Try big data with high-volume, velocity, and a variety of information that demands cost-effective yet innovative forms of data processing to allow improved insight, decision making, and process automation to yield profits in the travel industry.
FREMONT, CA: The digital revolution has detached the middle man or third parties from the travel arrangements of people and has given many opportunities to the companies that work in the travel and tourism sector. With the help of the technologies in this digital world, the companies can follow the tracks that each customer continuously that they leave online, often analyzed as the big data.
Keep an Eye on the Competitor:
Big data technology can be utilized by the travel and tourism sector to get a better understanding of the entrants in the industry and learn their strengths as well as weaknesses to stay a step ahead of them. The companies can learn whatever is required to improve the functioning on the other hand; can gain knowledge of strategies by studying the mistakes committed by the competitors. The data needed for this provision can be collected from endless sources available on the internet, such as social networks.
With new opportunities, several travel-related blog writers have come up with different ideas and experiences about hotels, restaurants, and activities that they share on the vast arena of social networks. It takes effort to keep the formless mass under control; the analysis of big data can help in gaining important support in building orders and focusing on the priorities both negative and positive, which can bring improvement.
To sell the appropriate product to the right person at the correct time can be considered the most tangible way to capitalize on the results in terms of revenue and profits. Big data helps to cross-check the data that have been collected internally to the ones that have been accumulated externally, making it the ideal way to create predictive analysis and adjust the facilities accordingly, such as raising prices during the peak demand to maximize profits.
Serving the Exact Needs:
In the tourism sector, it is essential to handle the customer with care as the company’s reputation and loyalty depend on it. Analyzing big data can help in interacting with the customers, and it acts as a source for the data to be collected, from an omnichannel perspective. Personalization can go beyond big data and can be considered as the “smart data” or “deep data,” referring to individuals and their uniqueness.