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The Analytic Hospitality Executive By Kelly A. McGuire

The Analytic Hospitality Executive by Kelly A. McGuire

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Targeted analytics to address the unique opportunities in hospitality and gaming The Analytic Hospitality Executive helps decision makers understand big data and how it can drive value in the industry.

The Analytic Hospitality Executive Summary

The Analytic Hospitality Executive: Implementing Data Analytics in Hotels and Casinos by Kelly A. McGuire

Targeted analytics to address the unique opportunities in hospitality and gaming The Analytic Hospitality Executive helps decision makers understand big data and how it can drive value in the industry. Written by a leading business analytics expert who specializes in hospitality and travel, this book draws a direct link between big data and hospitality, and shows you how to incorporate analytics into your strategic management initiative. You'll learn which data types are critical, how to identify productive data sources, and how to integrate analytics into multiple business processes to create an overall analytic culture that turns information into insight. The discussion includes the tools and tips that help make it happen, and points you toward the specific places in your business that could benefit from advanced analytics. The hospitality and gaming industry has unique needs and opportunities, and this book's targeted guidance provides a roadmap to big data benefits. Like most industries, the hospitality and gaming industry is experiencing a rapid increase in data volume, variety, and velocity. This book shows you how to corral this growing current, and channel it into productive avenues that drive better business. * Understand big data and analytics * Incorporate analytics into existing business processes * Identify the most valuable data sources * Create a strategic analytic culture that drives value Although the industry is just beginning to recognize the value of big data, it's important to get up to speed quickly or risk losing out on benefits that could drive business to greater heights. The Analytic Hospitality Executive provides a targeted game plan from an expert on the inside, so you can start making your data work for you.

About Kelly A. McGuire

KELLY A. MGUIRE, PD, is Vice President, Advanced Analytics for Wyndham Destination Network. She leads a team of data scientists and developers who build custom analytic solutions for Wyndham Vacation Rental's companies and the RCI time-share exchange. Prior to joining Wyndham, she led SAS's Hospitality and Travel Global Practice, setting the global analytics strategy for these industries, and supporting engagements around the world.

Table of Contents

Foreword xiii Acknowledgments xvii About the Author xxi Chapter 1 Building a Strategic Analytic Culture in Hospitality and Gaming 1 Strategic Analytic Culture 3 Moving Ahead and Staying Ahead with Prescriptive Decision Making 5 Making It Happen 9 Getting Started 13 How This Book Can Help 15 Notes 17 Chapter 2 Data Management for Hospitality and Gaming 19 Data Management Challenge and Opportunity 21 Data Storage 29 Data Integration 34 Data Quality 40 Measuring the Benefits of Data Management 42 Responsible Use of Data 43 Conclusion 51 Additional Resources 52 Notes 52 Chapter 3 Data Visualization 53 Why Are Visualizations So Important? 55 Visualization Technology 56 Data Handling 58 Visualization Types 62 Creating Powerful Visualizations 67 Conclusion 79 Additional Resources 80 Notes 80 Chapter 4 From Reactive to Proactive Decision Making: Advanced Analytics in Action 81 Reactive to Proactive Decision Making 83 Statistical Analysis 84 Forecasting 91 Predictive Analytics 96 Optimization 100 Machine Learning 103 Text Analytics 104 Making It Work Analytics and Technology 111 Innovations in Solution Delivery 113 Real Time and Streaming 118 Conclusion 119 Additional Resources 119 Notes 120 Chapter 5 Analytics for Operations 123 Operations 125 Operations Data 128 Advanced Analytics for Operations 134 Workforce Planning and Optimization 140 Queues 146 The Impact of Queue Configuration 148 Managing Consumer Perceptions of the Wait 152 Benchmarking Operations Analytics Capabilities 156 Technology and People Investments 158 Conclusion 163 Additional Resources 166 Notes 166 Chapter 6 Analytics for Marketing 167 Marketing Data 169 Advanced Analytics for Marketing 177 Digital Intelligence 183 Benchmarking Marketing Analytics Capabilities 191 Technology and People Investments 196 Conclusion 199 Additional Resources 201 Notes 201 Chapter 7 Analytics for Sales 203 Sales Data 205 Advanced Analytics for Sales 210 Statistical Analysis 210 The Changing Landscape of Sales 212 Benchmarking Sales Analytics 214 Conclusion 218 Note 219 Chapter 8 Analytics for Revenue Management 221 Revenue Management: A History Lesson 223 Then Things Changed ... 227 Revenue Management Data 229 Revenue Management Analytics 231 Benchmarking Revenue Management Analytics Capabilities 247 Technology and People Investments 249 Conclusion 252 Additional Resources 255 Notes 255 Chapter 9 Analytics for Performance Analysis 257 Data for Performance Analysis 259 Advanced Analytics for Performance Analysis 263 Benchmarking Performance Analytics Capabilities 267 Technology and People Investments 269 Conclusion 273 Additional Resources 273 Notes 274 Chapter 10 Analytics for Gaming 275 Gaming Data 278 Advanced Analytics for Gaming 281 Casino Floor Revenue Optimization 285 Fraud and Anti Money Laundering 294 Benchmarking Gaming Analytics Capabilities 299 Technology and People Investments 300 Conclusion 303 Additional Resources 304 Notes 304 Chapter 11 Pulling It All Together: Building an Analytical Organization 307 Getting Started: Well-Defined, Small Projects for Maximum Impact 309 Organizing Your Analytics Department 316 The Build versus Buy Decision 324 Integrated Decision Making 327 Conclusion 337 Additional Resources 340 Notes 341 Appendix 1 Case Study from Infor: Analytics Opportunities in Operations 343 Appendix 2 Case Study from IDeaS: Meetings and Events Revenue Management 349 Appendix 3 Why Dynamic? 367 Appendix 4 Chapter Questions 377 References 385 Index 389

Additional information

The Analytic Hospitality Executive: Implementing Data Analytics in Hotels and Casinos by Kelly A. McGuire
John Wiley & Sons Inc
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