View Is the fine line between data driven decision making and analysis paralysis unavoidable?

Analytics Efficiency

The purpose of gathering and analyzing information is to produce a strategic course of action which changes or improves our desired outcome. Our goal is to reduce the time between data gathering and formulating and implementing actionable outcomes, or what I refer to as analytics efficiency.

Raul Moronta
View by Raul Moronta, CRME, CHIA, Chief Commercial Officer, Remington

Consider the following:

  • Can this data help me change an outcome or provide meaningful insights? The time spend analyzing it will depend on the usefulness of the information.
  • What is the shelf life of the data? Every data extraction by definition is already obsolete. If your data is constantly moving, then your desired outcome might also have a perishable usefulness. Time spent analyzing depends on the speed in which you can put it into action.
  • Use analytics tools to help with summarizing your results, (excel, Tableau, PowerBI, etc). The more advanced your data strategy and reporting capabilities, the easier (and quicker) it will be to address the question being presented.

Finally, data is a critical piece of the puzzle, but data alone can not tell the story. That is because while the data may contain the story, we are the storytellers. We are the ones that have to put that idea into action. 

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Raul Moronta
Raul Moronta
CRME, CHIA, Chief Commercial Officer, Remington

Joined Remington in 2020 and has over 25 years of experience in operations and revenue management. Most recently, Raul was the Senior Vice President of Revenue Management for Crescent Hotels & Resorts.

Remington
Hotel GroupManagement Company

Remington is a dynamic hotel management company providing genuine hospitality and expertise in property management. Founded in 1968, the hospitality group has grown into a strong, industry-leading service provider and today manages 128 hotels in 27 states and Washington, D.C., across 24 brands, including 18 independent and boutique properties. Remington believes its people are the ultimate source of competitive advantage.

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