Hotels are scrambling to anticipate travelers’ future needs, and while no one has a crystal ball, some changes already taking effect can help us get a glimpse of what’s to come. Some of the patterns are already there for us to see. Take a look at how to future-proof the hospitality experience.
Predictive data is the future of Hospitality
Predictive analytics is the use of data, statistical algorithms and machine learning techniques to identify the likelihood of future outcomes based on historical data.
The goal is to go beyond knowing what has happened to provide the best assessment of what will happen in the future for Hotels.
For years now our primary focus has been on big data:
Volume: The main characteristic that makes data “big” is the sheer volume. There are estimates that indicate we will see around 2.5 Quintillion Bytes of data are created every day.
It is an insane amount of content that will be produced on a daily basis.
Variety: Variety is one the most interesting developments in technology as more and more information is digitized.
30 Billion of pieces is shared on Facebook every month.
People use a variety of ways to express themselves on Facebook. It can be a picture, voice, video, live and text.
Veracity: Can we trust all the date we see today? We have to put in place strategies that allow us to understand if the date is representative.
Velocity: Tremendous amounts of data hits us daily. Social Media has made us more connected to the world around us. It is critical that we analyze the patterns of this data.
Value: The objective for big-data is to create new high-value alternatives. The insight gathered provides Hotels with opportunities to create new products or services, cross-selling, and cut costs.
The importance of predicative data
Predictive data helps solve difficult concerns and uncover new opportunities.
Detect patterns – due to the amount and speed of data we need to detect critical patterns that have an impact on Hotels. This can be both patterns that represent a concern and high-performance behavior.
Hotels today want to identify both suspicious and performance behavior as early as possible to make sure they take proper actions steps.
Know your community – keeping the pulse of your Hotels community with dynamic customer profiles and segments derived from patterns identified through all data at speed and scale.
Predict actions – gaining insight on what type of actions to take with individuals or segments to acquire, grow and retain customers.
Analytic Insight – insight into Social Community through intuitive, graphical and customized user interfaces.
Excellence team – create new innovate teams with focus on excellence through predictive data.
Prequalify new team members – Have you ever seen a superstar hire stumble and flame out? Know of an excellent employee that couldn’t connect with a manager?
This indicates a compatibility imbalance, and it’s one that can be identified through predictive data. Data-driven insights deliver actionable advice to help Hotel recruiters acquire and retain talent that fits the Hotel, the Social Community, and the brand – powering the team and increasing business outcomes.
Predictive modeling is a process that uses data mining and probability to forecast outcomes.
With Blue Ocean strategies and the Hotel Content funnel the primary focus is collect important data and model patterns that taps into uncontested markets for your Hotel.
The Hotel Content Funnel – a dynamic process
I work on content strategies that support The Hotel Content Funnel. This is an ongoing dynamic process where data, information, and innovation will reach the relevant consumers for a given Hotel.
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If you want to learn how I can help contact me here. I will be your guide through the Hotel Funnel.
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