Chapter_10-Competing On Knowledge How The Power Of Information Can Enable Great Things.pdf

PowerPoint Presentation 03/01/2014 1 Copyright ©2012, 2005 by Pearson Education, Inc Upper Saddle River, New Jersey 07458 • All rights reserved1 Technology Strategies for the Hospitality Industry, 2nd[.]

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Technology Strategies for the Hospitality Industry, 2nd ed.

Peter D Nyheim and Daniel J Connolly

Competing on Knowledge: How the

Power of Information Can Enable Great

Things

Chapter 10

INTRODUCTION

FIGURE 10-1 A Quick Test of Your Firm’s Informational Savviness

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DEFINING BUSINESS INTELLIGENCE

• Managing today’s complex hospitality

business requires effective use of

information and a sophisticated business

intelligence system that can gather, store,

analyze, synthesize, share, and

communicate information throughout the

organization to those who need it, when and

where they need it so that they may apply it

in effective, value-creating ways

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FIGURE 10-3 A Proposed Textbook Definition for Business Intelligence

DATA VERSUS INFORMATION

• The terms data and

information are often

used interchangeably,

yet they are not the

same

– It is worth noting the

distinction

• There is actually a

data hierarchy, which

is illustrated in Figure

10-4.

FIGURE 10-4 Data Hierarchy (Source: Adapted

from Professor Richard G Moore (Emeritus), Cornell University’s School of Hotel Administration.)

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DATA VERSUS INFORMATION

FIGURE 10-5 The Process of Refining and Making Sense of Data

INFORMATION AS A VALUED ASSET

• Information is one of a hospitality firm’s most

important, yet undervalued, assets due to its

intangible value

– It is highly coveted as its role is critical in every

aspect of the hospitality industry, from guest

services to marketing, decision making,

administration, and control of the operation or

organization.

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INFORMATION AS A VALUED ASSET

• Information is a critical source of competitive

advantage, but it is not just the information

that contributes to one’s competitive

advantage It is how quickly one can act on

this information after finding meaning in it

through the discovery of patterns,

relationships, and insights—before the

competition—to do things that they cannot

INFORMATION OVERLOAD

• Some of the challenges associated with

running today’s operations are trying to

wade through reams of reports, e-mails,

financial statements, operating statistics,

operational log books, and so on to figure

out what’s important versus what’s not, to

separate the important signals from all the

noise

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WORKING SMART

• As managers’ time is spread across a wider array

of issues and business operations, managers are

expected to oversee multiple aspects of the

business without necessarily having all of the

specific expertise—and certainly not all of the

time—required to focus on the many important

details to ensure smooth business operations, the

consistent delivery of exceptional guest services,

and the desired performance levels

– Clearly, managers must figure out how to work smart if

they are to be effective and productive and how to pay

close attention to the numbers while maintaining high

visibility across departments.

TOOLS THAT CAN HELP

• There are two systems that run behind the

scenes whose specific purpose is to help

aggregate, analyze, interpret, and report

data from multiple systems

– These are the executive information system

(EIS) and the decision support system (DSS).

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THE BALANCED SCORECARD

• Over time, EIS systems have evolved and

now focus on providing a balanced

scorecard (an organizational report card of

key performance measures or dashboard of

sorts) to top managers, a concept first

popularized by Kaplan and Norton (1996)

• The balanced scorecard may vary from

organization to organization, but the

underlying premise is the same: ascertaining

the health of the business

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FIGURE 10-6 Sample Balanced Scorecard

THE IMPORTANCE OF INFRASTRUCTURE

• Like a building’s foundation, the technology

infrastructure is the base upon which all

technology applications are built

– Simply put, the technology infrastructure is

everything (i.e., people, technology, business

processes, training programs, and

organizational culture) necessary to support the

flow and processing of data and information.

Tiêu đề	Technology Strategies for the Hospitality Industry
Tác giả	Peter D. Nyheim, Daniel J. Connolly
Trường học	Cornell University
Chuyên ngành	Hospitality Management
Thể loại	sách
Năm xuất bản	2014
Thành phố	Upper Saddle River

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Số trang	8
Dung lượng	536,85 KB