Big Data has already transformed most areas of industry, business, research and various other parts of our lives. Like for every other industry, big data analytics is benefitting the travel industry too. It is said to be the next big thing in the travel industry. The ever-growing chunk of data that is created every second online by travelers is being processed by big data analytics to give businesses an edge over their peers
Within the travel industry, big data is one of the most important concepts to get to grips with, because most other businesses are already utilising it and reaping the rewards.
First, it is important to establish what big data actually is. Essentially, it is a term used to refer to large data sets, that are too big to be processed through more traditional processing methods. This kind of data can originate from internal and external sources and is typically associated with customer views, habits and behaviour. Due to the huge amounts of data that are now collected by businesses of all kinds, big data has become a top priority for many, and this is especially true in the travel industry.
3 Ways Big Data Can Help Those in the Travel Industry
Within the travel industry, marketing can be difficult to get right, because potential customers are so varied in who they are, where they come from, and what they are looking for. However, big data can help tourism companies to adopt a more strategic approach to their marketing efforts, targeting the right people in the right way.
Hotels and other businesses in the travel and tourism industry have a vast array of interactions with customers, and each of these interactions can provide valuable data, which can be used to improve the overall customer experience. This data can include everything from social media conversations and online reviews to service usage data. Used effectively, this information can reveal which services customers use most, which they do not use at all, and which they are most likely to request or talk about.
The data aggregated from the customers can be used to personalize various services like travel booking to make navigation easy. In fact, the biggest application of big data in the travel industry would be the extensive personalization of offerings made to enhance the customer experience. Like for instance, with big data, it is possible to come to an informed prediction as to who prefers hotels that are pet-friendly and who wants a hotel similar to that of their friends and similar patterns.
Insight into people's needs
Big data can help travel industries to identify patterns in consumer behavior and understand the ongoing requests of their customer base to provide offerings that they may need in the future. A travel booking startup, Hipmunk, analyses airline data, customer profiles, reviews, and social graphs to cater search results based on each shopper's needs and help accelerate the process of shopping for flights. Hipmunk gives customers what they need while looking out for travel accommodations, by analyzing all the data given to it, averse to the customers having to find it on their own.
Personalising the traveler journey begins with understanding traveler behaviour and predicting what they will need even before they begin the booking process. A personalised journey affords travelers a stress-free travel experience that’s perfectly suited to their preferences. Using past traveler behaviour and tailored and personalized prompts to understand travelers needs and wants AirRentalz can offer truly unique services for hotels.
It’s hard not to see the influence of big data and analytics on the travel industry. From airlines to hotels and every market player in between, access to relevant data means better decision making and more seamless experiences.