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The importance of data-drivenness

This video explores the value of a data-driven mindset. Data is everywhere! How can you engage with it to improve your business.

In order to identify growth opportunities, drive innovation, operate more efficiently and manage risk in new ways, it is crucial that your business is data-driven. Data-drivenness is essentially about creating tools and abilities, but also developing a culture in your business to act on data.

People often think using data is about coming up with new ideas; however, more typically, it is more about selecting insights to make existing things better.

For example: Access to transport data is about anticipating demand and knowing when people are coming in. An accommodation provider can respond to this insight by employing the right number of staff ready to welcome people on arrival.

The tourism sector can learn a lot from companies driven by a data-mindset, including in other industries, where successful businesses use data in interesting ways to increase revenue or site traffic.

In this video you will hear about the business benefits you may derive from a data-driven mindset and how a culture of making data-driven decisions may improve your everyday business.

While watching the video, think about how changing the way you use data in the pursuit of an occupancy strategy. Could data-drivenness help you see the reality of a situation and spend less time guessing and more time being able to forecast and be proactive about issues and opportunities that arise? Are there businesses, perhaps in other industries, that you can think of that use data in interesting ways that you could take inspiration from?

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Understanding Data in the Tourism Industry

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FutureLearn - Learning For Life

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