Reviewing Business Intelligence Insights

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Need to know when your venue falls behind your set goals or competition, but don't have the time to sift through all the data in the Business Intelligence dashboards? The Insights page is designed to highlight performance metrics, trends, and outliers of vital interest to you. With its help, you can quickly determine where you need to focus your efforts to improve the overall performance of your venue or portfolio.
 
NOTE: The Insights page is only available to Business Intelligence users who have access to the Comp SetHotel Performance, or the Enterprise Dashboard.

1 Access the Insights page. Go to bi.app.cvent.com and log in with your Cvent credentials.

2 Review the insight cards. By default, you can view up to 11 insight cards for your venue. If you are a multi-property user, you can select a specific venue in your portfolio, from the dropdown menu in the top right.

Each insight card focuses on a specific metric and will only display on the page when that metric drops below a certain threshold or when specific rules are met. The insight cards include:

 
  • Average Response Time - Only appears when your venue takes longer to respond to RFPs than your competitive set average. The card will display how many additional hours your venue needs to send a response, compared to the competition.
  • Over Need Dates - Only appears when your venue fails to send a response to RFPs with at least one event date falling over your venue's need dates. The card will display the number of RFPs you have received in the last seven days.
  • Bid Rate - Only appears when the percentage of RFPs your venue sent a proposal to is lower than 50% of its set goal or the competitive set average. The card will display how far behind your venue is. Two insight cards will display if the bid rate is both lower than the set goal and the competitive set average.
  • Sales Managers with Slow Response Times - Only appears when your venue's sales managers have taken longer to bid on RFPs than the competition. The card will display how many sales managers have fallen behind the competitive set average in terms of bid time.
  • Awaiting Response - Only appears when there are RFPs in Waiting Proposal status for more than four days. The card will display how many RFPs haven't yet been answered to.
  • Turn Downs - Only appears when RFPs are turned down even if the planner is open to alternate dates. The card will display the number of RFPs that have been turned down.
  • Awarded to Competition - Only appears when RFPs were awarded to the competition. The card will display the average number of room nights that were won by the competitive set.
  • Outlier months, Proposed ADR - Only appears when the average daily rate proposed by your venue is significantly higher or lower than the competitive set average in the upcoming months. The card will display the number of months when the average daily rate differs from the competition.
  • Response Rate - Only appears if the percentage or RFPs your venue responded to is lower than your set goal. The card will display how far behind your venue is.
  • Arrival Months Behind Pace - Only appears if the number of RFPs received for a future arrival date is lower compared to the same time the previous year. The card will display the number of upcoming months where the pace of received RFPs is behind.
 
NOTE: The insight data is updated on a daily basis.
 
User-added image

You can click View details within an insight card to access graphs or tables that display additional data for that specific metric. These help visualize the differences between your venue's performance and your set goals or competition. If you have the necessary permissions to view a venue's RFPs, you can drill down to individual RFPs by clicking their name in a table.

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If no insight cards show up, your venue is on the right track to meet your set goals and outpace the competition.

3 Create, edit or remove insights if necessary. If you want to track specific metrics that are not covered by the insights mentioned above, you can create your own.

To edit an existing insight, start by clicking Manage Insights in the top right, then locate the insight you want. Hover over the manage insight icon to its right and click edit insight. Make the changes you need to its metric, threshold, or time range.

Click Save Insight when you're done.

To remove an insight, hover over the manage insight icon to its right and click User-added image. Confirm your action by clicking Delete Insight in the next prompt.

 

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