Introduction

Big data has changed the way companies operate, giving new and improved meaning to digital business transformation. Companies gather data through online searches, analyses of consumer buying behavior, and other techniques, and use this data to make profit and to provide an overall better experience to customers. While big data is being used by many companies across the globe, the travel industry stands to gain a tremendous amount from its use.

digital-business

The travel industry includes a wide range of business such as rental car companies, hotels, airlines, tour operators, cruise lines, etc. Each of these companies makes use of big data to improve overall customer experience and to meet the needs of users. Through the use of big data analytics, travel companies are able to target individuals for their unique needs, tailoring special promotions, deals, and experiences.

For example, a resort in Las Vegas may determine that its customer base is largely comprised of youngsters, so it may host a concert with a famous pop star to attract more visitors and to increase its profit, while at the same time, giving customers a better experience.

The travel industry may also use big data to improve operations in numerous ways. Some data analysis may reveal that one aspect of marketing is ineffective, so a company can improve their marketing strategy. Another company can learn that customers are choosing the competition more heavily because of better price, promotions, or a perception of better quality.

Big data can also provide real-time travel assistance to companies by providing insights about the current locations of customers, via mobile devices, as they travel around the world. For example, if a travel app verifies that your smartphone is situated by a well-known amusement stop, eatery, or other key location, it might highlight special offers or arrangements that you can use to get a good deal on a visit to these popular spots. Similarly, customers may also utilize supportive travel tips or connections, which may be more accommodating in some cases.

Application of Big Data Analytics

  • Personalized Customer Experience — Big data analytics help make travel more responsive and focused on the traveler’s needs and preferences.
  • Superior Pricing Strategy — Big data analytics adequately supplanting conventional manual fare analysis with smart robotization by gathering, ordering, sifting, and breaking down existing and real-time data from different sources. Dynamic analysis of competitors pricing will help travel companies create a better pricing technique for travel. Big data analytics permits travel sites to conjecture price change over time, for better serving their customer needs.
  • Customer Analytics & Service Augmentation — Observing customer purchasing trends, protests, and inputs by breaking down information collected from online forums, social media platforms, front desk, call center conversations, etc. will distinguish client purpose and help with planning business techniques.
  • Marketing & Sales Optimization — Big data analytics is increasingly being utilized to optimize marketing efforts on targeted travelers by modifying offers in light of traveler necessities. By analyzing a vast quantity of unstructured data, service providers will gain valuable insights that will empower them to deliver targeted offers at the right time, place, and through the right channel. Service providers can also track their clients and make location-relevant, real-time offers by enabling GPS technology with data analytics.

Challenges

  • Data Aggregation

One of the most significant obstacles of using big data in the travel industry is capturing data. A huge amount of data is generated daily, and the challenge lies in converting this data to derive customer value. There are numerous reasons why a data set can be deficient or erroneous, however. Customer data is divided over numerous, diverse frameworks, which can either be exclusive or off-the-rack. Many companies do not have a common storehouse of data on their customers.

  • Data Quality and Cleanliness

The travel industry largely revolves around human behavioral analysis – a complex field where the number of variables is extremely high, Therefore, there is huge potential for big data management programs and analytics hubs in light of the fact that currently, many simply draw the wrong deductions and overemphasize connections that may have little or no bearing.

  • Rising Customer Expectations

Travelers expect personalized experiences to reflect their likes and dislikes, but the insights generated from the collected data are limited.

Bringing all this together into one reliable data warehouse requires a great deal of investment, especially for bigger companies, which rely upon legacy technologies for customer loyalty data, complaint logs, and transport tasks.

Conclusion

Predictive analytics through big data is primarily reforming all aspects of the travel industry, and companies that do not adapt will be lagging in the data-led industry. Big data analytics is enhancing customer experience, expanding business productivity, and revenue management in travel industry. Mastech InfoTrellis – a leading Data & Analytics company – is helping companies rise to the forefront of this change. Wouldn’t you like to?

