Big data can solve some of the key challenges faced by the hospitality industry and help them to increase a loyal customer base. By Titir Pal and Nanak Banerjee
For hospitality industry, big data has the potential to become a game changer. Today a lot of players in this space are struggling to increase customer loyalty, customer engagement, convert bookings from online travel agencies (OTAs) to direct channel, increase incidental revenue per customer. For all of the above challenges, there is data, tools, techniques and solutions available to solve them. The challenge is to identify the right approach that will work and will be easily adapted across departments. A lot of key players have moved in early to build big data capabilities but are still struggling to use big data in the right way to solve for their key challenges.