The key to growth in a world of technological hyper-evolution is a culture that efficiently executes more insights faster. And while nothing unveils a prudent next step like rich unbiased data, such clarity rarely exists as “big data” is often fatiguing and multi-dimensional. This challenge escalates further as algorithms enter the picture and begin to execute as black boxes to all but their creators. To cope, Sr decision makers often employ teams of analysts to roll up trends not realizing that in order to summarize millions of lines of raw data, a series of decisions must be made before leadership is even at the table. This vulnerability can lead to enormous effort and expense wasted on redirecting already working arms of the business or resolving issues that don’t actually exist. Thanks to advances in data visualization, many of these errors can be avoided with a base understanding of one’s own raw data combined with an appetite to see the fuller picture.
In this session, through the lens of the lodging business, we will review the core elements of raw transaction data which will provide a base understanding of the data-structures that commonly apply to most industries. We will explore some of the misconceptions derived from summing and averaging trends too quickly and will discover hidden insights found only when data is revealed as a complete picture. At its conclusion, attendees will carry away both a cultural and technical data-foundation that will allow them to ask better questions and derive deeper insights from their own businesses.
Head of Commercial, USA
03:00PM - Day 2