Introducing The Hotel Guide to Budgeting Business Intelligence Tools in 2016
nSight’s New eBook Provides Goal-Based Tips for 2016 Budgets
NASHVILLE, TN – September 8, 2015 –nSight, the leader in online consumer shopping intelligence for hotels and destinations, today released its eBook on how hotels should plan and budget for business intelligence tools for the upcoming year in an always-changing consumer environment. The simple tips in this eBook help hoteliers be positioned better to increase bookings in 2016 by understanding and targeting consumers more proactively and more effectively than the competition.
Hotel distribution is more complex today with a growing number of intermediaries between the hotel product and the guest. As a result, hotels have lost their connection with the online traveler to the OTAs. Hotels need to look beyond traditional boundaries of performance and targeting data to get a new forward-looking perspective that reconnects them with consumers.
The eBook explains how hotel business intelligence (BI) requirements have changed in the age of the always-connected traveler, how to align BI budgets with business goals, and the importance of using forward-looking data to achieve future goals.
Hoteliers will learn:
- The Importance of Forward-Looking Data
- How It Differs, Yet Complements Other Data
- Levels of Data Engagement and Pricing
- Taking Action: Demand Forecasting
- Tips for 2016 Budgeting
Hoteliers can click here to download the full eBook.
Budget BI Priorities Based on Hotel Business Goals
Hoteliers should make sure to map data requirements to growth and/or guest acquisition objectives as part of the budgeting process:
- Performance Data: historic key performance indicators or KPI metrics such as ADR, occupancy and RevPAR for you versus your comp set. It’s historic information that allows you to trend behavior for you and your comp set, identifying variances and successes.
- Demand Data: defined as business on the books for past and future dates. This represents unchangeable past consumer behavior that can’t be influenced. It’s data that helps you see pace as it unfolds and will alert you to when you may have issues making goals.
- Future Consumer Travel Intent: new, yet-to-be-booked opportunity that can still be captured through smart marketing and revenue management. Insight on active online consumer geography and demography by arrival date enables hotels to efficiently spend marketing dollars and be positioned with today’s dynamic customers to continually achieve market penetration, OTA share shift and new direct booking goals.
Validate the BI Budget with a Free Trial
To demonstrate the power of consumer shopping data, nSight is offering its Hotel Online Traffic Report in a free 60-day trial. Hotels can directly compare consumers searching and booking their hotel on third parties with consumers searching and booking their own hotel website. The insight helps hotels target consumers they are losing to OTAs and increase direct bookings.
About nSight (www.nsightfortravel.com)
nSight combines the world’s largest view of consumer shopping data with predictive marketing and revenue management solutions to deliver more guests to your hotel and visitors to your destination. Only nSight aggregates more than 85 million travel consumer shops and bookings daily across over 5,000 third-party travel websites. Understanding consumer shopping behavior, rate impact and future market demand enables better marketing and revenue management decisions. Follow us on Twitter, Facebook and LinkedIn.