Data collection has become an essential facet of business management. However, the use of data is more important than the value of the data. As such, transforming the information into an added plus to the decision making process is key through correct interpretation. This is known as Business Intelligence.
BUSINESS INTELLIGENCE FROM A TECHNOLOGICAL VIEWPOINT
If you want to understand Business Intelligence from a technological viewpoint then you must think of data analysis as a collection of technological solutions and tools that will enable you to obtain information as well as refine it and turn it into practical knowledge, with the basic pillars of this process remaining defined as follows:
- Observing what is happening and comparing what is happening with what has occurred during previous periods using internal variables as well as those from the macro- and micro-environment.
- Understanding why things happen in a certain way.
- Refining the information obtained with the aim of trying to predict market behaviours (demand and ComSet).
- Making decisions adapted to the market.
Consequently, it can be said that the solutions and tools that only enable you to gather and store information are not currently valid, as business models associated with the emergence of the Internet in daily life demand technology that allows this information to be structured and interpreted, optimising results.
This is the case with the booking engine we have developed at Paraty Tech. We integrated an online Business Intelligence Analyzer, the motto of which is the continuous improvement of its functions, adapting to and staying ahead of the changes that currently affect the hotel sector.
DATA. WHERE AM I?
This tool, designed with the latest technology from Data Seekers, our technological nerve centre, calculates essential ratios to understand your hotel’s current situation.
The day and time you choose to access it are not important because you can always consult your conversion rate, number of bookings accumulated, average price, average duration of stay or cancellations for the month in progress or any other month that may be of interest.
COMPARISONS. WHERE WAS I?
“What there is, what there was and how it was closed”
This data is compared automatically with the results obtained in the same month of the previous year. As a result, you can check the positioning of your establishment in relation to the previous season.
Here, the interesting aspect is the retrospective viewpoint highly comprehensive information provides, as you can compare the accumulated total on the date of your consultation in addition to information related to the close of the month.
If you want to consult your sales history, this isn’t a problem either. Our Business Intelligence Analyzer automatically offers you annual sales, while also establishing a comparison between the sales accumulated during the year in progress and those accumulated in the previous year.
RESERVATIONS ON THE BOOKS
“Establishing differences with previous results”
OTBs or Reservations on the books are the bookings a hotel has made for a specific period.
This information can be viewed either for the month in progress of for the same month in the previous year. Like the previous sections, you can select a month different to the month in progress depending on the data you wish to obtain.
This option is complemented by a negative and positive top list of the bookings made.
THE POWER OF ADDED VALUE. How to interpret results
“Understanding what’s happening”
The tool is completed with a series of variables that will help you understand what is happening and what commercial actions are really working.
Consult the rooms that have been booked most often, the promotions that have had most success, the most popular rates, the countries where you have greater fame, the most popular board plans, and find out what device your client uses to start the purchase process (this is a default option that means you won’t have to perform unnecessary searches).
You can also choose how you wish to view data: as a table or as a graph?
“The importance of staying ahead of demand”
As we want to make everything simple, here at Paraty Tech we back simplicity and usability.
We have converted our Business Intelligence tool into an interactive online solution, without compromising the design. Now it is possible to check what’s happening with your bookings at any time, establishing comparisons without waiting times.
You choose when and how: from your computer screen or in PDF format; in an Excel spreadsheet or as a graph; for the month in progress or for previous periods; annual accumulated sales or monthly accumulated sales.
We offer you all the information you need to stay ahead of demand and adapt your marketing processes to the needs of your clients.
You can contact us 24/7/365.