HEWLETT-PACKARD

Business Analytics
Report on business analytics used in hospitality
industry

By:

Akhilesh Jajee (19BSP0222)

Akshay Gupta (19BSP0239)

Amandeep Dahiya (19BSP0288)

Arati Patnaik (19BSP0483)

Nikhil Khatri (19BSP3609)

Shubhie Maheshwari (19BSP2760)

Submission date: 02/11/19
Report on business analytics
used in hospitality industry
Introduction
In the hospitality industry, data analytics can be used in numerous ways in order to
improve business operation, marketing strategy, occupancy rates and yield.
Analytics can also help hoteliers cut down their energy costs without sacrificing
guest comforts.

Hotels and alternative corporations that exist at intervals the welcome business ar
more and more planning to grips with the construct of massive knowledge, and
also the varied ways that it will facilitate them to get additional revenue and deliver
a more robust expertise for patrons. during this article, you'll resolve additional
regarding what huge knowledge is, why it's become therefore necessary, and also
the numerous ways that it are often leveraged for the good thing about hotels,
resorts and alternative welcome corporations. For knowledge to be classed as ‘big
data’ it has to be overlarge in volume to be processed through ancient processing
strategies. Crucially, it are often used at intervals the fields of each prognostication
and activity analytics, and may facilitate corporations to spot key trends or
patterns, which might then be ready to advise their strategic policies

Objectives
The main objective is to cater the needs of their customer. Place where they can
take rest like in rooms, place where they can consume food and beverages.

 Customer services in hospitality providers often measures performance rates

of customer
 Sharing data can improve influence with customers and other groups. By
this a company’s influence with not only customers but also a broad array of
other stakeholders
  Organizations use more data sources to engage customers many
organizations are already making use of data from customers, vendors,
regulators, and competitors
 The customer complaints and feedback are tallied and categorized; you will
be able to identify which areas of your business are causing the most pain
for your customers. This enables you to focus on customer satisfaction

Benefits of Hospitality Analytics

There are various segments in which hospitality industry leverage the big data with them
to improve their business operations.

1. The reservation department of the hotel uses the data for predicting the best possible
rate of a room.
2. According to the past behavior of the guest, the hotel can suggest local tourist points
according to the taste of the individual.
3. The restaurant department can use analytics in the form of predicting which menu
items are more likely in demand based on the local weather and festival season etc.
4. It enables sales and marketing team to create and send tailored messages to woo
potential customers.
5. Analytics also helps hoteliers to cut down their costs by not compromising on the
guest’s comforts.

How Marriot uses Big Data Analytics to constantly

improve?
Many competitive advantages are been achieved by Marriot by using Big Data analytics.
The data is used to track competitor’s brands and hotels, identifying new revenue system
outside the rooms such as new facilities and services, and making sure that the
customers and guests, local community are satisfied.

DYNAMIC PRICING
 It is also known as surge pricing, demand pricing and on time based pricing. It is a
pricing strategy in which business set flexible prices for products and services based on
current market situations.

HOW DYNAMIC PRICING USED IN HOSPITALITY

INDUSTRY?
It helps in calculating the real-time factors, accurate data from various sources by
comparing economic factors locally and globally. Some key metrics are used for
events and weather reports, such as average daily rate, cancellation and occupancy,
revenue per available room, reservation behavior, average occupancy rate, gross
operating profit per available room.

By this analysis all the information, Marriott is able to predict customer behavior
and understand how the properties ore performing compare to their competitor in
the same area targeting similar profile and eventually can also adjust its pricing
strategy.

