In general, business operators in the hotel industry want to provide customer satisfaction (above and beyond the customers’ expectations) while ensuring efficiency and effectiveness within their operation in order to be profitable. To achieve this, businesses rely on statistical information and forecasts in order to make informed business decisions.
Traditionally, this process would require hiring consultants who specialize in this area, especially when the time comes for forecasting the budget for the upcoming year. Those in hotel management who have experienced in this area can attest to the fact that it is an extremely tedious process, even for those who are experts in that field. Einstein Analytics software for hotels will make this entire process a breeze!
What is Einstein Analytics?
Put simply, Einstein Analytics is a very smart yet simple way to process business data, thereby turning the information into usable statistics such as business forecasts, thus allowing smart business decision based on your businesses’ actual experience.
Einstein Analytics is fast, provides actionable insights, and is powered by Artificial Intelligence (which means you as the hotel operator no longer have to struggle with figuring out algorithms, and wondering if your analyst’s calculations and forecasts are correct).
How Does Einstein Analytics Software for Hotels Relate to CRM and IMS?
CRM Explained
A Customer Relationship Management (CRM) system deals with the external business interactions and processes, and how such data is managed. CRM systems allow business operators to digitally store client information (both current clients and prospective ones), track their interactions, provide an easy digitized way for clients to give feedback about the service they receive. Another benefit of CRM systems is that it takes the hassle out of processes such as ordering room service or additional services. By means of CRM digitized system, businesses are able to learn more about and cater to the needs of the customer for the entire time that customer interacts with your business (in other words, for the duration of the customer lifecycle).
IMS Explained
The concept of Integrated Management System (IMS) is pretty simple. IMS allows business operators to defy location barriers to updating information, and notifies all the relevant parties simultaneously with updates (eliminating the need for persons to manually relay information). A good IMS system would encompass digitized processes that allows communication across departments, while ensuring information safety, and that only relevant parties have access to sensitive information.
The relation between Einstein Analytics Software for Hotels, CRM and IMS
What does all of this have to do with Einstein Analytics software for hotels? Cloud based CRM, IMS, and Einstein Analytics which works in tandem with each other to provide the best software for hotel possible.
Of interest to note is that Einstein Analytics software for hotels can be used by either professional business analysts or an employee untrained in analytics. In other words, the CRM team can use this software for hotels to produce a forecast (simple or detailed) to determine what extra services are normally requested by which type of clients at what particular time.
To break this down even simpler… CRM staff members are normally experts in getting the customer what they want, how they want it; they are not usually experts at financial or data analysis. That is where business analysts would come in. However, with Einstein Analytics software for hotels, your regular CRM staff will be able to create and utilize analytical data.
Why is Einstein Analytics An Excellent Software for Hotels?
Einstein Analytics is an excellent software for hotels because it empowers hotel managers and line staff to be more efficient and effective at providing excellent customer satisfaction while improving profitability. How? By providing the insights they need to make every customer interaction smarter, without having to build mathematical models, write algorithms or ask an expert for help.
Why Choose Einstein Analytics When I Have Analysts on Staff?
The Einstein Analytics software for hotels would allow any staff, even those untrained in analysis, to complete workflow analytics, communicate its findings quickly with auto-generated slide presentations that contain visual aids (such as graphs or pie charts) and talking points. And on an exciting note, if needed, business analysts can access the complete model and algorithms behind the analysis to gain a deeper understanding of how the predictions and recommendations were derived! The hotel therefore saves tons of money on expert analyst fees, yet is still equipped with the information needed to determine how to maximize the cost of their premium room service while making sure that premium service remains attractive to the targeted customers.
A Practical Explanation of Einstein Analytics At Work in Your Hotel
You are expecting a group of twenty (20) persons tonight for a weekend long Fiftieth (50th) Anniversary Party. You know from your CRM System that they want to pull out all the stops – they have ordered extra amenities such as the twenty (20) year old Port and chocolates to be served in the rooms upon arrival; they have made reservation for the entire group at the most elite restaurant on your property. However, you as the hotel owner would like to make use of the opportunity to up-sell a special spa package, as you notice they have not made any reservations there (and from all indication thus far, spending for this very special occasion doesn’t seem to be an issue for this special group). Via your IMS system, your Purchasing team has advised that you are fully stocked on spa products, and your Sales team informed you of the top price normally charged for such items. You wanted to maximize profit though, by creating a special premium spa package at a higher than normal rate, and you are wondering about the best pricing and which of the premium spa services to include. There is just one issue… you in-house analyst is on vacation at a remote island with little or no cellphone reception (perhaps a visit to Cuba for argument sake). What are you going to do!?
Well, with Einstein Analytics software for hotels you won’t have to worry because even your bus boy could use this special app to provide detailed, steps by step analysis of this situation, and give you the top three factors that influence customer decision when they are choosing premium spa services. The Einstein Analytics software for hotels can basically tell you, ‘hey, your customers are normally willing to pay top dollar (up to $10 above the going rate) for Shiatsu and Stone Massage once: the ambiance is tranquil, there is a minty lemongrass scent combination, they receive the house reserve wine with chocolate coated strawberries with gold sprinkles complimentary, and are given a gift bag with free spa slippers and our in-house special sample nail polish in our special hotel color, along with our branded face rags and special natural soap’.
The Conclusion of the Matter
As the most advanced data and analytics package in the property management industry today, the Einstein Analytics software for hotels can save your property management business a ton of money on analytical research and development (by eliminating the need to hire specialized analysts) while alleviating the common stress of the average decision making management staff, making their job more convenient and easy with the Einstein Analytics software for hotels. It sure seems worth a try!