Geo-fencing

Geo-fencing

Definition A Geo-fence is a virtual parameter around a real-world location, meaning that a user cannot access any of the information within the geo-fenced area without actually being physically present in that area. The user no longer has access the … Continued
Online Marketing

Online Marketing

Definition Online marketing is a set of powerful tools and methodologies used for designing products to be promoted, attracting potential customers through rich and structured content. Tools exist to measure “clicks” and product popularity throughout various online channels. Effective online marketing … Continued
Information Architecture (IA)

Information Architecture (IA)

Definition Information Architecture (IA) is the structural design of shared information environment, and it applies the theories of architecture to the digital world. It is a way of organizing information on websites, online communities and/or software in order to make … Continued
Online Travel Agency (OTA)

Online Travel Agency (OTA)

Definition An Online Travel Agency (OTA) is an agency engaged in selling and arranging accommodations, tours, transportation and trips for travelers on an online platform. From these travel websites, hotels can learn how to implement distribution channel marketing, points of difference … Continued
Point Of Sale (POS)

Point Of Sale (POS)

Definition The Point Of Sale (POS) is the physical location at which goods are sold to customers, more typically indicating the piece of technology which is used to finalize the transaction.   POS systems EasywebPOS   Origin   Other Languages … Continued
Revenue Management System (RMS)

Revenue Management System (RMS)

Definition Revenue Management System (RMS) is a software used to predict customer demand, to optimize inventory and price availability, and maximize revenue growth. By using the right information, revenue managers can divide the market and adjust products sales through distribution to … Continued
Predictive Analytics

Predictive Analytics

Definition Predictive Analytics uses large groups of data from the past, not only to determine past trends, but to predict the future as well. Good data analytics leads to more reliable results, thus offering valuable insights for a hotel’s management … Continued
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