In an era where data is often likened to the new oil, the hospitality industry faces significant challenges in navigating the maze of complex information. Our IT infrastructure is collecting more data than ever before, but how can we make sense of this digital jungle to extract valuable insights? This article is part of a three-part series In this first installment, we discuss two key areas where data analytics will be important for the hospitality industry in the “democratization” of data and creativity in the coming years.
Image credit: DataThinkLab
Democratizing data and AI: Opening new doors
Modern technology has transformed archives from physical repositories to streams of digital code. This transition from the world of controlled, controlled, and organized archives to today’s vast unstructured digital data brings both daunting challenges and untapped opportunities. Once upon a time, archives were closely guarded treasures, meticulously categorized and managed by authority figures. Fast forward to the present, and we find ourselves in a data-rich yet chaotic world, no longer under the strict control of these gatekeepers.
How will the shift from order to abundance impact the hospitality industry? It poses a unique challenge: the ability to identify valuable insights from an overwhelming ocean of information. It is estimated that 70% of collected data currently remains unused. At DatathinkLab, we strongly believe that those who master this skill and transform data chaos into structured and insightful stories will lead the future of the hotel industry. Taking a human-centered approach and using tools like natural language processing and no-code app development is revolutionizing data analysis. These advances will democratize data, allowing more companies in the hospitality industry to leverage analytics and turn complex data into strategic assets.
Data strategies, once costly and time-consuming and limited to large groups and chains, have become more accessible thanks to the democratization of data. This change won’t replace traditional analytics, but it will open it up to boutique hotels and smaller chains, allowing them to tackle data strategies that were previously out of reach.
The flip side of data accessibility and data abundance is growing concerns about data security and privacy. We all face the challenge of handling data with care. Responsibility and accountability for ethical data collection and use are important issues. Is it the duty of the SaaS platform creator or the guest experience designer? Personalized experiences must balance guest comfort with innovative data usage.
Data: It’s no longer just for geeks
The challenge today is to find clarity amidst the ever-increasing complexity of information. The growing amount of data from property management systems (PMS), SaaS platforms, websites, online reviews, and external sources makes that task challenging. But it’s no longer just a playground for engineers and data scientists. Thanks to AI, individuals with diverse skills, including creatives, are joining the data game.
In a recent podcast on ‘The Future of Designers, AI, Data in Architecture and Beyond’, Helen Armstrong shared how designers are becoming major players in the world of technology. Their approach to problem-solving prioritizes human needs over technical limitations and introduces a fresh perspective to data analysis. Designers have a unique skill set that allows them to focus on the problem at hand. You can creatively analyze data and think outside the box to uncover opportunities you might otherwise miss. Understanding the reasons behind certain “outlier” data, such as hotel guests choosing unusually long stays, can reveal new business opportunities.
Please look forward to the next article. Melanie Rosenkwag presents a compelling case study that showcases data as a catalyst for innovation, both in boutique hotels and beyond.
The third article to follow will delve deeper into how AI opens up new opportunities for non-programmers to enter the data analysis matrix, highlighting its inherent risks, limitations, and ethical challenges. .
Main image credit: Atto
