Are you responsible for managing a portfolio of properties? If so, what does an occupied room mean to you? Are comp rooms included? Rewards rooms? What does an available room mean? Are all the definitions the same for each property? Is everyone on the same page when it comes to these definitions?
Without consistent business rules, it’s easy to misunderstand important information, especially when comparing reports from multiple properties. How can you compare the performance of different brands in your portfolio if each one is using a different calculation?
Centralized data storage is the only solution that will allow you to define business rules that can be consistently applied across the data set. Otherwise, you may as well be comparing apples and oranges.
Reducing Human Error
Do you remember playing the “Telephone” game as kid? It’s where one person whispered a phrase to another and it was repeated in a circle. By the time it got to the last person, it was often misinterpreted and unrecognizable from the original message. The same logic applies to spreadsheets. The more hands that touch it, the more likely an error will be introduced.
A centralized data solution allows you to upload raw data directly from your property management systems (PMS) and point-of-sale systems (POS), removing the element of human error from the equation. It creates a locked-down environment that prevents data manipulation and calculation errors. If decisions are based on a spreadsheet that has been sent to multiple people and edited multiple times, and an error is discovered, it’s almost impossible to determine what went wrong and when.
Secure Data Storage
Without a centralized data solution, spreadsheets and emails fly back and forth with a high chance of data being compromised or even lost. Working with an enterprise solution provider minimizes this risk. Let the experts of an industry leading data center protect you and your sensitive business information. They offer more data protection than any individual property or management company can provide on its own.
Find a Solution
If you’re unsure where to start your search for a centralized data solution, reach out to your ownership group or an organization such as Hospitality Technology Next Generation (HTNG). Ownership groups often rank their operators by performance. Find out where you rank against your competitors and learn from them. Chances are they use a centralized, integrated solution to manage their operations. HTNG or other technology forums also have guides or programs that can help connect you with vendors.
Broadvine delivers business insights for hospitality organizations in an easy-to-use, web-based SaaS environment. Our application enables companies to analyze data across their portfolio and improve their profitability and operations.
For more information, visit www.broadvine.com.