Big Data - Challenges for the Hospitality Industry: 2nd Edition

By Michael Toedt

Hotel companies who are able to deal with Big Data will create a sustainable competitive advantage. But what is Big Data and how can we use it in the Hospitality Industry? What is the distinctive value and what are key areas for a successful implementation? Michael Toedt explains in this book the biggest hurdle – the lack of knowledge within the senior management and the willingness to implement the necessary changes – and gives hoteliers recommendations to avoid the main failures.

• Language: English
• Publisher: epubli
• Release date: Dec 12, 2013
• ISBN: 9783844275933

Book preview

Big Data

Challenges for the

Hospitality Industry

Michael Toedt

2nd Edition

ISBN 978-3-8442-7593-3

Copyright © 2013 Michael Toedt.

All rights reserved

1st Edition April 2013

2nd Edition December 2013

by Toedt, Dr. Selk & Coll. GmbH, Munich, Germany

Text © Michael Toedt

Coverdesign: Karin Toedt

Published by epubli GmbH, Berlin, www.epubli.de

Limit of Liability/Disclaimer of Warranty: This book is designed to provide information and motivation to our readers. The publisher does not intend to render any type of psychological, legal, or any other kind of professional advice. The content of each article is the sole expression and opinion of the author, and not necessarily that of the publisher. No warranties or guarantees are given by the publisher’s choice to include any of the content in this volume. Neither the publisher nor the individual author(s) shall be liable for any physical, psychological, emotional, financial, or commercial damages, including, but not limited to, special, incidental, consequential or other damages. Our views and rights are the same: You are responsible for your own choices, actions, and results.

CONTENT

Abstract

1. Introduction

1.1. The Increasing Amount of Data

1.2. From Data to Knowledge or from Big Data to Big Insight

2. Big Data in the Hotel Industry

2.1. Pregnant Without Knowing

2.2. Data throughout the Customer Journey

2.3. The Reality

3. Changes Required

3.1. Changes within the Organizational Structure

3.2. The Central Data Ware House - The Heart of Big Data

3.3. IT Investments

3.4. Big Data and Customer Relationship Marketing (CRM)

4. Conclusion

Literature

Index

About the Author

About Toedt, Dr. Selk & Coll.

Further Publications

FIGURES

Figure 1: Search for Big Data on Google

Figure 2: Growth of Data Volume by the Year 2020

Figure 3: From Data to Knowledge (own image)

Figure 4: The Hotel Customer Journey

Figure 5: Tagging Function in the CRM Software dailypoint™

Figure 6: Areas affected by Big Data

Figure 7: Big Data Changes in Organizational Structure

Figure 8: Increase of Data in the Next Years

Figure 9: Big Data IT Architecture (own image)

Figure 10: Hotel Software Map

Figure 11: List of different IT-Systems

Figure 12: Prerequisites for CRM

Abstract

The Power of Big Data and its Influence on Daily Business

Customer Data is the salt of our modern times.

In medieval times, merchants in the Mediterranean accumulated extreme wealth by