Smart travel: it’s all about data. Why data and analytics will be more crucial than ever in 2013. Insights and a great event coming up!
Costumers are driving change in the travel industry. Or should we say their frustration is, as pointed out in a most interesting webinar on bundling organized by @Tnooz and @Amadeusnews. In an increasingly complex travel scenario, the traveler’s expectations are -really- quite straight-forward: please provide me with full, transparent information about my choices, make it easy to go through booking and payment processes, and do remember me. I am your customer. You should know by now what I am looking for and what my preferences are…
These expectations probably have not changed too much in years, but what they imply today poses a huge challenge for the travel industry. Travelers use Internet extensively and are permanently connected via mobile, they are savvy shoppers and are willing to share personal information as long as they see a benefit to it, i.e. better service and less hustle. They share information and they ask the travel industry: if I am providing you with the data about myself, why don’t you use it?
Travel services providers are finally recognizing the value of data. Data is needed to really know your market, to develop business lines, to draw marketing strategies and to learn about the results. The availability of rich travelers profiles allows for ancillary bundling tailored to specific segments. Revenue, after all, relies heavily on the value behind the product - which today means the full interaction with the brand.
For the travel industry it is imperative to fully understand the opportunities and implications of the new scenario. We signed up as early birds and are looking forward to the Smart Travel Analytics Show organised by @eyefortravel next January in NYC, where data and analytics in the travel industry will be discussed.