As most of us have already heard, 90% of the world's data was created in the last ten years, and the amount of data created grows at a faster rate every year. The hotel industry is far from immune, with the various sources of business intelligence available today having exploded from the days when a few large Excel files and a weekly STR report was enough to get every Revenue Manager labeled a nerd.

The successful Revenue Manager today has transitioned from the historical "geek who can speak" to a skilled "data-driven storyteller." Many experts recognize that to use data effectively in this environment, the decision which data NOT to analyze is often the most important one.

So, considering all of this we asked our expert panel: How do you avoid the fine line between data-driven decision making and analysis paralysis?

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Ira  Vouk
Ira Vouk
Hospitality Technology and Revenue Management consultant
Raul Moronta
Raul Moronta
CRME, CHIA, Chief Commercial Officer at Remington Hospitality

The purpose of gathering and analyzing information is to produce a strategic course of action which changes or improves our desired outcome. Our goal is to reduce the time between data gathering and formulating and implementing actionable outcomes, or what I refer to as analytics efficiency.

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Bill Daviau
Bill Daviau
VP of Strategic Accounts & Partnerships, Lighthouse
Vassilis Syropoulos
Vassilis Syropoulos
CEO and Head of Product - JUYO ANALYTICS

Related article by Vassilis Syropoulos

Max Starkov
Max Starkov
Hospitality & Online Travel Tech Consultant

Related article by Max Starkov

Timothy Wiersma
Timothy Wiersma
Principal | Revenue Generation, LLC.
Trevor Stuart-Hill
Trevor Stuart-Hill
Founder and president of Revenue Matters
Silvia Cantarella
Silvia Cantarella
Revenue Management Expert and founder at Revenue Acrobats
Niki Van den Broeck
Niki Van den Broeck
Product Manager Parity Insight and Rate Insight

Related article by Niki Van den Broeck

Klaus  Kohlmayr
Klaus Kohlmayr
Chief Evangelist and Development Officer, IDeaS

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Alex Macoun
Alex Macoun
Chief of Strategic Operations at SiteMinder

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This World Panel Viewpoint is sponsored by Cendyn™
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