Business intelligence or BI helps to convert unprocessed data into information that enables the management to make business decisions that are profitable for the hotel. BI utilizes a number of processes, technologies, and architectures to bring about this transformation.
Impact Of BI On The Hospitality Sector
Business intelligence helps the management take intelligent decisions for the progress of their business based on facts and not whims or gut feelings. BI thus has an impact on
• The strategic business decisions of a company to target a specific audience or to measure the success of a marketing campaign.
• The tactical business decisions of a business organization such as inventory planning or investment in advertisement and marketing.
• The operational business decisions of an organization such as pricing of holiday packages, room discounts, or employee management.
How Do We Process Business Intelligence
• The raw data from different databases of the company is extracted.
• This data is cleaned and entered into the data warehouse.
• The BI system is used to conduct any type of analysis that is required for the growth and success of a business enterprise.
Importance Of BI To Business Organizations
• Business intelligence increases the transparency of the different processes within the business.
• It streamlines business processes with the help of benchmarking and computer modeling.
• This helps staff to work smarter.
• Productivity increases as reports and information are available at the click of a button.
• Companies are able to be on top of changes in technology.
• Helps you to retain your customers.
• Financial forecasting is liable to be more transparent.
• It fixes accountability for decision making.
• BI helps the management to get a bird’s eye view of the entire setup.
Who Uses Business Intelligence
Business intelligence is used by different types of people in the hotel sector:
• The professional data analyst uses it to get insights into business decisions and strategies. It is based on their analysis that business plans are made
• IT users are responsible for maintaining the infrastructure of the BI system.
• The CEO and top management can make well-informed decisions based on the data provided by BI.
• F&B managers, revenue managers, sales managers and marketing managers.
