September 2016
Beginner to intermediate
432 pages
10h 40m
English
Content preview from The Analytic Hospitality ExecutiveBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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CHAPTER 9Analytics for Performance Analysis
Prediction is very difficult, especially if it’s about the future.
—Nils Bohr, Nobel laureate in physics
Ititled this chapter “Analytics for Performance Analysis” to encompass a few functions that leverage similar data for a similar purpose in the hotel and casino business. I am speaking of departments like finance and development that are responsible for analyzing the performance of units, brands, or regions, and identifying areas of opportunity. They can be responsible for developing new units or new locations, as well as reporting on the overall performance of the enterprise to stakeholders or shareholders. In some firms, this type of analysis and reporting function is referred to as analytics or business analytics; in others, it’s called strategic planning and analysis, or financial planning and analysis. Some companies may have several of the departments that I named previously, but together they are responsible for the tasks and goals that fall under this area, including:
Reporting on performance across the enterprise, including supporting quarterly earnings reports
Supporting the process of convincing franchisees and owners to invest in the company’s brands
Determining locations or targets for new hotel development and identifying acquisition targets
Understanding drivers of performance to build effective business strategies
Anticipating changes in the operating environment and planning for future events
Identifying areas of risk, ...
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