Business News first on FIR:
Quantzig, a global data analytics and advisory firm that delivers actionable analytics solutions to resolve complex business problems, announced the launch of its recent article that illustrates how an analytics-driven contingency plan can help the US hospitality industry bounce back.
What’s in it for you?
- Understand why a contingency plan is crucial to tackling a pandemic
- Learn more about the impact of COVID-19 on the US hospitality industry
- Determine the benefits of leveraging analytics solutions
- Gain in-depth insights on the actions that need to be taken to resume operations
With COVID-19 spreading rapidly across the US, the US hospitality industry is undoubtedly the worst hit. Social distancing is the only way to tackle this situation, but it comes at a massive economic cost. Businesses must stay prepared to face such catastrophes. Request a FREE proposal for personalized recommendations.
The US hospitality industry is one that is fraught with risks and challenges even in the best of times. In the United States, the hospitality sector consists of four main segments- Food and Beverage, Travel and Tourism, Lodging, and Recreation, all of which contribute significantly to the global economy. With the coronavirus pandemic impacting businesses on a large scale, the situation for these four major business segments within the sector may soon become dire. Social distancing and other precautionary measures taken by the government to tackle the pandemic have severely impacted the hospitality industry, which is now seeking government aid to stay afloat.
Figure out why an analytics contingency plan is a must-have in this scenario. Talk to our analytics experts now!
According to Quantzig’s advanced analytics experts, “The US hospitality industry will return to normalcy once people and businesses become confident that the virus is no longer a big problem. Even when that happens, there will remain the risk that another pandemic can impact global processes significantly, driving the need for a robust contingency plan.”
Learn more about the role of analytics and other trends that are likely to impact the travel and hospitality industry in 2020.
How the US Hospitality Industry Can Get Back on Track?
Several challenges, like the ones arising due to the current global scenario, could throw the US hospitality industry off course this year and the year ahead. To stay prepared, one must understand the biggest trends and challenges likely to shape the tourism and hospitality industry in the year ahead. However, this alone would not suffice, and a detailed analysis and recovery plan is crucial. So, what can the US hospitality industry learn from this downturn and what can be done to safeguard their business?
1: Analyze demand disruptions and forecast overall profits
2: Decode historical data sets and adjust pricing strategies
3: Radical personalization through predictive analytics
With the ongoing advancements in technology and analytics, it’s crucial to note that to get the most out of your business data, you need a centralized system that collates, analyzes, and decodes data to enhance customer satisfaction, personalize offerings, and drive ROI.
Book a FREE solution demo to gain comprehensive insights on how data can drive your business into the future.
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal