Thick Data or Big Data? If the two had to arm wrestle, who would win? The truth is, it depends on the situation and the application. What could put one over the top?
Thick data, or customer insights, have driven decision making in Hospitality from the beginning. Big data is the ascendant technology – and it’s coming to the industry in a major way. According to Boutique Hotelier, Revenue Management, Dashboards & Reports, and Marketing Communications all stand to benefit from the Big Data revolution.
In 2019, the continued spread of Big Data technologies will allow even niche and boutique hotels to tap into the power of harnessing previously disparate data sets into insights engines.
Imagine micro customization of guest experience and offerings, based on their preferences, preferences of similar customers and predictive AI. The marriage of these technologies will not only improve the guest satisfaction, but create moments of surprise and delight, easily shareable on social media. Further, revenues can increase in a multitude of ways, merely by offering more of what guests want based on these insights.
The days of Thick Data are by no means gone, and are actually even more important than ever. However, having a base of Big Data informing decision-making can, if harnessed properly, allow hotels to hit the Hospitality sweet spot – happier guests, spending more money, telling others about their awesome experiences – hello Social Media – leading to more bookings, and happier guests and so forth.
The ripples generated by this will undoubtedly take some time to fully process. However, the potential of Big Data cannot be ignored and 2019 is the year to begin to truly leverage it.
So there’s no need to fight when you can instead break out your Happy Dance!