New Starfleet Research study: Business intelligence improves hotel performance

It has long been known that business Intelligence (BI) can be instrumental in helping hotel operators make smarter and more timely decisions, hospitalitynet.org notes in the following article:

Now a new groundbreaking study from Starfleet Research, the leading provider of IT market research for the hospitality industry, explains at length how hotels that use advanced BI tools and capabilities to transform raw data into actionable insights are driving significant improvements in several aspects of their operational and financial performance.

According to the latest study, entitled Leveraging Business Intelligence to Improve Hotel Performance (currently available for complimentary access), 96 percent of hotel operators believe that their ability to generate business intelligence has been "successful" or "very successful" in enabling them to achieve their desired business results. Amongst the key research findings:

• 95 percent of hotel operators cite time reduction (e.g., time needed to get information, make decisions, etc.) as a major reason to utilize advanced business intelligence tools
• 92 percent of hotel operators agree BI tools are "effective" or "very effective" in assisting them manage and optimize their market and channel mix
• 84 percent of hotel operators view the need to achieve optimal data quality as a great challenge with business intelligence

"Rather than spend inordinate amounts of time grappling with endless formatting, data importing and exporting, version control issues, and poor visualizations, hotel operators can utilize powerful, flexible and intuitive tools designed specifically for their industry and even their specific roles and areas of accountability," cite the Starfleet Research analysts who authored the report. "The tools allow them to focus their attention on getting the answers and insights they need to maximize operational and financial performance as well as improve the quality of the guest experience."

"The best of these tools deliver real-time insights that enable hotel operators to make the best decisions quickly and accurately. Data discovery tools help answer new questions as they arise, allowing for a more proactive approach to decision making."

This definitive and unbiased resource, 19 pages in length, was underwritten by Rainmaker, a market leader in profit optimization solutions for the hospitality and gaming industries. The research findings were derived from online surveys carried out with more than 350 hotel executives and other industry practitioners. The practical guide contains a wealth of information about the latest BI technology innovations, how next-generation solutions are being utilized in the hotel industry, and best practices and expert recommendations for hoteliers to keep in mind as they embark on the journey to improve their business intelligence capabilities in their quest to drive continuous performance improvement.

Leveraging Business Intelligence to Improve Hotel Performance is available for complimentary access, courtesy of Rainmaker, for a limited time only.

The co-branded eBook is the latest in a series that looks at next-generation hotel technologies. It was independently produced and distributed by Starfleet Research, which ranks as the leading provider of best practices IT market research and recommendations for the hospitality industry. Each year, Starfleet Research benchmarks best practices in technology-enabled business initiatives across thousands of hotels and resorts. Its popular Smart Decision Guides, which have influenced the IT decisions of tens of thousands of senior executives, focus on such topics as Hotel Property Management Systems, Hospitality Revenue Management, Hotel Guest Experience Management and Restaurant Management and POS Systems.

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