Tipping from data-driven decision-making into analysis paralysis is common, but not unavoidable. As Scott’s original post says, having a strong filter on what NOT to analyse is important. Here are some other lessons we’ve learned in helping hoteliers navigate the world of data and insights.

DO: Leverage the insights and reporting tools available in your tech. Most platforms and channels provide at least a basic level of insights and trends, and there are lots of guides to help you get started, so you don’t need to start from scratch when building your reporting suite.
DON’T: Rely just on out-of-the-box solutions without thinking about how they apply to your own unique business context. Tools will give you trends and often suggestions on actions to take, but don’t abandon the knowledge you have of your own market, customers and competitive environment, which helps inform why you might be seeing those trends. Always apply a reality/sanity check to the data.

DO: Stay on the lookout for new data sources to layer into your existing models. Whether this is third-party market data, competitive intel, or insights from your own metrics, ask yourself: “What else would I like to know?” And seek out sources for that information from existing and new partners.
DON’T: Get lost in new data sources without thinking through how you could make use of them. The mantra we use at SiteMinder, whether for hotel insights or running our business, is “What would I change based on this information?” If the answer is nothing, or nothing that really moves the needle on performance, let it go. You can always come back to it later if things change.

DO: Allow some time for experimentation, curiosity and serendipitous discoveries. One of the advantages of being a Revenue Manager, Analyst or even a small hotelier doing your own analysis after hours, is that you get to be on the front line of learning about what’s changing, and the creative opportunities that grow your business and help to serve your customers better. Sometimes you need to dig around to find those gems of insight, so enjoy it!
DON’T: Follow all the rules too strictly. Once you get the science right, allow space for the art and story-telling of analytics to shine through.