3 Reasons to Delay Investing in Big Data

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Business news is full of stories about big data transforming individual business and entire industries. Big data is an expensive proposition, how does a timeshare resort successfully use this technology in their business? Success in this case means achieving a desired ROI. It can be tempting to just go out and buy big data analytics software, thinking it will be the answer to your company’s business needs.

To answer that question, we will draw upon 8 years of practical experience analyzing data for various timeshare companies and examine three statements we often hear.

Then, we’ll share solutions that stem from our client’s successful use of data to make more informed business decisions.

Reason #1
Big data implementations are trendy, but your organization may not need it.

Practical Experience Truth:

Blogs and advertising are reporting that you should use big data in your timeshare business. As a savvy business person, you read about big data and it sounds like a great idea. We suggest that you take a look at what is already happening with regard to data in the organization. We have noticed a trend in the industry that data gets collected and then it is not truly managed well. It is a big job, and most current systems don’t do the job adequately. Secondly, the data often suffers from one or more of the following problems. It may be of poor quality, unverified, inconsistent, or even missing.

Solution:

The first thing a smart manager does is focus on data analytics rather than “Big Data.”  This manager receives a pdf report on Friday, but realizes a report is only part of the picture. The report details what is happened in the organization. This smart manager wants to look beyond the numbers on the page to see why those numbers exist and what they can do to change them. The manager knows that by using live data views they can see why performance is what it is, and then take steps to improve it.

Reason #2
Your organization thinks data analytics is the responsibility of IT, but your IT department is focused on other projects.

The goal of data analytics is to increase ROI and so the managing of the analytics tasks should be put in the hands of a business manager. Placing the burden of increasing ROI on the shoulders of your IT team is unfair.

Asking IT to be in charge of analyzing your data is like asking a medical surgeon to fly a Boeing 747 – each is an expert in their field, but not in each other’s. In business, we figuratively see a surgeon flying a Boeing 747. It is not fair to IT to assign them to analyze data for other departments, as they are not experts in those fields of business.

Practical Experience Truth:

If your IT department is anything like mine, they are quite busy and tasked with creating strategic solutions for your company. It would be a burden to ask them to create multiple variations of reports for various departments.

The purpose of analytics is to be timely. IT departments must juggle priorities created by multiple departments in any organization. For analytics to be truly effective, they need to be done in time to take action and benefit from the knowledge they provide.

In preparation for this article, we have tested this angle with IT professionals.  Each IT executive we interviewed confirmed the barrage of requests for reports and welcome the idea of the business experts running their own reports. This would eliminate the report queue and allow IT to focus on strategic company goals rather than report writing.

Solution:

We find true ROI by allowing decision-making managers access to the information they need want to make decisions. Give them the tools to see data in real-time and flip that information around in different angles to answer their “why” questions. They become powerful with what they know and they find they can act on ideas that improve performance in minutes instead of days, weeks, or months that are typical in timeshare.

Reason #3
There no direct return on investment in using big data for predictive analytics.

Practical Experience Truth:

Using big data for predictive analytics is expensive. Your marketing budget is likely stretched already. Why not use analytics to take a look at your current data first. If historically you have had a desired result 64% of the time, you already know that two out of three times you will have that desired result. This process is not predictive, it’s suggestive. Until you have great analytics working on your historical data, spending more money to get predictive analytics running is not your first concern.

It’s tough to rein in the enthusiasm for predictive analytics because we so want to believe it is possible! We believe the human condition to be unpredictable. We suggest you hold back adding expense to an already expensive marketing and sales process with little return.

Solution:

Allow business expert managers access to an analytics system with historical data and reliable metrics and observe more informed decisions. Predictive analytics using big data is an expensive way to most likely arrive at the same conclusions you could reach by using currently available data analytics tactics. Not only that, but predictive models tend to be very focused on a single measurement (like propensity to buy). Give a manager access to historical analytics and they can use the current processes and information to make decisions not on propensity to buy, but on personnel performance, product configurations, financing options, gift offers, and many more.

Summary:

These 3 reasons illustrate why timeshare companies should wait to invest in big data. We see the successful companies focused on making the information they already have work harder for them. They are successful in this by giving non-technical business experts the tools to see and then analyze the information they want to make more informed business decisions.

