges for the Hospitality Industry

Hotel companies who are able to deal with Big Data will create a sustainable competitive advantage. An increase of profitability by 60% and more are prognosticated. But what is Big Data and how can manager use it in the Hospitality Industry? What is the distinctive value and what are key areas for a successful implementation? Michael Toedt, marketing specialist and managing partner of TS&C, one of the leading marketing software and consulting companies, explains in his new book – the first one exclusively for the Hospitality Industry – the biggest hurdles and gives hoteliers recommendations for a successful usage of Big Data.

Especially through the increasing relevance of the social web and the ongoing digitalization of our all life's, an enormous amount of data has been raised over the last years and is exponentially growing. 90% of all available data has been produced within the last two years. By the year 2020 the available data will be increased by the factor 50 based on 2009. This phenomenon of an ever bigger amount of available data is called Big Data.

The enormous increase of data makes it clear that the current software landscape in the hotel business is unable to cope with the new requirements. A new structure is needed.

But not only the IT is affected, experts agree that the phenomenon of Big Data has the potential to significantly influence also the organizational structure and the way companies work and interact with their customers. The book explains ways to deal with the new challenges and explains why especially the role of marketing managers will change.

Michael Toedt is founder of one of the leading global software CRM solutions for hotels and lecturer at the University of Applied Sciences in Munich. He has been working for years with the issue "Big Data" which is also part of his PHD thesis.

"Customer Data is the salt of our modern times. Was the enormous luxury of merchants in the mediterranean during the middle ages caused by spices like salt, so will the prosperity of companies in the very near future strongly correlate with the ability of the management to read and use customer data. With data companies can differentiate the own products and services from the market environment and become by far more competitive and profitable." states Michael Toedt.

The new published book via amazon or the conventional book trade by using the following ISBN: ebook (ISBN 978-3-8442-5319-1 – € 14,99) and hardcover (978-3-8442-5136-4 – € 42,95).

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