I believe that “Business Intelligence” will become a “buzzword” in the hospitality industry within the next few years. We are able to see this beginning to happen already, as some systems suppliers have begun to bring in early business intelligence (or “B.I.”) features to their product offerings. Yet in my experience, most in the hotel business don’t yet have a feel for what business cleverness is or why it is worth their attention.
As a career hotelier myself, I first became aware of BI about 8 years back, and this has already established a profound effect on just how that I’ve approached the hotel business – and my career – since. It’s time to have a hint from other industries. Business intelligence is widely used in many of the world’s top sectors – including banking, automotive and retail – yet within the hotel industry, BI is notably limited (not totally absent, but comparatively under-utilized). And further, from what I’ve seen in our industry, the BI that does exist largely acts the exclusive purposes of enterprise-level projects. What we are in need of in the hotel industry is a movement to operationalize business intelligence.
How can we foster knowledge of BI within the hotel business as a whole, and get BI into the tactile hands of decision-makers in any way levels? How can we broaden the utilization within our corporate offices, placing business intelligence into a central role as an indispensable part of the day-to-day life of a hotel business executive? And how can hotel-level decision-makers, from the GM down, utilize BI as a matter of practice to perform a far more profitable hotel? This will all start because so many things do, with a few curious and brave pioneers looking for a much better way. In fact, the shift toward hotel business intelligence has recently begun.
And there you have it! We find that the stock market reacted efficiently to the news also, with the Reuters headline providing simply a two-minute warning to investors to sell stocks. Like a noise-driven event however, we think that this drop in stock prices represents a short-term buying opportunity, as we find that all such news-driven noise events in the stock markets have expiration dates.
Stocks have pitched lower within the last 10 minutes, with no obvious catalyst. It appears like they were looking in the wrong place! Update 28 January 2010: The buying opportunity existed briefly from Friday, 22 January 2010 through Tuesday, 26 January 2010 (such is the type of sound). The market has bigger concerns given that oil-producer Valero has acted to cut its dividend, while tech stocks and shares are being hammered with Motorola’s small profit on poor sales suggesting that the industry might underperform buyer objectives. We’ll need to see how things look after the dirt clears on the dividend part to know the way the fundamental driver for the market has been affected, but right now, it appears nearly the same as sound.
- Best brewery/distillery experience: Guiness, Dublin, Ireland
- Business Associations I
- Warehousing Companies
- Swapping contact information digitally is impersonal
- Learn From Others
- Oversight organizational culture and governance, risk management
- Providing initial reduction reserves
- Small Business Clinic II
Welcome to this special Saturday, Janaury 23, 2009 model of In the Moneyed Midways, where each week, we present the best articles we found in our review of the past week’s business and money-related blog carnivals! So let’s just get right to it, shall we? The week that was The very best articles of, like the Best Post of the Week, Anywhere!
OMM: THE VERY BEST Posts of 2009 and our full index for the entire year! OMM’s Running Index for 2008 OMM’s Running Index for 2007 THE VERY BEST Blogs Found in 2006 (and our full 2006 index)! January 2008 Since, we’ve now offered some 55 content where we’ve made 63 specific predictions, mostly having to do with the currency markets but within the path of the U also.S. But are we really worthwhile at making predictions?
The cool thing concerning this strategy is that if our predictive capability is no much better than the random outcome determined by a coin toss, our plus-minus rating shall drift toward a value of zero as time passes. If we’re better at making predictions than simple randomness indicate, our plus-minus rating will grow higher in value as time passes then.
If we’re incorrect, then our plus-minus score will fall in value. If we’re really bad, our plus-minus score will plunge into deep negative territory then! Just how did we do within the last 90 days since our last update? Plus-Minus for Predictions – 16 April 2009 Our Plus-Minus Is Now Seventeen! We next scaled the map of the E.U.
United States, plus or minus a pixel or so, to create the mixed side-by-side map below. All just to better visualize the relative level of living standards between specific U.S. Since we submitted the data publicly on ManyEyes, it’s available so that you can create your own visualizations. If you do, please drop us a line and we’ll be happy to feature your projects here!