 

Technical Consultant Aradhana

Aradhana Pandey
Technical Consultant, Mastech InfoTrellis



A recent report by IDG stated that 73% of all enterprises have at least one cloud-based application, while 15% intend to adopt a cloud-based application or platform within the next 12 months. Organizations, successful in their digital business transformation initiatives, clearly see the importance of cloud computing within the enterprise. But for those still in limbo about making the change, here are a few reasons why moving to the cloud could be the best move yet.

  1. Cost-Efficient

While some organizations may be hesitant to adopt a cloud-based platform due to its costs, it’s essential to look at the ROI of such a utility. Once on the cloud, easy access to company data will speed up existing operations and give new initiatives, a much-needed boost.Additionally, many cloud-based platforms offer a pay-as-you-go service, allowing you to utilize what really matters to your business. As a result, the long-term cost benefits of adopting a cloud-based platform over an on-premise system are plenty.

  1. Secure

A major source of concern for a lot of companies looking to move to the cloud is security. How secure is the data when it’s not onsite? Interestingly, having a cloud host focus solely on the security and upkeep of the whole system is more efficient than a company’s internal IT team, where efforts may be divided across numerous IT issues. Some sources even claim that companies have seen significant security improvements after moving to the cloud, as companies can control user rights, and the type and frequency of data being transmitted.

  1. Mobile & Flexible

In today’s rapidly-evolving business landscape, capacity and time is of the utmost importance. A cloud-based platform affords users the opportunity to manage dynamic data requirements easily, and gain insights from that data, wherever they are.

  1. Insightful

One of the most clear-cut benefits of a cloud-based platform is the platform’s ability to generate valuable, actionable insights through built-in analytics capabilities. Those insights can later be used for enhanced decision making, increasing an organization’s ability to meet and exceed its targets.

  1. Collaborative

The saying, “teamwork makes the dream work” could not be truer here. Using cloud technologies allows employees to work together on complex tasks, regardless of where the employees are located. Information can be shared easily and securely through the platform, increasing engagement and productivity. Take the cloud out of the picture and things won’t be as easy anymore.

  1. Quality-Assured

By keeping all your data in one, central location in a single, unified format, the chances of any issues in data quality drastically decreases. Data remains consistent and an up-to-date record of versions/updates are maintained to ensure transparency and mitigate confusion.

  1. Managed Risk

A huge benefit of cloud-based platforms comes to light when disaster strikes. Certain circumstances will always be out of your control, but your data shouldn’t be one of them. Instead of trying to pull through downtime or destruction of your on-premise systems, data backed up on the cloud allows your enterprise to remain agile, responding to customer queries and strengthening brand reputation around the clock, even in the face of adversity.

  1. Automatically Updated

Everyone hates waiting around for those pesky system updates to be completed. Fortunately, cloud-based platforms are automatically updated, saving valuable time, money, and effort on otherwise unnecessary system update strategies and implementation.

  1. Competitive

Overall, it’s quite clear to see the benefits of moving to the cloud. And reaping these benefits could place your company at a distinct advantage when compared to your non-cloud-based competition. First mover advantage guarantees you’ll be farther up the learning curve than your on-premise counterparts – a significant edge in a day and age where you could be relevant one day and completely gone the next.

  1. Sustainable

There’s no better way to wrap this all up than by making the very important point that not only do cloud-based platforms help increase business efficiencies, but they also help reduce the waste created by physical technology, and in the end, save the planet from our carbon footprint. From the work to the world, going virtual could not get any better!

While cloud computing has been around for many years now, the rapid rate of technological change today has brought about new and improved ways of handling and utilizing enterprise information for increased business output. Mastech Digital – a leading provider of digital transformation services with specialties across the SMAC stack – has been helping business of all sizes – from SMEs to Fortune 500 companies – realize the value of digital technologies, elevating output and ensuring increased efficiencies every single day.

 

  Anna Hladek
 MSP Manager