CATHY ENZ: Let's take a look at a completed HCAT analysis.
On the screen I've done all of the parts.
And so let's go through them.
You can see we have several competitors, and our own hotel.
We've identified five critical success factors.
We've weighted them, and as you can see, they total 100.
We've then ranked each of our competitors
and our own hotel, on a scale from 1 to 10.
And now let's shift our attention to the right.
On the right you can see a color coded set of results.
This allows us to do several different kinds of analyses.
We can look at the red, the yellow, and green.
The green is telling us that there's a high score.
And so our hotel scored high on security and perceived value.
It scored rather low on location, cleanliness, and service.
If we look at the overall rankings, we can
see that the hotel with most of the green and yellows, The Willows Lodge,
is ranked number 1.
Our hotel is ranked number 5.
We have two other scores for analysis, an absolute percentage score, which
is the actual value for each competitor, and the relative percentage score.
The relative percentage score takes the highest ranked performer,
gives them 100%, and then benchmarks everyone off of that highest performer.
These two analyses should reveal to us that using an absolute percentage, none
of the competitors are particularly strong,
with the highest being at 75.5%.
Now let's take a look at some sub-analyses.
We did the same analysis for meeting rooms.
And again we've got five different critical success factors, ranking
and weighting.
And again, we can see that our hotel, in this example,
ranked fourth out of four hotels, so we're not doing so well on this.
Again, the absolute percentage scores are relatively low,
but the highest performer-- and they were only a high performer
by a small margin-- was given 100%.
We can quickly go in and see that the red indicates what we're not
doing well at, and the green shows us our strengths.
If we wanted to begin analyzing what to do next,
we would start to focus on diminishing those particular critical success
factors, for which we scored very low.
How do we improve, are they really that critical, what are our next steps?
Let's take a final look at some common errors.
I've highlighted the common errors in blue.
Here are some mistakes that we've made.
First of all, you can see that we've given almost all
of our critical success factors a ranking of 10, the same weight.
This, for the most part, invalidates the ranking.
We've also not summed to 100, and you'll get
a warning sign that says the weights must sum to 100.
We could easily go in and give this one a 10.
Now we've fixed one problem-- they now sum to 100--
but we still have the problem that all of our factors are given equal weights.
So the first thing you want to avoid is giving the same weight
to every critical success factor.
The second problem you see is that we've ranked a certain factor
with the same value for each competitor.
When we do this, this invalidates the value
of having ranked that competitor at all.
In other words, if we're all the same this is not a worthy critical success
factor, and we might want to eliminate it from our analysis.
Notice that we've also given 10 critical success factors, which
is probably way too many, and we might want to go in and reduce that.
If we reduce that down to a smaller number,
again, we're probably in better shape, but we still
have to go back and fix this weighting, and we
have to get rid of these rankings that are all the same.
The last tab I want to show you is the summary tab.
The summary tab gives you an overall analysis
for each of your different sub-analyses.
It shows you where your hotel is, and it shows you the top competitor,
and then gives you a sense of relative performance.
The HCAT analysis is a very simple way to begin a conversation
about doing a competitor analysis.
I hope you've enjoyed this quick run through,
and have an opportunity to use this spreadsheet.
Good luck.