Data Management in the Hospitality Industry: Tips and Tricks
Data management is an important facet of business operations across several industries. In this article, however, our focus will be on the hospitality sector. We’ll talk about the best practices for data management in hotels, restaurants, and similar businesses.
- Use a Customer Data Management Platform
Hospitality businesses should invest in tech-advanced tools that will make it easier to manage the wealth of information that they have. Among others, one of the perfect examples of this tool is a customer data platform. This will provide a unified system wherein marketers can see online and offline customer data. From website visits to front desk interactions, it provides information that the business can use in improving its marketing initiatives.
If you are looking for a customer data platform that can be effective in the hospitality industry, Lytics is one option that should make it on your list.
- Pay Attention to Data Security
It is undeniable that the hospitality industry is data-driven. With this, pay attention to data security. There should be appropriate measures in place to protect the information your business holds. For instance, a lot of hotel and restaurant guests pay using their credit cards. The business has the responsibility to make sure that these transactions are secure. Otherwise, personal information of the customers can be compromised, and their credit card information can be used in fraudulent activities.
- Know What to Collect
Learn to prioritize data. Identify what is important and what should be least amongst your priorities. For hotels, guest data, housekeeping data, and pricing history are some of the most important. One of the most important principles of data management to apply is to collect only what is necessary. This will also help in minimizing the vulnerability of the business against data disasters.
- Appoint a Key Personnel
Especially for large hospitality businesses, it is crucial to have key personnel to manage data. Hire people with expertise and experience in data management. These people will map out a comprehensive plan, including a data recovery plan in case the worst happens. That person will also be responsible for providing recommendations on what can be done to improve the use of data within an organization.
- Make it Compliant
Compliance is an important aspect that you should not ignore. Depending on the state or the country where the hospitality business operates, certain compliance requirements need to be met. One of the most important is the General Data Protection Regulation, which outlines the obligations of the businesses when it comes to collecting and using data from their customers. The failure to meet the compliance requirements can result in hefty fines and other problems.
Data is a powerful asset in the hospitality industry. With this, hotels and other hospitality businesses should have a robust approach to data management. This will ensure the integrity of data that they have, protection from cyber threats, and compliance with the existing laws, among other things.