Recent findings from a Forbes Insights and Teradata data-driven marketing study cite that 45% of executives fully leverage data to measure ROI. The challenge for hotel enterprise marketers is to determine how to best use data and analytics to understand, target, and win over guests!

What is data-driven marketing in hospitality? It is the process of collecting and connecting online guest data with traditional offline data, analyzing and gaining cross-channel insights about guests, and then bringing that insight to market via various marketing campaigns and efforts. “Big data” is one of the common industry buzzwords referring to extremely large data sets analyzed digitally to reveal guest patterns, trends, and habits in order to help predict future behaviors.

When used strategically, big data can and should drive decision making and help hotel enterprises gain a competitive advantage. Are you putting big data to use for your hotel operation in the following key ways?

Optimizing revenue. Hotels who use data analytics with the help of SkyTouch’s rate management features establish optimal room pricing in order to fill more rooms at higher rates. The data is analyzed in order to determine prices that will drive the highest occupancy. A data-driven approach can significantly compliment strategic revenue management.

Enhancing customer service. Using data to identify customer needs and wants during the guest stay would appear to be a no-brainer. Hotels routinely wow guests by offering personalized services and amenities after check-in. However, hotels must also be savvy enough to recognize that they can lure potential new customers even before check-in by utilizing data to appeal to their interests in order to incite them to book. The SkyTouch Hotel OS offers features and functionality that help hotels deliver superior guest experience.

Amping up the decision-making process. Hotel enterprises can speed-up the decision making process by referencing data when making key decisions. Nearly 60% of the Forbes & Teradata study respondents cited speed as a benefit of using data in making decisions within their enterprises.

Shaving data storage costs. Utilizing the cloud to store and access customer data offers a major cost-savings for hotel enterprises. Through its cloud-based hotel management platform, SkyTouch Technology saves hotel enterprises money (and headaches) by shouldering the monitoring and maintenance of equipment and trimming excessive IT hardware costs (up to a 72% reduction)! Its Hotel OS® platform also provides hotel operators with real-time analytics and financials so they can better target and serve customers.

Turning Marketing and IT into strategic partners. The move toward data-driven marketing also helps propel the notion that marketing and IT should be strategic partners within enterprises. In fact, this was identified as a priority by 84% of the companies surveyed by Forbes Insights and Teradata.

SkyTouch will continue to monitor innovations in technology that will no doubt continue to shape and enhance the ways in which enterprises gather their data in the digital age to boost ROI. Take a look at our newest features here SkyTouch Hotel OS newest features to enhance operational performance and guest experience.