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Investing in Analytics – A HEDNA Working Group’s journey to help Hoteliers user their Data

HEDNA Analytics WPOver the past couple of years, I’ve been privileged to Co-chair the HEDNA Hotel Analytics Working Group, alongside industry experts Josh Galun of Excella and Nitin Bajaj of NTTData. Working Groups are at the heart of HEDNA’s collaboration ethos and bring together hoteliers and technologists to address some of the challenges the industry faces and come up with solutions. The focus of the Analytics Working Group is on how distribution data can be better gathered, analysed and used to optimise distribution. Working alongside hoteliers and industry specialists in spearheading the Analytics Group’s 3-phase work programme has proved to be an enriching and rewarding experience.

Analytics Work Group Roadmap

Phase 1 established the current landscape collection and use of distribution data which was reported in the Findings of an in-depth survey. Phase 2 is dedicated to the challenges of building out analytic capabilities across a hotel company. During group discussions it became clear that there are a number of critical dependencies that need to be considered and got right for any investment to be successful and represent value. From the PMS, CRS and direct website to third-party data providers, hoteliers have access to more market and customer data than ever before. This phase has culminated in the publication of our latest white paper “Investing in Hotel Analytics” which outlines the key priorities that should be considered before making investment decisions. Phase 3 will conclude the programme by establishing some industry best practices.

Today’s Deliverable — Investing for Analytic Success

Being able to get the right data and analysis to support decisions is a differentiator. With analytics, hotel companies can achieve new levels of precision in their distribution channel mix to optimize occupancy, rate and profits. While the value in analytics is recognized, many hoteliers are unsure how to make the most of their data. Investment in platforms, tools and skills is required that companies may not have experience in. Every hotel company is different, so there is no one size fits all, but this paper explains the key considerations for taking a data vision to reality, with some practical advice.

The Group provides an insightful look into a whole range of critical factors when adopting and developing analytic capabilities. From defining what analytics means, to considering how to achieve essential data integration and data quality, and discussing thoughts on the skills, processes and tools needed, this white paper offers some valuable advice and hands-on guidance for hotel companies both large and small.

The document is designed to be a useful resource for hoteliers wishing to invest in strengthening their analytic competence in distribution. You can read a brief synopsis of the paper or download the full 33 page report, both from the HEDNA website.

Next Steps

Phase 3 of the Work Group programme, kicking off shortly, will identify and document industry best practice and recommendations in collecting, analyzing, storing and using distribution data in hotel operations. Collaboration will be key, so a series of hotelier consultations are planned with the output released in a series of themed articles prior to a final compilation.

How you can find out more and get involved

I will be attending the HEDNA Distribution Conference in Madrid 20-22 May alongside other Group members. If attending, let’s arrange to meet.

An industry webinar presenting some of the challenges and suggestions to investment decision-making together with some use case examples will be held by the Group this summer.  More details to follow.

HEDNA’s Hotel Analytics Working Group is Co-chaired by data and technology specialists from Triometric, Excella and NTTdata.   Our success is based on collaboration and we are always keen to welcome new members and contributors, so if you are a hotelier or a vendor and you would like to share your best practice experience, please get in touch.

 

 

 

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