You manage what you measure
Most organizations do a fair job of measuring sales history and material usage, but this is only a part of the overall picture of the health of the business. This is rear view mirror analysis. It gives us a view of where we’ve been. In order to lead a company into prosperity, it needs to know where they are heading and be able to identify and avoid any obstacles that might be in the way. Hospitality needs to consolidate all of the information it collects and develop a 360-degree view or their operations.
Success through information
Traditional the hospitality industry's back office technology, provides rudimentary reporting on POS data and resource planning. Today’s operation need to include external information sources to stay ahead of the competition. Weather data adds an element of planning that can reduce costs in resources, increase sales of targeted products during specific events, ensure delivery of supplies and add color to historical reporting. Combining marketing activities data with POS and supply data and can help to identify cross sell opportunities and shed light on potential new marketing activities with greater margin. Customer sentiment information can identify regional trends and allow for identification of new promotions.
Planning analytics has traditionally been done with spreadsheets and elbow grease. Consolidated reports from POS, Labor and supplier information are combined to take a snapshot of a point in time. Inferences are then made to generate a plan for a set time frame. IBM’s Planning Analytics solution builds a plan from hard detail data and allows the organization to adjust the model and identify savings or opportunities.
- Cloud based system that can be quickly implemented
- Access to internal and external data sources
- Business led design for planning, analysis and score carding
- Predictive analytics built in
- Integral use of the Microsoft Excel interface to speed adoption and leverage existing skills
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