Modal title
One fine body…
July 18, 2018
Data Analytics Tips as Developed by Disney
|
Bonnie Spalding, consulting director for The Walt Disney Company, shares insights into how the data analytics approach pioneered at DisneyÕs hotels and resorts proved effective and grew into companywide practices.
The Walt Disney Company is a massive organization spanning the globe with everything from animation to amusement parks to hotels and resorts under its umbrella.But Bonnie Spalding, consulting director for Disney, said much of the companyÕs approach to data analytics grew out of the practices innovated at the companyÕs hotels. Speaking during ÒThe magic of mastering analyticsÓ session at HSMAIÕs 2018 Revenue Optimization Conference, Spalding shared some insights into how her company approaches analytics. She noted the company has 140 peopleÑor Òcast membersÓ in Disney parlanceÑon its data team, roughly a third of which have doctorates. ÒWe have this group of really specialized, science-driven team members,Ó she said. ÒIt creates a center of excellence within the organization.Ó There is no end point Spalding said itÕs important for organizations recognize thereÕs no point where theyÕve solved data analytics, and instead itÕs a journey of continual improvement. She said DisneyÕs journey in dataÑwhich started with proving success in the hotels and parks before growing more widespreadÑmirrors that of revenue management in the hotel industry, which began with incremental successes in room inventory management before growing in other areas. She added that mentality is key in winning over stakeholders like owners or general managers. ÒIf you prove success in the rooms segment, that enables credibility and talent to move into the next steps or other areas or opportunities in an organization,Ó she said. Steps in the journey Spalding said itÕs important to recognize that different organizations are at different points in that journey to mastery in data analytics, and there are several stepping stones along the way. She referenced the book ÒCompeting on Analytics: The New Science of WinningÓ to note that organizations start as Òanalytically impaired.Ó She mentioned the other stagesÑlocalized analytics, analytical aspirations, analytical companies and analytical competitorsÑwhile noting many organizations naturally stop at the localized stage. Reaching that stage Òcould end the journey, but what makes or breaks it is the buy-in,Ó she said. Spalding said as companies grow in their use of analytics, they become more integrated and data is used as the Òdrivers and measures of success within an organization,Ó which she said is key. ÒA lot of us get stuck a bit on transactional analytics,Ó she said. Analysts should trumpet successes The Broadway musical version of ÒThe Lion KingÓ is often pointed to as a massive success in the companyÕs deployment of data analytics to optimizing theater ticket pricing. Spalding said that itÕs important to find successes like that to Òevangelize and educateÓ people on the importance and power of analytics. ÒWe essentially evangelize the idea of data analytics within and outside the organization,Ó she said, noting the company hosts an annual conference on analytics for that very reason. ÔStart with an end in mindÕ Spalding said data analytics efforts are often more successful when theyÕre more focused. She said this can help get the right information in front of the right people right away, which helps identify key stakeholders and identify things like what the right key performance indicators are for a project. She said itÕs necessary to know Òwhat success looks like from a tangible, concrete perspective.Ó In terms of deciding what metrics to look at and present to others, she said it behooves data analysts to determine Òwhat is most important to you and make sure itÕs front and center.Ó Incorporating alternate realities Spalding said her team at Disney spends a considerable amount of time figuring out what ÒcounterfactualsÓ they need to look at to measure success against. ÒThat essentially means youÕre making up an alternative reality,Ó she said. She said these alternate outcomes act as sort of a control group versus real performance in a Ònonsterile environment.Ó That can mean considering what wouldÕve happened if by taking a different action than what actually happened or even Òthe cost of doing nothing.Ó She said itÕs important to identify counterfactuals that are accurate representations to benchmark against. New data tools There are considerably more tools to deal with data than ever before, including machine learning and artificial intelligence, Spalding noted. She also said there are more sources of data today than in the past that analysts need to consider. Before embarking on incorporating those new tools, though, she said itÕs important to identify the person on the team who has the expertise to deal with them along with other factors, such as whether tools will be outsourced or built internally, how quickly the team can get them to market and if theyÕre scalable in a way thatÕs applicable to the organization. Copyright 2018 STR, Inc. All rights reserved. From http://www.hotelnewsnow.com.
By Sean McCracken. |
To view all articles, check out the Internet Travel Monitor Archive