Big Data and the Need for a Data Strategy
Big data. We’ve all heard and talked about it. Big data is a major component of every industry and hospitality is not an exception. Knowing how to recognize and utilize big data to your company’s advantage unlocks great amounts of power. However, having access to data is one thing, but to maximize big data, it needs to be actionable and clearly defined in a detailed data strategy.
Take children for example – we all have been a child and many of us have raised one. Let’s use a metaphor of a child playing in a room and when you arrive, it’s a complete mess with toys, books, and clothing everywhere.You immediately start thinking of how to clean up the mess into an organized state. This is how many of today’s data points look if they’re not structured properly and well managed. Without organization of any form, big data is one gigantic room with data points scattered around and thrown everywhere – it’s a big data problem and it’s time to clean up.
Big Data Problem
There are many reasons for data problems to occur, but one of the biggest ones is simply from low maturity and low value of treating the data. While big data has been around for quite some time now, the hospitality industry is still at a low level of maturity in comparison to other industries when handling data. The combination of silos between systems and technologies, large amounts of unstructured data, and legacy systems, hinders the hospitality industry from advancing and taking advantage of this valuable resource and deploying big data management. In order to resolve these barriers, companies must endure high integration costs, as well as allocate additional resources, money and time which could be spent on other important matters.
This article originally appeared on HospitalityNet.org. To read the full article, click here.
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