Technology has become an integral part of the hospitality industry. Today technology empowers hotels of all sizes with information, which is an essential part of business intelligence. As hospitality businesses become more and more competitive, hoteliers are looking for tools which provide effective business intelligence to optimize operations.
Compared to the past where it was considered a cumbersome and costly process of compiling data and maintaining reports, technology has made business intelligence easy to secure, and makes decision making in operations, sales and marketing qualitatively better.
Why Does a Hospitality Property Need Business Intelligence?
A hospitality property be it a budget lodge or restaurant, or a chain hotel, serviced apartment, resort or starred hotel, can benefit from business intelligence as it lets them access
Industry benchmarks centered around profitability, not just revenue
Market-aware price optimization tied to distribution strategy
Behavioral economics embedded into pricing and marketing decisions
Forecast to manage availability and product management
If your hotel is looking out for a good technology software that is robust, user friendly, flexible and provides a host of BI tool, turn to IDS NEXT. Headquartered in Bangalore, the company is 25 years old, has over 3000 installations across 40 countries and most importantly, has offered hospitality technology solutions for properties of every size.
The company offers holistic technology solutions for hotels that seek answers to the why, where, what and how of sales, marketing and revenue management and facilitates decision making.
Business intelligence is an important part of the hospitality business and choosing the tool enables hoteliers to successfully maintain profit margins. A good BI tool enables a hotel to slice and dice customer information. By analyzing buying behavior and preferences, hotels can identify most profitable customers and design marketing and service programs more effectively.