How analytics helping hotel business?

Question

Could someone mention how Data Analytics and Business Analytics are helping the hospitality industry?

Answer 1

These analytics are helping the hospitality industry by giving them tons of data with the help of which they are leveraging their revenue with the help of the following points:

• Customers Data Analysis and demographic: helps to segregate their customers into different sections.
• Real-time Hotel pricing strategy: helps in giving out the best deals always for their customers.
• Real-time management of booking and inventory: no more excess or more than sufficient inventory and streamlining all booking systems.
• Demand forecasting and risk assessment: enables companies to be better prepared for the high demand times and low demand period.

Are you an aspiring Business Analyst? Then do check out the Business Analyst course from Intellipaat!