Big data to “change travel industry”
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The travel industry stands at a ‘big data crossroads’ with the potential to shake up the booking experience for both businesses and consumers, according to a new study.
The report, issued by Amadeus and backed by Harvard professor Thomas Davenport, said companies should make big data a priority so that booking can become “more intelligent and responsive”.
The use of big data will essentially be able to help companies process and maintain data quicker while offering more reports and insights into bookings to help plot future growth plans.
The report said its implementation should be acted upon now and will allow for more innovation and stronger relationships with customers while helping with revenue management. However the skillset and the fact data is spread across various systems could hold back any major developments for companies unless streamlined.
“The travel industry stands at a big data crossroads today, with new technologies and techniques offering the potential to translate increasing volumes of data into higher profits and more efficient operations,” said Davenport.
“Some leading companies are pioneering the use of big data and already seeing a huge impact. Airlines, airports, hotels, rail companies and travel sellers need to ask themselves if they have a big data strategy in place, and if it will allow them to be at the forefront of this opportunity,” he added.
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