Big Data and Analytics

Consumers

Travel

WANDERLUST? BIG DATA UNDERSTANDS.
Wednesday, November 9, 2016 6:11:00 PM

Travellers today face a market brimming with reviews, recommendations, the latest options and a lot more. Travelling has a lot to do with right planning and good choices. But, spare a moment to give it a second thought. Wouldn’t life be sorted if travel became so easy that it would take just a few seconds to get your tickets booked for your dream holiday? What if you open a website and it shows you the best mountaineering spots without even asking for your preferences and later, you get your seats booked in the airlines you usually prefer travelling? Big data, today has made all of this possible by offering alternative ways to search for travel- including everything from airlines to hotels.

From improving customer experiences to enhancing business processes for agencies and operators, big data can bring in numerous opportunities for the travel industry. Here’s how-

  • Future predictions? Check.

With predictive analytics coming into play, it has become easier for the travel industry to know their customers even better than they used to. Recommender systems working on the principle of predictive modelling, provide both travelers and service providers a solution to work on any situation. For example, there are thousands of deal for airlines, hotels and holiday packages today. But, which one is best for you? Recommender systems propose the most valuable and relevant option for user while optimizing revenues for providers.

  • Travelling is worth more than money ever will be- True. But, isn’t it even better with good pricing strategies?

Price is also a deciding factor when it comes to planning for a holiday. Big data analytics can effectively use smart automation by gathering and analyzing existing data from multiple sources against real-time data to obtain the best results. Big data analytics help providers to analyze the competitors pricing and serve the budget specs of customers in a better way.

  • Stay on the lookout for trends

You wouldn’t know what’s happening on the other side of the world as long as you aren’t informed about the fact that the travel industry has a lot to do with trends- both old and new. For example, top travel destinations change every year but most of them remain almost the same. Know the reasons behind why some of the destinations have ranked lower this year. Discoveries like these help service providers or travel companies to redesign their marketing strategies keeping in view expected customer demands and ways to maximize profitability.

  • Travelling just got personalized!

Service providers can leverage personal data of the traveler from a number of sources including social media platforms, reviews from travel websites and a lot more. It can help further in providing a more focused approach to offer better services to customers through big data and analytics further improving customer relationship and strengthening business processes.

  • What your customers want is a matter of concern, after all.

Requests from customers can be used by travel agencies to identify different patterns in the travellers behavior and to predict what they may want in future. For example, a recent travel booking startup, Hipmunk, analyzes social media profiles, previous request and data to predict what’s best for the customer without even asking for their preferences. Planning for your next holiday just got easier. Thanks to big data!

With even Disneyland using wearable technology for its travellers, it’s more than likely that big data is all set to revolutionize the travel industry by providing a better, completely personalized travel experience for its customers! Happy travelling!