 

Founding Partners Become ARDA RRP Designees

sean_drewDrew Reynolds and Sean Nickerson have joined the ranks of key ARDA leadership by receiving the coveted RRP designation.

Founding partner Drew Reynolds is also a Chairman’s League member of ARDA . Drew said “Qualifying as RRP’s demonstrates our commitment to the industry and helps to position us as the authoritative source for sales and marketing analytics. Our team has come from the rank and file of timeshare sales and marketing. We will proudly wear our RRP pins to show our clients, prospective clients and colleagues the depth of industry understanding we bring to the forefront when we promote our services.”

The American Resort Development Association (ARDA) is the Washington D.C.-based trade association representing the vacation ownership and resort development industries (timeshares). ARDA has almost 1,000 corporate members ranging from privately held firms to publicly traded corporations with extensive experience in shared ownership interests in leisure real estate. ARDA’s RRP Award is the highest level educational achievement within the industry.

The AIF (ARDA International Foundation) includes Professional Development as one of its main tenets. It administers the RRP Qualification Test. Individuals who earn this designation set an example in the industry as a leader by getting more involved and demonstrating the importance of continuous learning.

This program requires a minimum of 5 years of industry experience and a total of 10 credits that can be earned in a variety of ways including but not limited to: attending ARDA events, authoring publications, serving on an ARDA committee, completing industry specific courses, attending AIF Webinars.

 

Drew Reynolds and Sean Nickerson to Speak at ARDA World 2014

Mark your calendars for two TrackResults Sessions at ARDA World 2014.

Drew Reynolds RRP
Speaking Tues April 8
1:15 PM – 2:45 PM
Topic: Big & Little Data – Business Intelligence for Decision Making

Sean Nickerson RRP
Speaking Tues April 8 -
9 AM – 10:15 AM
Topic: Sales Technology

Club Leisure

Club Leisure Group, the largest timeshare sales and property management company in South Africa, recently selected TrackResults for their business intelligence and analytics partner.

Leadership at Club Leisure wanted more flexible reporting, plus the ability to run instant analytics on their data without an additional burden to the IT Department.

“We have invested and developed a lot of our own software over the years,” said Thea Bormann, Board Member & Director of IT at Club Leisure, “and that helped us recognize that TrackResults does something unique: they deliver crucial information instantly, in a format our non-technical managers can use, at a cost effective price.”

“Club Leisure is a visionary leader and sees the value in analyzing the data they have invested in to capture. We are impressed with their desire to know everything about their business so they can improve. We are honored to be the tool they use to make more informed decisions.”

Club Leisure Group has added 342 users to TrackResults. Now 31 sales centers distributed among 4 regions in South Africa are actively using the system..

Donald Lamont, Senior Financial Manager, said: “we decided to sign up with TrackResults because its features serve all of our reporting needs, it’s a great management tool and its a solution that is ready to use, with no IT department involvement on our side. That way we can deploy our IT resources to other projects, while we immediately benefit from the “out of the box” solution that TrackResults has to offer”.

Since its establishment in 1990, Club Leisure Group has become one of the world’s largest leisure management companies, operating across several continents and servicing over 200 000 members worldwide.  Club Leisure is an active member and contributor to various trade organizations such as VOASA, RDO, ARDA, TATOC, and ATHOC. You can learn more at www.clubleisure.com.za

Managers with ideas can now access the information they need to make more informed decisions instantly.

 

Here are a few links regarding the decision:

http://www.rciventures.com/club-leisure-group-on-track-with-trackresults/

Go all In to help cancer survivors win

Send Me On VacationTrackResults : Texas Holdem Poker Tournament to Benefit Breast Cancer Survivors

Attendees of the upcoming ARDA World Convention in Las Vegas will now be able to gamble for a good cause at the TrackResults Business Intelligence “Go All In To Help Cancer Survivors WinInvitational Poker Tournament. The poker tournament will take place at the South Point Hotel, Casino and Spa at 8 p.m. the evening of Saturday, April 5, 2014, the night before timeshare and vacation industry professionals will officially convene for the ARDA World Convention. One hundred percent of the net proceeds of the poker tournament will benefit survivors through the efforts of Send Me On Vacation (SMOV).
The poker tournament will feature a total of 11 tables, with 10 of the tables being sold for a buy-in of $2,500. The playoff table, which is the “final table” level of sponsorship, is still available and up for grabs to the highest bidder who has the financial resources and desire to provide the most support.

