Data-driven: Trust, transparency and exceptional experiences in hospitality

NEVER has data held greater value than it does today. The business models of millions of companies in thousands of industries rely on it. However, as the severity and regularity of data breaches increase and transparency about what is collected and why decreases, public trust has plummeted. Data is said to have surpassed oil as the world’s most valuable resource. That’s because it has become invaluable for businesses in every industry, allowing them to better understand customer habits and preferences and, therefore, how to engage them.

Today whenever we visit a website, click on a social media link, or schedule an appointment or reservation, our online data profile grows. Every industry is embracing data, including hospitality. Whenever we make a reservation, order or pay via QR, or use a third-party delivery app, data is collected. While we’re aware as consumers this is happening, it’s rarely clear what is being collected, why and where it is stored.

There has long been uncertainty over who owns the data. ​​Third-party tech companies and hospitality operators both claim ownership – but whose data is it really? How can data collection become more trustworthy and transparent? And why should Singaporeans feel compelled rather than uncertain about sharing approved data with their favourite restaurants, bars and cafes?