The hotel and restaurant industry in the age of Business Intelligence
The transformation that the hotel and restaurant sector is undergoing in relation to digital technology is leading to a profound change in the way it manages its strategies and organisation. With the development and use of new software and innovative tools, particularly in the management of schedules and HR, in training or in customer follow-up, it is becoming essential to know how to make good use of this new data flow. The question of Business Intelligence, or the art of integrating and organising all this data to optimise the operation of your establishment, is becoming central today, and all the more so for independent hoteliers or restaurateurs.
Exhibitors specialising in Business Intelligence
Meet them at Food Hotel Tech, the innovation exhibition dedicated to the hotel and restaurant industry
June 7-8, 2022 • Paris Event Center
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Business Intelligence in the hotel and restaurant industry
Business Intelligence for the hotel and restaurant sector
Behind this notion, which may seem complex, Business Intelligence is in fact an innovative way of processing the internal and external data of an establishment, with the aim of optimising decision making and operational functioning. By centralising the various data, for example on customers, on their new behaviours, on the evolution of your activity, but also on your teams and their performance, Business Intelligence offers an overview to set the most relevant objectives by crossing this data. The hotel and restaurant sectors are areas in which this information management is crucial, and requires the use of specific tools.
Performance management platforms
Business intelligence solutions can take the form of management platforms, set up by tech companies, which have specialised their tools for the hotel industry in particular. Any type of data can thus be collected, then cross-referenced and reprocessed according to relevant priorities. This processing allows you to obtain decisive data on your activity, such as the analysis of your customers' buying or booking behaviour, or the supervision of security or alarm systems. These innovative solutions will also enable you to obtain recommendations and best practices to implement to improve your operations or your turnover.
Business Intelligence to predict your business
All this data collected is also intended to help in decision-making. Innovative companies have thus implemented predictive analysis solutions thanks to Business Intelligence. The idea is simple, it aims to offer your establishment business forecasts by crossing numerous data, such as dates, weather or your type of seasonality. It is then much easier to manage the organisation of your teams and your stock in an adapted way, in order to prepare well in advance for the increased phases of activity. In addition to these predicted occupancy rates, the analysis of data flows also allows you to set up an automation of your supplies according to these predictions.
Facilitating the day-to-day management of hotels and restaurants
Business Intelligence is also used in more common areas of day-to-day operational management, with solutions designed to simplify it. This applies, for example, to the whole area of invoicing and supplier management, which can be completely centralised on a single platform, offered by specialised and experienced companies in the sector. In addition to simplifying the payment and monitoring of invoices via a platform, these solutions also provide a better overview with access to daily dashboards. These innovative tools include real-time cash flow monitoring, for example, or the monitoring of key indicators, such as the proper functioning of buildings and equipment.
The Food Hotel Tech exhibition is the best place to learn about these new tools, which will enable your hotel or restaurant to become more profitable by cross-referencing relevant data. Business Intelligence is one of the hottest areas for tech companies to develop solutions for your industry to better set goals, better manage your business, and make day-to-day operations easier.