How can business intelligence software improve profitability and efficiency?
Business Intelligence tools are designed exclusively for analysis; to provide fast and widespread access to accurate information and insight. Through dashboards, reports and analytics. users can explore their business – both historical performance and future activity. BI automates reporting, turning report producers into information consumers who can in turn analyze and apply their findings to influence business results. Business Intelligence is about gathering data from a variety of sources and then utilizing technology to serve information to decision-makers in ways that help them to understand where opportunities exist within their business.
Throughout the hotel industry, we suffer from a lack of critical, timely information on the most fundamental aspects of our business. We attempt to address this deficiency through manual reporting; printing reports from operational systems, keying numbers into spreadsheets and emailing files daily. This turns some of the industry’s brightest minds into simple report producers. BI automates, accelerates and enhances reporting, turning these report producers into information consumers who can analyze and apply their findings to take advantage of business opportunities while they still exist.
- Increase Occupancy %: Using advanced Pace metrics, users can see areas of opportunity or concern well in advance and take action to optimize their hotel’s occupancy.
- Boost ADR: Analyzing production across market segments, booking channels and source markets, users will be able to see their most and least profitable business, and adjust accordingly.
- Grow TRevPAR: By analyzing the segments with the highest total net spend and determining when & where those guests are being displaced, users can optimize their mix to generate higher revenues across departments.