How Should Revenue Managers Use Data?

NB: This is an article from NetAffinity

How should revenue managers use data? What common pitfalls do they fall into? What are the contemporary “best practice” revenue management techniques and intelligence you should be aware of? Our Head of Revenue Strategy, Maeve Walls, set out to answer those questions.

In her 3 part series, she discussed:

  1. 6 ways RMs use data to make their hotel smarter. Use data to make your hotel website a haven of carefully-selected images, content and rate plans. No matter how chaotic the rapid changes in the industry may seem, RMs should be absolutely focused on clarity and data-driven decisions. Do deal sites pay off? What can your hotel pace report tell you? Data is key to understanding almost every important issue your hotel faces.
  2. 5 customer concerns RMs should be involved in addressing. At first, it may seem like customer concerns are for other departments to deal with. However, there are important customer issues that revenue managers must be involved in. These include availability on different channels, pricing, and even issues like reputation management.
  3. 6 ways for decision making to go wrong. What happens when revenue managers stop using data? Decision making processes sometimes fall apart – why?

Hoteliers are busy people- there’s often no time to sit and read! With that in mind, we made a quick-and-easy infographic to help you out. Give it a quick look here:

How do revenue managers use data?

How do revenue managers use data?