Do you remember the last time when a notification comes to your mobile phone with an offer of %50 off your next flight? Have you ever asked yourself how the travelling agencies make offers like this and still can get revenue?
Well, Big Data has an important role doing that. With all kinds of data available in this industry, business can create great insights and predictions that can save us from unpredicted loss or to make more money.
And these are the top benefits of using big data in travelling:
1- Revenue Management
At the first glance, you may think that companies are losing money when they make such offers and discounts on their trips. Or you could think of it as there’s a probability of loss or win when doing such a thing.
In fact, Big data has a big role in this part. As most of the companies want a way to maximize their profits, reach their right customers, and attract their audience with engaging offers, this process can not be done with small data only. It needs both internal and external data.
–Internal data: can be the data from the company itself like about their customers, reviews, revenues, costs, and more.
–External data: can be the data from outside which the company can not control like the market price, the market conditions, their competitors, the weather, and so on.
With all these kinds of data, the company can make predictions of the future whether there will be a lot of demand at some time or the costs will rise for the business. In the revenue system, the more data, the better it can understand it and make good predictions.
2- The Reputation Management System
In travelling, hotels to stay are a great challenge for a lot of tourists. They want to find good hotels with good services to stay in, easy ways to pay, and stand out of the competition with other hotels.
In this kind of challenge, customers may go through the hotels websites, Facebook pages, and Google reviews to help them make the decision on which hotel they should stay.
With these different sources above, it’s really hard for humans to go through them without the help of big data and data engineering. From these data, we can take a look at positive reviews, positive and negative opinions, recommendations, and feedback.
3- Strategic Marketing
A famous quote in marketing says “when you speak to everyone, you speak to no one”. That’s why it’s preferred to specify your target audience of your business in order to increase your marketing sales.
With the big data help in delivering facts and figures to find insights, it will be easier to know your customers, their routine, their habits, their online activity, and more.
With all of this information, you can make your marketing efforts in a strategic way.
4- Customer Experience
At the same time the customer experience data can help in the reputation system, it can help also in the customer experience. As customer experience is an important factor that decides whether the customer will be loyal or this customer will not return again. Or even worse, will this customer talk negative about his experience here and tell others not to come again.
Well, with all the data gathered from any customer interactions that happen whether they’re in the hotel or online on website and social media, this can reveal which services the customers care about the most. This also can help in taking decisions and actions to improve the customer experience in the future.
5- Market Research
When you process data from competitors of your hotel for examples you may see useful information like the services they provide, the offers they make, and so on. With this information and with the help of big data, you can take advantage of it when you compare your service with the other competitors’.