Data management and Business Intelligence for hotel chains

 What is a data point?

A piece of data is an objective representation of a fact or a condition, and any activity or lack of activity generates it.

It can take various formats, such as a number, a word, a symbol, a record, or a bit.

On its own, it has no value and lacks complete meaning; it gains value when interpreted within a context and becomes significant when linked to a decision or action.

Putting data into context means relating it to other data, such as the environment, situation, or the moment in which it occurred.

The interpretation of contextualized data creates useful information that contributes to a broader and deeper vision of reality.

Quality over quantity

At first glance, a greater amount of data would seem to correspond to greater clarity about the situation; however, this relationship can become inversely proportional when excess information creates noise, is irrelevant, distorts perception, or introduces incorrect values.

To reduce misunderstandings and increase the chances of interpreting data correctly, the first step of an analysis is to set the intention and define questions or hypotheses.

Then the data is selected, cleaned, and organized.

In the process of analysis and interpretation, what matters is the relevance and quality of the data, because an accurate representation supports critical thinking and helpts to compare perspectives and avoid bias and misunderstandings.

The greater the diversity/variety of relevant data, the broader and deeper the view of reality.

It is in statistics that volume matters, because the larger the samples, the better the results.

Strategic assets

Data exists in different formats and can be found anywhere, in any place, system, or medium such as a database, software, a form, a file, an API, a sensor, an IoT device, or a digitized physical document, and what it usually needs is to be extracted and transformed.

It is considered a strategic asset because it constitutes a critical resource for informed decision-making, operational optimization, and innovation.

Its exploitation is represented by the data economy, where data capitalization is carried out through direct monetization models ( for example, selling aggregated and anonymized data or analytics and insight services ) and indirect monetization ( for example, using data to optimize operations, create new products or services, and improve or personalize existing ones ).

Consequently, end-to-end data management, which includes capturing, integrating, organizing, storing, and visualizing data, conditions data capitalization, and can be a competitive advantage for the organization.

Value

In the HoReCa sector, data management can help improve both internal operations and customer service, as well as monitor the property's situation and uphold quality standards.

Hotel chains have the advantage of being able to collect large volumes of information from multiple locations.

Thanks to the diversity/variety of relevant data they can provide and the volume of samples, they have broad possibilities and opportunities for data capitalization in both direct and indirect monetization models.

At Luini Creations we help hotel chains strengthen the data area to facilitate information management, business analysis, and decision-making, through modular custom B2B software development solutions.

If you're interested in our services or would like to request information,  please contact us.

We would like to hear about your current challenges.