Essay on Analytics Analysis : The Luxury Hotel Industry

Essay on Analytics Analysis : The Luxury Hotel Industry

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Analytics are extensive use of data statistical and quantitative analytics, explanatory and predictive models and fact based management together drive decisions and actions. Analytics are set of technologies and processes that use data to understand business performance which leads to the efficient execution and smart business decisions.







HILTON WORLDWIDE AND CAPABILITIES TO COMPETE ON ANALYTICS
The luxury hotel industry has become a significant segment of the general hospitality industry and is undergoing expeditious expansions. Hilton’s goal is to create value for its constituents, customers, owners and shareholders, employees, strategic partners, and the communities where each hotel is located-by delivering a consistent value proposition.
Analytics helps organizations make better decisions and enables optimization of key business processes. But, competing on analytics is not a onetime activity. It is a process that often takes years. It starts with the CEO’s commitment and involves building the necessary enterprise-wide infrastructure, analytical skills, and culture. When done successfully, competing on analytics creates value and strategic advantage. More companies are now choosing to compete based on analytics because analytical decisions are more often correct than decisions derived from intuition. The technologies provide marketers a broad perspective on market situation and current need of the customers.
Hilton is a leading global hospitality company, comprising more than 4,700 managed, franchised, owned and leased hotels and timeshare properties with over 775,000 rooms in 104 countries and territories. The company also manages an award-winning customer loyalty program Hilton Honors. Hilton Honors members w...


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...owerful and valuable service also it helps to get the maximum competitive advantage.








CONCLUSION

To attain magnificent results in your business through Competing on Analytics, it is necessary to define organization’s core competencies that exactly best fits and describes the corresponding business. To analyze the business strategies, it is important to have in depth knowledge of large amounts of high-quality data, its parameters and working process. The company must remember that the adoption of analytical approach to business requires changes in culture and process. Finally, I would like to say that analytics is the companies’ ability to consistently outperform its peer’s and sustain its competitive advantage. Hilton worldwide has successfully adopted these analytical strategies in business and hence they are one of the market leaders in global market.

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