Central Reservation System (CRS)

Central Reservation System (CRS)

Definition Central Reservation System is a computerized system that stores and distributes information on a hotel, resort, or other lodging facility. This type of system enables chains of hotels to monitor availabilities and rates, as well as indications of required … Continued
Prescriptive Analytics

Prescriptive Analytics

Definition Prescriptive Analytics is the most complex and most recent type of analytics. It combines structured and unstructured data with advanced processes like “machine learning”. This newly developed technology involves advanced algorithmic processes that predict the future based on past … Continued
Customer Relationship Management (CRM)

Customer Relationship Management (CRM)

Definition Customer Relationship Management refers to practices, strategies and technologies that companies use to carefully manage and analyze detailed information about individual customers and all customer “touch points”. The aim of this analysis is to improve and maintain loyal business … Continued
Unstructured Data

Unstructured Data

Definition Unstructured data refers to any data that has no identifiable structure (e.g. images, videos, email, documents, text). Although each individual document may contain its own specific structure or format based on the software used to create the data, unstructured … Continued
Distribution Management System (DMS)

Distribution Management System (DMS)

Definition A Distribution Management System (DMS) is a utility IT system designed to collect, organize, display and analyze real-time distribution information. It is designed to monitor and control the efficiency and reliability of the distributors, and should measure channel and … Continued
Standard Operating Procedure (SOP)

Standard Operating Procedure (SOP)

Definition The Standard Operating Procedures (SOPs) are the documented processes that a company has in place to ensure the consistent delivery of services and/or products every time. Every business require key SOPs including (1) Operations – steps to handle the … Continued
Enterprise Resource Planning (ERP)

Enterprise Resource Planning (ERP)

Definition Enterprise Resource Planning is a business process management software on which a company manages and integrates the important parts of its business including technology, services and human resources. Data can be collected and stored in this software, and that … Continued
Structured Data

Structured Data

Definition Structured data refers to data that is identifiable because it is organised, labeled, or categorized in a structure. It is understood by computers and is also effectively organized for reading. The most common form of structured data or Structured … Continued
Channel Managers

Channel Managers

Definition Channel Managers are groups that manage indirect sales channels (through OTAs and such). A hotel can have numerous partners, it needs to coordinate marketing activities and handle queries all at the same time. Channels managers enable hotels to track … Continued
Small Data

Small Data

Definition Small data is a set of information of a manageable in size, and it is generated by internal resources like a hotel’s PMS, channel manager, or website. When properly structured, small data becomes actionable information that can make an … Continued