A company’s growth depends on its department, team, and leadership decisions each day. Ordinary organizations make big decisions based on gut feelings, status quo, or incomplete data. Having a data-driven culture helps your organization approach the decision-making process without bias. It will aid your company in finding better solutions faster. Data is one of the biggest assets companies have, but it remains primarily untapped. Governments understand that using that data will improve the speed and efficiency of their services, provide insight into threats, and enhance their ability to respond more quickly to a rapidly changing world. Hotel Tech Report’s article discusses how you can build a data-driven culture in your organization.
Benefits of a Data-Driven Culture
Companies with a data-driven culture can profit in three significant ways:
- Data gives you new insights to help monitor progress and accomplish goals, as well as have a deeper understanding of company performance. You can make decisions more effectively with the aid of facts.
- It facilitates improved communication between teams and employees. Real-time digital sharing makes it easier for teams to share data quickly.
- Creating a data-driven culture should be a deliberate process with the overarching objective of using data to improve decision-making, encourage teamwork, and boost performance.
Expert Views on the Data-Driven Culture
Invest in business intelligence (BI) software that will help you synthesize the data gathered in your project management system (PMS) in as close to real-time as possible. Your PMS has reports conducive to your needs already set up. Furthermore, you can repurpose those reports beyond their original purpose of finding answers and opportunities, explains Cara Gilbert, Revenue Analytics Manager at the Intercontinental New York Times Square. If there is a lag between the actual event and the data on your dashboard, you miss opportunities to make data-driven decisions to improve performance.
Although hotels may be slower than other organizations to welcome data, your employees are likely already handling data in other areas of their lives. HotelIQ’s Sameer Umar summarizes: Data downloads and emailing is a good way to fill people’s days, but it fails to ensure the timely realization of opportunities and threats.
The author also elaborates on creating a culture of collaboration and transparency, data literacy, and making data accessible, reusable, interoperable, and findable.
To read the original article, click on https://hoteltechreport.com/news/data-driven-hotel-culture