Business intelligence (BI) can help businesses to make more data-driven decisions. It presents the current and past business data to make better decisions for the future. Data analysts can use BI to perform better and run the business smoothly and efficiently. Data analysts can also leverage BI to identify market trends to boost their revenues. HData System created a BI solution for their Hotel clients that would give them better data insights to identify opportunities and improve performance, making more revenues in each department.
Our client, who owns a hotel, wanted a sound BI system in place that would give them data insights that allow revenue managers to recognize opportunities, enhance performance, optimize sales and profits in every department. He wanted a robust solution so that they don't need to manually review the reports from their revenue manager, sales manager, and general manager. Hence, our client approached us to build a unique and robust solution to resolve their issues and automate their work using business intelligence tools.
We implemented BI software including the following success metrics to help hotel managers measure their performance such as - revenue generation index (RGI), average daily rate (ADR), occupancy rate, market penetration index, RevPAR, average rate index (ARI).
Moreover, we also applied custom loyalty management to the BI software. This system tracks all the hotel guests' spendings, including loyalty program members. If the eligibility matches, the system naturally gives the quests a specific number of loyalty points.
Our team implemented a solution to help the marketing teams analyze whether or not to run promotions or change prices for guests to raise direct bookings on their website, establishing loyalty to stimulate return bookings and suggestions.
We created a hotel loyalty management software for competitive benchmarking, which allows our clients to compare the prices with their competitors using special metrics.
It was our first time building a BI solution for the hotel; hence a bit challenging as we had to understand the operational working of the hotel and get deeper to provide them accurate results in their BI software.
We had to use advanced technologies to forecast whether or not to do promotions or change hotel rates, which was an arduous task considering the volatility of the hospitality industry.
After implementing these robust solutions, we got fantastic results from our client six months after implementing the cutting-edge BI solutions.
Our client's hotel occupancy rate shot significantly due to the incredible algorithms of the business intelligence software.
The client's every department received excellent data insights into their area, which helped them make perfect decisions.