Data Snaps - How to win the race of technology and innovation

May 31, 2019 Kristina S. Park

They say that “slow and steady wins the race,” but when it comes to technology and innovation, you definitely don’t want to be straggling behind. The hotel industry has been known to be lagging behind other more advanced industries, but if we all know that, then why hasn’t more been done to help the industry catch up to the others?

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 In the lead up to HITEC Minneapolis (which we’ll come back to in a bit), this viewpoint article was published with a collection of opinions from industry leaders on whether or not hotel technology is falling behind other industries with the consensus points to yes. Fortunately, while the industry is lacking in comparison to others, the experts provide their opinions on how to improve the situation and that the technology does exist and is readily available. Once hoteliers begin to change their perception on the value of technology and understand the importance of investing in innovative and advanced hotel technology, the industry has a fair chance in catching up to other industries.

Speaking of things that help improve business and increase industry innovation, integrations between hospitality and technology companies also bring the industry closer together and provide helpful methods of upgrading the industry altogether. Shiji Distribution Solutions and Airbnb have recently announced a strategic partnership, according to this article, that will mutually benefit both companies and their users. Through this integration, Shiji will provide Airbnb with a distribution channel to help expand their presence in China while the increase in inventory will allow Shiji’s clients to reach new markets. Sounds like a win-win deal to me.

 

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Another way for the industry to improve its technology situation, lies in - yes, you guessed it - data, and in turn, business intelligence. As seen in this article, the overall collection of the world’s data will increase to New Call-to-action175 ZB by 2025. That’s one trillion gigabytes multiplied by 175. Basically, there will be a lot of data and hotels with the proper technology will be able to take advantage of the growing number of data points being collected. With more hotels moving to cloud-based solutions, the industry is heading in the right direction, but at a much slower pace than we’d ideally hope for. Business intelligence will lead to improved operations through real-time data, enhanced data analytics on hotel performance, and overall better business decisions.

 

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As promised mentioned earlier, HITEC Minneapolis is just around the corner and we will be attending this year! Come meet us at the Minneapolis Convention Center from June 17 to 20 to learn more about what’s in store for SnapShot in the near future. If you want to arrange a meeting with one of our SnapShot professionals, book an appointment here and we’ll be happy to chat with fellow data enthusiasts about the power of data solutions, or even challenge a few of you and hopefully convert you into a data believer too! We hope to see you there at Booth #2046!

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