Crowd predictions of performance at Marriott Hotels, Radisson Blu Hotels, and Choice Hotels
Crowd Prediction•1 minute read
Decision-makers from the operations function at Marriott Hotels, Radisson Blu Hotels and Choice Hotels wanted to predict how operational performance affected the financial performance of the firms over time.
The project approach
The project employed a crowd ideation phase to reveal the top five areas relevant for predicting the financial performance of the hotel companies. Based on the identified parameters, and throughout 12 months, 600 employees from the three hotels were engaged in a crowd prediction phase. The employees' tacit knowledge was harvested monthly throughout the study.
- Six hundred respondents were engaged.
- Five primary drivers of financial performance were identified: competitiveness, team performance, managerial performance, customer satisfaction, and innovativeness.
- The predictions from frontline employees explained 55% of the fluctuations in financial performance.
- Predictive insights enabled decision-makers to make proactive decisions.
- The predictions served as an organizational performance barometer.
- Mindpool's Head of Research, Carina Hallin (2019), "Exploring the Strategic Impact of Service Employees' Tacit Knowledge." www.researchgate.net/publication/306120125_Exploring_the_Strategic_Impact_of_Service_Employees'