Big Data gained from travel industries can increase profits of both industry and customer. A traveller leaves behind a lot of data for the travel industry. While we book a flight ticket all the research, planning flight comparisons, bookings, cancellations and feedbacks are analysed by the travel industry to gain amazing abilities. The experts are improving big data analysis based on the volume, velocity and variety of the travel data gained.
Some of the amazing abilities gained by the travel industries are :
Betterment of customer experience :
By analyzing the actions of the traveller and also information from social media Big Data Analysis can filter the recommendations of the traveller according to his/her needs which obviously make a good impact of the customer on the agency.
Developing Pricing Strategy :
Taking a flight booking example let us see how Big Data helps in developing best pricing strategies. By analyzing the statistics of which flights a customer visits how long does he stays in that page and does he book the flight or not the agency can predict what standard of flights does that customer likes and would prefer to book in the future. Based on the prediction next time when the customer visits to book a ticket he/she is able to find the types of flight he intended to book. This saves the time of the customer as well as increases the chance of a flight to be booked
In the same context another important feature is the time-based pricing. Using booking histories it can be predicted that at which time most flights are booked. Using that information the flight agencies increase the price of the flights at those times and thus gaining more profit.
Smart marketing :
By the vast amount of unstructured data service providers can get valuable information about the customers which can help them send proper offers to the customers at the proper time. By GPS technology service providers can track the live location of the customers and can provide certain recommendations like hotel, cab, etc.Also lodging service providers will build more hotels on places which is a hot tourist spot that is where higher tourists visit and less hotels where less tourists visits.
Big Data Analytics is proving to be the most profiting element for the analytics-based organizations in the perspective of extracting valuable insights from the relatively large sets of data. At present, the Big Data Analytics experts are considered to be one among the highest paid professionals around the world. Becoming a certified professional expert in this disruptive technology will surely help you to get to the top of your Big Data Analytics career ladder.Digital Defynd Big Data course will help you in this process. So Digital Defynd will be a great decision.
Studying the sale patterns using Big Data technology promise a better understanding of the revenue and better negotiations with the suppliers. Furthermore, a geofencing database can be used to locate the most suitable areas for building a hotel ensuring heavy footfall. For example, while choosing a location in Thailand, it is ideal to choose a place with activities such as snorkeling and other top attractions within reach.
Strategic Marketing & Competition
Many clients don’t care much for the charge but rather look for a unique adventure. Travel engines implement algorithms that cultivate offers to target clients precisely by examining the historical data and recommend air travel, hotels and car rentals based on their preferences. Coupons are generated based on the choices drawing them furthermore.
Big data helps in providing a realistic view of the current market competition. Features of the opponent are studied within hours by big data models that can in turn help identify flaws in the company.
So, all the points show how big data is changing the travel industry. In this competitive world where all agencies are trying to exceed one another, all are adopting Big Data analysis to refine their recommendations and attract more customers. Thus increasing its demand day by day. Combining Big Data Analysis with Machine learning we can bring a booming change in the travel industry which is beneficial for both industry and customers.So, the time is not far where bookings can be done at a glance and also the industry can make a huge profit still satisfying the customers.
Last updated:5/24/2020 2:40:41 AM