engleski

Some considerations about artificial neural networks in hotel industry: state of the art and future developments

Purpose – Technological developments, emerging business trends, globalization and changes in tourist behavior require new ways of measuring and forecasting business performance. The purpose of this paper is to provide a comprehensive insight into the importance of AI, primarily artificial neural networks (ANN), their usage and implementation in hotel industry. The crucial benefits of an implementation of ANN in hotel industry are reflected in their ability to collect, analyze and interpret enormous data quantities. On top of that, ANN is capable of an automated generation of advanced business models and forecasts. These capabilities enable a redirection of human effort to more meaningful activities. An improved in-depth quantitative analysis and digitalization provided by ANN significantly contributes to an improved business performance in hotel industry. Methodology – An extensive desk-research of the existing literature was carried out. Secondary data was used to establish a conclusions concerning artificial neural networks usage potentials in hotel industry. Findings – The application possibilities of ANN as a data analysis and forecasting tool that enhances business performance are practically endless. The growing importance of innovative technologies for a successful business practice makes scientific approaches and the necessary theoretical background inevitable. So far, ANN have provided better data analysis and forecasting results than any other quantitative forecasting method. This fact underscores the need for a collaboration between theoretical research and industrial practice. Contribution – An extensive theoretical rationale is provided for the adoption of ANN as an innovative tool for data analysis and forecasting for hotel industry. ANN as a data analysis and forecasting tool redefines the issues of hotel industry performances. The combination of tourism and AI provides a new level of sophistication in hotel industry.

hotel industry ; artificial neural networks ; forecasting ; analysis tool

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