How Centralizing Data Helps You Achieve “Big Data” Insights at the Portfolio Level

Jacki Schroder

Improve Your Group Sales & Event Management Process with Data

It seems like everywhere you look, people are talking about “big data.” While it may feel like a buzz term right now (because it is), the concept is actually pretty powerful and not only that, it’s also becoming more and more possible. According to SAS, “Big data is a term that describes the large volume of data – both structured and unstructured – that inundates a business on a day-to-day basis. But it’s not the amount of data that’s important. It’s what organizations do with the data that matters. Big data can be analyzed for insights that lead to better decisions and strategic business moves.”

One of the most significant components associated with “big data” is the centralization of information into one common repository. There are two main types of centralization to consider for hotels.

  1. System Centralization: Data stored in your operational software solutions are more likely to integrate than ever before. Cloud-based systems and APIs allow the hospitality world to connect, even among competition. The integrations may come at a cost, but as we describe below, the benefits far outweigh the price tag.
  2. Property Centralization: Portfolios are common, whether at the chain level or at management companies, large and small. Increased insight across properties will provide a significant amount of additional context for decision-making purposes.

 

Benefits of Centralization

In an ideal world, your organization would have centralization of data across both systems and properties to obtain the most understanding and value, particularly within group business. Trisha Olach, Assistant Director of Sales at Boyne Michigan shared how onboarding Amadeus Sales & Event Management Advanced (Delphi.fdc) helped her team gain holistic insights and adopt a new approach.

 

Increase Sales

By integrating your systems – sales and catering, PMS, CRS, operations – you’ll have more information readily available on each group customer. You can improve your customer relationship management through integrated accounts, contact information, and preferences saved. You’ll have far more data to provide a stellar guest experience.

Think about how that data will be beneficial if a person or group chooses to book a sister property. All the information the teams need is already in your customer relationship management solution – accessible to your entire team, no matter where they sit. Your customer’s preferences can be addressed before they even think to ask.

By centralizing data across your properties, you’ll have access to see the top customers across your entire portfolio and make strategic decisions about proactively pitching future events. And don’t forget about the new cross-sell opportunities that have opened up. Should one of your properties be previously booked for the date in an RFP, you can easily see availability for your other properties to determine who can accommodate the lead. This value makes your responses stronger and is more likely to keep the lead within your portfolio.

 

Save Time

Sharing information with other departments takes time and so does rekeying it between systems.  If you currently have a sales and catering solution that isn’t integrated into your property management system, someone may be spending an awful lot of time communicating your guestroom block details. Maybe you are used to it by now, but a world exists where you can get real-time availability, create a room block, and receive group pick up, within your sales and catering solution.

Without centralized data across properties, it will be difficult to see if more than one of your properties has received the same RFP. With RFP automation, meeting planners are submitting RFPs to more locations than ever before, with just the click of a button. With such a large influx of requests, it is possible you are bidding against yourself and even driving prices down. With visibility, your team can collaborate on a comprehensive response covering all spaces that are available with the option to cross-sell.

 

Increase Insights

Your group business no longer needs to be a separate entity from your transient business. You can better track inventory, profit, margin, and revenue for one or multiple properties by integrating your systems. Rather than logging into multiple systems and spending a significant amount of time to piece together the information, you can have those details calculated for you in visually appealing dashboards.

As Trisha Olach mentions in the above video, centralizing data across multiple properties provided her team a whole new lens through which to view the business. Each of the properties now uses common metrics and numbers that can be used for comparison. While this may sound a little daunting to team members at first, this insight helps management make decisions about where to invest resources, training, and even their own time, now that they can accurately compare performance.

With centralization across both systems and properties, dashboards and automated reports can be generated to show insights for at-a-glance and in-depth analysis, enabling filtering by property, region, or salesperson.

 

If centralized data (or “big data”) sounds exciting to you, check out Amadeus Sales & Event Management Advanced (Delphi.fdc) with multi-property view and integrations to your PMS, digital signage, and more. Click the button below to contact an Amadeus sales representative for more information.

 

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