BI for Hospitality and Entertainment: A Competitive Edge!
When it comes to recreation and enjoyment, the hospitality and entertainment industries are the best at anticipating how consumers want to relax. Whether a business is focused on lodging or on concerts, movies or live theater, the market for consumer dollars is hotter than ever and, to succeed, these types of businesses must predict trends, anticipate seasonality and modify products, services and marketing to accommodate changing consumer behaviors.
Analytics for Hospitality and Business Intelligence for Entertainment Industry are tools that are now widely used to predict and forecast, to test possible product and service ideas, and to anticipate competitive response. KPI for entertainment industry staff can help businesses to establish and manage key performance indicators and metrics and take the guesswork out of results. BI for hospitality teams can help organizations understand what guests like and dislike about services, what new amenities are the most popular, how locations and facilities compare and where the business should plan to open its next location.
The Hospitality and Entertainment industry is a fickle, competitive market. With so many options and choices for vacation, travel, entertainment and services, an enterprise in this industry must effectively manage its business and service value and offer new products and services, and innovation to keep pace with customer needs and market trends. Whether your business is a hotel, airline, pub, restaurant, travel agency, or entertainment complex, you have the same need for data. Analysis of current customer feedback and needs and the forecasting of trends are just two of the factors that drive your business. If you are to achieve excellence in customer satisfaction and optimize resources, investments, and performance, you need a simple way to view and analyze data and make confident decisions.