Further, The Marriot is also experimenting with guest services robots for routine
task such as concierge services. The hotel chain partnered with Amazon to install
virtual digital assistance with some of its properties. Those facilities will be
equipped with Amazon Echo speakers that feature Alexa for Hospitality this
software specially designed by Amazon for the hospitality industry. Where guest
will be able to access local and hotel information, requesting hotel services as well
as listening to audio-books, play music and control smart home products such as
lights, thermostat and TV

The Amazon eco offers them many advantages. First of all it contributes to an
engaging and delightful experience for the guest, making them feel closer to home.
Secondly, it liberates the front –desk from several duties, finally allows Marriott to
collect information about their consumer preferences, which will provide the
company with a deeper understating of what its guest, are looking for requirements
 Big Data analytics: challenge and opportunity of the
hospitality industry
Investing in big data analytics doesn’t guarantee a hotelier will outperform their
competitors their competitors. There needs to be a solid understanding of big data,
not just form a technological perspective, but also most importantly, from a culture
point of view. It’s about being data-driven, not about collecting huge amount of
data that increase complexity and no know when they will be used.

 Marriott also shows that there are always some obstacles when embracing
big data analytics even for those who understand it.
 The hotel chain suffered a hacking attack that involved data from up to 500
million guests, luckily the unauthorized third party wasn’t able to gain aces
to encrypted payment information to utilize the cards.
 While benefits of these technology totally outweigh the cost those
challenging
The issues like these are very uncommon for business embracing artificial
intelligence and data science. It becoming data-driven allows increasing the
efficiency and sharpening strategies based on real-time accurate information. Big
data can bring incredible benefits to all the departments, not only marketing and
also those who will fully embrace it will be those leading industry in the future.

Analytics background in India

A Hospitality industry has never been so competitive with number of venders on
the rise of consumer is the spoilt for choice. Adding little to no differentiate hotel
offers, switching cost for the consumer is actually very low. In such scenario, hotel
has to go over traditional methods to identify the guest trends to recognize problem
areas and develop strategies to fix them at the right time so as to increase
profitability. They must able to react to market changes quickly and efficiently.

PARTICIPANTS IN THE FIELD OF HOSPITALITY

ANALYTICS SPACE
Hospitality analytics Software Space consists of both the big and small participants, e.g:
SAS, IBM, Accenture, etc.
Some of them are explained below:

 HOTEL SAS

Following are the solutions provided by SAS hospitality analytics:

 Customer loyalty, Price and Revenue management.

 Data management
 Operations analytics
 Digital marketing, etc.

 NEUBRAIN

Neubrain Business Analytics in the field of Hospital solutions helps in combining the
Profit & Loss, Planning & Sales and Operations planning (S&OP) processes
collaboration as a whole integrated framework.
The following ways adopted by them helps in taking the informed Financial &
Operational decisions:
 Fast deployments
 Powerful analytical capabilities
 Accuracy and Automation

 DUETTO
 Duetto is one of the leading participants in Hospitality analytics space. It provides
revenue strategy solutions to the world’s leading hotels and casino using cloud-based
technology.
Duetto has mainly 3 products:

 DUETTO EDGE
It delivers powerful insights on Pricing and Demand through a 100% cloud based
application.
 DUETTO INSIGHT
Duetto insight provides a cloud based revenue strategy solution to better forecast
Demand and optimize Pricing, with a simplified Feature set designed especially for
Focused service.
 DUETTO GAMECHANGER
It ensures casino hotels always select and retain their most profitable customers,
accounting for dynamic demand, occupancy and segment volumes, independently
assessed by each individual customer segment, room type, offer or discount.

 GUESTWARE
Guest ware’s edifice Guest recognition system helps within the combination of the
assorted promoting aspects of CRM with the service delivery aspects of a Guest
responses towards system to produce Associate in Nursing integrated
guest expertise management systems which will also allows you to proactively
and systematically exceed guest expectations. It includes guest response and incident
tracking we can also be connected through mobile app or chat process providing best
facilities for customers.

Conclusion
There is forever a desire to maneuver, amend business ways. coping with even the
tiniest information you get will impact your business considerably. This
paper provides associate degree insight to business analytics in cordial
reception sector.
However analyzing the countless information obtainable, once brought into a closed-
loop system, of the normal system of operating will absolutely impact the business
sales, profits, increase savings and facilitate look out for opportunities, to place the
business a step ahead in market by implementation of analytical
tools that are additional vital to figure good and keep hold on business ways with
low price potency.