Business Intelligence - What is it?

When it comes to data analysis, the word 'business intelligence' is often used. But what actually conceals this concept?

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in general, Business Intelligence (BI) is a set of applications or technologies that enable you to capture, store and analyze business data and business processes. Business intelligence is designed to enabel companies to make better business decisions.

As far as the theory and general approach. Now I would like to take a closer look at the whole thing, specifically for hotels.

For some time, tourism has moved to online life, bookings are made online and reviews are given. As a hotel manager, this creates challenges that you all know:

different booking portals must be edited, you have to keep the customer reviews in view and so on. And that was only the hotel, then there is also the competition, which one must keep in mind. So lots of data you need to collect, manage and analyze. This all takes a lot of time and most often you will find that you spend more time collecting and managing the data than actually using it.

And this is where business intelligence applications come in, which make it easier for you.

On the way to our goal to develop a revenue mangement software, which offers intelligent price recommendations, a tool has been created that takes you a lot of the work described. The most important data about your hotel, such as occupancy, revenue or even ratings, are summarized in an application. Instead of spending a lot of time collecting the data, hotel managers can concentrate on interpreting the data and making decistions based on it.

If you want to read more about business intelligence and the use of Big Data, take a look at our eBooks on the subject.

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