While big data is still a ‘big’ challenge for some industries, there’s no denying that it is the single biggest differentiator that is transforming the travel industry today, at an unprecedented pace. From travel management to airlines, hotels, and cruise companies- leveraging big data analytics to improve customer experience and businesses has never failed for the travel industry since the advent of big data solutions. Big data, by providing greater insights, deeper knowledge, and risk-free planning, benefits both travelers and travel agencies.
Personalization is a primary tenet of the ‘Digital Oil’ in the 21st century- big data analytics. With the deluge of data and massive volumes of consumer usage data, organizations are able to achieve new and accurate insights to drive greater revenue growth. With growing reach, the travel industry is catering to millions of travellers. In order to meet their aspirations and goals in a systematic manner, companies are on the lookout to embrace next generation customization of the entire traveler experience. Even though the adoption of big data analytics is less today vis-à-vis manufacturing and retail, the travel and tourism industry has started seeing the benefits and advantage of investing in big data analytics models. Some of the big hospitality industry players already leveraging big data analytics include Kayak, Hipmunk, and British Airways. While the technology is evolving rapidly with advanced analytics, wearables, and limitless opportunities, the travel industry will soon encounter more revolutionary changes in the coming years.