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Requirement

Data may be reported in daily time granularity and higher

Functional Area

Reporting

Industries
Hospitality
Tags
Time Granularity
DETAILS

Description

Time granularity in Corporate Performance Management (CPM) software refers to the level of detail or precision in reporting time-related data. This could vary from reporting data on an hourly basis, daily basis, weekly, monthly, or annually. In the hospitality industry, having the capability to report data at a daily time granularity and higher provides enhanced visibility into business operations and assists in more timely and informed decision-making.

Example Use Case

Scenario: A mid-market hotel chain uses CPM software to monitor revenue and occupancy rates. The management team wants to analyze these metrics on a daily basis to identify trends and respond promptly to any variations.

Solution: The CPM software allows data to be reported in daily time granularity. This means revenue and occupancy are broken down to daily data. This allows them to forecast more accurately for their restaurant, parking, convention services, and golf revenue.

Considerations

The deeper you go with time granularity, the more work you create when developing a forecast. This is because, in general, it expands the number of fields you must populate with data by significant orders of magnitude. Hence, we do not recommend daily planning outside the hospitality industry (where it is crucial).

Outside of the work it creates, also understand the amount of data is requires. Instead of 12 months, you now have 365 days. This is a 30x+ increase in data storage and calculation requirements.

Also consider comparison reporting when attempting to compare equivalent days in the forecast to past performance. Simply selecting the same date year over year is meaningless. For example, Black Friday in 2022 was on November 25th, whereas in 2023 it was on November 24th. This means the user needs to understand this nuance or the system should prompt the user.

Questions to Ask a Vendor

  • Scalability: Can you system handle daily time granularity without coming to a screeching halt?
  • Post-Implementation: Is it possible to add daily time granularity after we've already implemented Weekly or Monthly?
  • Year over Year Comparisons: How does the system compare equivalent date performance over multiple years?