Definition: Data Sources across the hotel, vacation rental, restaurant, golf and country club industries include many types from economic data to demand insights and pricing data to social analytics. These data sources are designed to educate and inform both people and machines and improve business decisions.
Travel and Hospitality industries historically have relied upon internal data sources with a low number of exceptions. However, about twenty years ago this tide began to change and more third party data sources began to enter the scene. These days, there are not only more data sources, but multiple options to choose within each type of data set. As an example, there are numerous solutions for gathering, reporting and analyzing pricing data from across the industry. Whether you are considering hotel rooms, vacation rentals, restaurant menu items or rounds of golf, you may have numerous products that could supply you data of interest. This article organizes the wealth of data to help you with your marketing, operational and technology programs whether you are rebuilding, retooling, surviving or flourishing in today’s market.
Capsolve segments the many solutions its research uncovered into 15 categories of data and intelligence solutions. Most of these are provided by companies with data products or services designed for a set of defined business purposes. Others still are the result of a business partnership where data is a compelling reason for the partnership to exist.
While many of the products that we researched are in fact part and parcel to our industry, others are generally available sources of information from companies beyond this industry’s walls in addition to various government agencies. Selected companies even provide the service of aggregation to make the data more accessible. When all is said and done, there are myriad opportunities to find and blend data sources into the business processes and decision making at any company. As with software, most companies making data a priority are considering costs of acquiring and managing the data in addition to the return on investment they may garner. Furthermore, these data are potential input sources to many of the leading edge technologies infiltrating the marketplace today, such as Artificial Intelligence, Machine Learning, Virtual Reality and others.
Need more information? Login or subscribe to Capsolve’s Introductory Research Plan to read more. Alternatively, search for relevant Data Sources by requesting a Custom List:
Your customized list of solutions will meet your primary criteria for a particular type of solution, such as a Data product. However, you may request this type of list for any category.
Capsolve’s Research on Data Sources includes:
- Data Source Styles
- Core Capabilities of Data Sources
- Sales & Marketing Considerations
- The Ecosystem of Data Sources
- Current Trends
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About The Document
This document details a review of the marketing information and capabilities associated with Data Sources and the surrounding technology ecosystem. It contains original content written by Capsolve to provide a perspective of current trends affecting solution providers, country clubs, vacation rentals, restaurants and hotels.