The unprecedented volume of data captured by modern hospitality firms can be used to create economic value. This report provides a methodology to help hospitality managers identify and prioritize possible data-driven initiatives. This process starts with identifying the transaction-processing systems in the organization and inventorying the data they capture and store. After envisioning possible initiatives that employ these data, the methodology suggests a way to prioritize projects to ensure that only those offering positive returns are implemented. The methodology presented here allows managers to make such a cost-benefit assessment for any data-driven initiative.
Piccoli, G., & Torchio, P. (2006). The strategic value of information: A manager's guide to profiting from information systems [Electronic article]. Cornell Hospitality Report, 6(7), 6-14.