Application of Advanced Analytics for the Hospitality Industry

Through machine learning, digital intelligence and text analytics you can better align strategic initiatives.

In an increasingly digital world, consumers are expecting personalized experiences. This is especially true for the hospitality industry. Guests expect superior service and will look elsewhere if they don’t receive it. With review sites like TripAdvisor and Yelp, you might even lose more than one customer after a bad experience. However, by using advanced analytics like machine learning, digital intelligence, and text analytics, you can gain a better understanding of your guests and improve their experience.

Text Analytics

This has become widespread in use after social media. Text analytics is able to capture the content of unstructured text documents that are created internally on guest surveys or calls logs, and those created externally on social sites like Facebook and TripAdvisor. Using content categorization, text mining, and sentiment analysis you can understand guest behavior and learn how they feel about your brand and service. However, due to the size of text data, it requires a large amount of processing power to quantify and analyze. Through algorithms and analytics, you can better understand customers.

Machine Learning

This started as an arm of artificial intelligence but now refers to algorithms that are developed on test data and then deployed on a new set of data. Algorithms learn new data and can easily and quickly perform analysis on it, even adjusting to new patterns. With machine learning, you can analyze massive chunks of guest data without writing new codes or adjusting old codes. This is related to data mining, but machine learning actually uses known relationships to predict new relationships in strings of data. In the hospitality industry, machine learning is commonly used for website analytics and segmentation analysis.

Digital Intelligence

This is the process of capturing key insights from digital interactions. Throughout your guest journey, data is collected every step of the way. The information from online, offline and third-party sources are then combined and analyzed. Integrating this data can be more difficult. This is due to the fact that the data is typically in non-traditional format and is not always analytics-ready. However, with advanced analytics, marketing departments can integrate digital intelligence with guest profiles to create predictive modeling that enables personalized content delivery when guests are on and off the property.

Interested in utilizing consumer data for your business?

With the intensely competitive market, it is essential for the hospitality industry to understand guests and improve operations in order to better their experiences. Since 0, MyFieldAudits has been assisting the hospitality industry in gathering and analyzing guest data. Our easy-to-use cloud-based analytics tool can run on any device, meaning you can access data from anywhere. There is no need for large servers or complex algorithms. With MyFieldAudits, you can easily get a better understanding of your guests and optimize strategies in order to improve your ROI.

To learn more, please contact us today at info@MyFieldAudits.com to receive a free demo.