Thus far, some of the companies that have have committed to sponsoring at “table level” in support of SMOV’s mission:  Travel To Go, Merlin Software, Westgate Resorts, Festiva Resorts, Wells Fargo, Brag Fire, Leisure Loyalty, Contact LLC, Chicago Title, and Nordis Direct. To receive a seat in the tournament, these are the sponsors who have control of the “buy-in” tickets.
Prize sponsors are still needed to support the cause with smaller donations. All prize sponsors receive press recognition, web mentions, listing on the sponsorship banners, and a seat in the tournament. Prizes will be awarded for play actions such as “Highest hand of the tournament,” “First person knocked out,” “Worst bad beat,” “Aces cracked” and raffle drawings.

for more info visit https://www.trackresults.com/poker PokerNight7

TrackResults Wins Best Product Development Award at GNEX 2014

TrackResults team accepts the Best Product Development Award

We thank all our clients who voted for TrackResults in the Perspective Magazine awards for 2014. We won the Best Product Development Award.

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The TrackResults team traveled to Sarasota Florida the week of Feb 9th to attend the GNEX 2014: Timeshare Leaders Conference – The Global Meeting of Minds. Their days were spent in meetings with other industry leaders,and participating in great sessions geared towards brainstorming better ideas for our industry as a whole.

The team was presented the award for “Best Product Development” at the Perspective Magazine Awards Gala Dinner. The judges were particularly impressed with TrackResults as a simple to use, sophisticated tool for resort developers. This is an exciting win for TrackResults as it highlights the dedication and development that went into upgrading the software over the past year.

Perspective Magazine awards presented at GNEX 2014 were chosen through independent judges analysis (80%) and online voting from industry peers, managers and executives (20%). The award was presented at GNEX 2014: Timeshare Leaders Conference – The Global Meeting of Minds. This year the annual event at the Sarasota, Florida Ritz Carlton was attended by more than 106 vacation ownership companies.

Drew Speaks: The “True Value of Data” Panel at GNEX 2014

Founding partner Drew Reynolds was a featured speaker on the Wednesday afternoon panel “The True Value of Data”. The talk was a high point for TrackResults. During his speech, Drew asked a very important question.

How can I get access to every single thing I want to make a decision on? “
He posed the question to the audience. Drew said: “Everyone in this audience has a great idea. Then he asked : What performance increases would you achieve if you were able to mine all of the great ideas that happen across your organization?  You make smart decisions all the time. “How would your business improve if you could leverage all those decisions?” His speech ignited the imaginations of all the attendees. drew-headshot-bio

The insight derived from using the  TrackResults analytics software is invaluable for timeshare industry decision makers. Managers and executives make informed decisions using their own empirical data, allowing them to maintain the highest efficiency, tweak operations and increase margins.

Timeshare Travels Unlimited Contracts for 3 Road Teams

TimeShare Travels Unlimited joins TrackResults with 3 Traveling Road Crews.

Says John C., EVP,

I wanted to thank you again for taking time to review our services this evening. I also wanted to let you know I chose TrackResults because of the ease of use for me and my staff, the ability to check my business’ analytics at any moment in time, the accuracy of the information, and most importantly the recommendations I received from friends and colleagues. I am very happy that I have chosen TrackResults to manage my information and not only have, but would gladly recommend it to friends and colleagues at anytime.

Timeshare Software TrackResults : Press Picked Up by the Wall Street Journal

Read it here http://online.wsj.com/article/HUG1743063.html

TrackResults-in-WallStreetJournal-crop

more…  http://online.wsj.com/article/HUG1743063.html

Upcoming Timeshare Industry Events

GNEX 2014 Timeshare Conference , Ritz Carlton Sarasota, from February  9-12 , 2014. http://perspectivemagazine.com/gnex

ARDA WORLD – American Resort Developers Association Annual , April 6 – 10 , Venetian Hotel, Las Vegas. http://www.arda.org/convention/


RDO5 – Resort Development Organization Annual Conference,September 18 – 20 , 2014 , London . http://www.rdoconference.org/


American Resort Development Association, ARDA Fall Conference,November 13-15, 2013 Washington DC. http://www.arda.org/fallconference/ ( Attended)