The Power of Information Chapter 10 Technology Strategies

The Power of Information Chapter 10 Technology Strategies for the Hospitality Industry Nyheim, Mc. Fadden, & Connolly © 2005 Pearson Education, Inc Upper Saddle River, New Jersey 07458

Interview n Michael Goldenberg Co-founder Statability. com Offers web-based reporting -Nonintegrated systems problematic to industry -Geographic dispersion still a problem to proper data collection Technology Strategies for the Hospitality Industry Nyheim, Mc. Fadden, & Connolly © 2005 Pearson Education, Inc Upper Saddle River, New Jersey 07458

1. Introduction n Managing today’s complex hospitality business requires effective use of information and a sophisticated business intelligence system that can gather, store, analyze, synthesize, share, and communicate information through the organization to those who need it, when, and where they need it so that the may apply it in effective value-creating ways. Technology Strategies for the Hospitality Industry Nyheim, Mc. Fadden, & Connolly © 2005 Pearson Education, Inc Upper Saddle River, New Jersey 07458

1. Introduction n n An Effective Manager must: (1) constantly be in the know, (2) always have your fingers on the pulse of the organization, and (3) continually know what information is necessary to do your job and run your business An Effective Information System: knowledge capture, creation, sharing, and policy enforcing devices. Technology Strategies for the Hospitality Industry Nyheim, Mc. Fadden, & Connolly © 2005 Pearson Education, Inc Upper Saddle River, New Jersey 07458

Wisdom Knowledge Information Po w er & Co m pe tit iv e Ad va nt ag e 2. Data Versus Information Technology Strategies for the Hospitality Industry Nyheim, Mc. Fadden, & Connolly Data © 2005 Pearson Education, Inc Upper Saddle River, New Jersey 07458

Process 1. Data Collection (Input) 2. 3. 4. 5. 6. Data Cleaning & Standardizing (Quality Checks) Analysis & Synthesis (Processing) Reporting & Communicating (Output) Interpretation & Application (Use) Return on Investment (Measurement) Technology Strategies for the Hospitality Industry Nyheim, Mc. Fadden, & Connolly © 2005 Pearson Education, Inc Upper Saddle River, New Jersey 07458

3. Information as a Valued Asset n n Hospitality firm’s most important, yet undervalued asset due to its intangible nature. Garbage in equals garbage out Perishable Context sensitive Humanistic element Technology Strategies for the Hospitality Industry Nyheim, Mc. Fadden, & Connolly © 2005 Pearson Education, Inc Upper Saddle River, New Jersey 07458

4. Working Smart n Real-time access to information needed Technology Strategies for the Hospitality Industry Nyheim, Mc. Fadden, & Connolly © 2005 Pearson Education, Inc Upper Saddle River, New Jersey 07458

5. Tools That Can Help n Executive Information System (EIS) ¨ Graphical ¨ Drill-down ¨ Exceptions n – Negative and Positive Decision Support System (DSS) ¨ Online Analytical Processing (OLAP) ¨ Predictive Analysis (Forecasting) Technology Strategies for the Hospitality Industry Nyheim, Mc. Fadden, & Connolly © 2005 Pearson Education, Inc Upper Saddle River, New Jersey 07458

6. The Balanced Scorecard n Critical Success Factors ¨ Financial considerations ¨ Operational statistics ¨ Competitive activity and positioning ¨ Internal factors ¨ Employee measures ¨ Guest perspectives ¨ Supplier relationships and performances ¨ Environmental concerns ¨ Community ¨ External factors ¨ Assessment for learning and innovation Technology Strategies for the Hospitality Industry Nyheim, Mc. Fadden, & Connolly © 2005 Pearson Education, Inc Upper Saddle River, New Jersey 07458

7. The Importance of Infrastructure People, technology, business processes, and organizational culture n Standards n Middleware n Security n Capabilities and limitations n Technology Strategies for the Hospitality Industry Nyheim, Mc. Fadden, & Connolly © 2005 Pearson Education, Inc Upper Saddle River, New Jersey 07458

8. Summary Information, its timeliness, and actions taken are key n Performance measuring and monitoring tools are needed n EIS and DSS are two examples n Systems must allow for customization n Knowledge, not location, is the key n Technology Strategies for the Hospitality Industry Nyheim, Mc. Fadden, & Connolly © 2005 Pearson Education, Inc Upper Saddle River, New Jersey 07458

Additional Resources www. dice. com - online job posting www. fastcompany. com -tech based companies Technology Strategies for the Hospitality Industry Nyheim, Mc. Fadden, & Connolly © 2005 Pearson Education, Inc Upper Saddle River, New Jersey 07458