Big Data in the Hospitality Industry: Prospects, Obstacles, and Strategies

Abstract

The hospitality industry has become increasingly reliant on big data analytics to enhance customer experience, improve operational efficiency, and increase revenue. This research paper presents five key findings on the opportunities and challenges of leveraging big data in the hospitality industry. Findings related to the opportunities of big data in the hospitality industry include the ability to personalize marketing campaigns, optimize pricing strategies, enhance customer service, streamline operations, and prevent fraud. These opportunities are essential for businesses to remain competitive and meet customer expectations. However, leveraging big data in the hospitality industry also presents significant challenges. The findings related to these challenges include managing the volume and quality of data, ensuring data security, addressing the skill gap in big data analytics, managing costs, and integrating multiple software systems. Based on these findings, this research paper proposes several strategies for hospitality businesses to effectively leverage big data. These strategies include investing in data management systems, ensuring data quality and security, prioritizing employee training and hiring, carefully assessing the costs and benefits of big data, and integrating software systems to ensure data consistency. Overall, this research paper highlights the opportunities and challenges of leveraging big data in the hospitality industry and provides strategies for businesses to maximize the benefits of big data analytics.