Big Data: How to optimize hotel data?
Data, information, statistics, etc. play an important role in the decision making of any company. And it is that, through data, we can not only accurately evaluate the direction to follow, we can also support it.
That is why learning how to optimize hotel data is very important. Below, we will tell you some strategies that will help you make better use of all the information and data that are on the Internet, waiting to be used by companies for decision making.
What is Big Data?
According to experts, Big Data is that large set of data that is on the Internet and that is made up of all the information generated by users. From the photo you upload to your social networks, the pages you follow or what you search on Google feed this large mass of data.
Such is the massive size of this information that it can be subdivided into a smaller set known as Small Data. This is basically a piece of Big Data, which can be narrowed down to, for example, a segment such as hotels in a certain city or country.
How can a hotel use data to its advantage?
Optimizing and understanding hotel data for a hotel involves taking all this information, finding valuable conclusions, and using them to make decisions. This includes analyzing data related to occupancy, volume of travelers, average cost of hotel nights, competitor data, etc.
Here are some examples of how to use hotel data optimization to your advantage:
Hotel occupancy data
One of the main uses of Big Data for hotels is the analysis of their potential occupancy. Through historical data, for example, you can estimate how many guests you will receive during certain seasons and make decisions based on this, such as increasing or decreasing rates.
Setting rates
Another reason why optimizing hotel data is so important is in setting rates. With Big Data, it is possible to estimate the average prices of the destination with greater precision, compare them with occupancy, and decide which is the best option to increase your reservations without sacrificing your
Destination information
Through Big Data, it is possible to obtain many useful conclusions and insights to, for example, determine the viability of a hotel project or improve marketing campaigns. This is done by analyzing how the destination and its competitors are viewed.
Predictions
Finally, Big Data and hotel data optimization can be used to predict how a hotel or destination will perform in the future. Just look at how Google in the United States was able to predict a flu pandemic just from its searches.
Sources of information for hotel data optimization
An important key in hotel data optimization is the source from which the information is obtained. Some of the sources you can use are:
Your reservation management platform
The first source we find is the internal one, for example, your reservation management platform, reservation book or internal records. All that information is generated from the guests who arrive at your hotel.
Social Networks
Another source that you can use to feed your hotel data optimization system is social networks. From Facebook, Instagram, TikTok or Twitter you can obtain a lot of data, for example, on trends, occupancy, market preferences, among other conclusions.
Search Engines
The last option we have is to obtain data from search engines, for example, Google, where trends and traffic volume can say a lot about a destination and its accommodations. Platforms such as Ubersuggest or Google Trends can work perfectly, as they are simple and free.
How to achieve hotel data optimization?
Some strategies that you can follow to achieve hotel data optimization that is useful for your decision making are:
Determine your goals
The first thing you need to do to truly optimize your hotel data is to determine what you’ll be using that information for. For example, if you want to determine your occupancy, the data you collect should be based on that.
Choose relevant sources for those goals
Once you know what you’ll be using the data for, for example, for your hotel digital marketing, you can choose relevant and useful sources of information. This is because not all of them work for all purposes.
Use data processing tools
So, you’ve decided that OTA reports and metrics, for example, will be your data source. Now what? The next step is to process that data to draw conclusions. To do this, you can use advanced processing tools that use technology like Machine Learning like Oracle, or you can choose to use AI like ChatGPT.
Collect your own data
Of course, one of the best sources of data for any hotel is internal. That is, all the information that you, as a hotel, gather from your guests is of the highest quality and most useful that we can find. This can come from your booking platforms, CRM, social networks, messages, etc.
Draw conclusions and use them!
The last thing left to achieve true optimization of hotel data is to take that data and draw conclusions from it. From this, we can make better decisions. For example, if we see a drastic drop in reservations, actions can be taken such as launching advertising campaigns or reducing rates.
We help you with hotel data optimization
If you want to achieve better results and always have your hotel full, come to us! And our HUB of experts with extensive experience in the hotel sector will be in charge of advising you to achieve it.
