Hospitality Management
Article | July 4, 2023
In 2020, the number of suspected online travel fraud attempts in the U.S. jumped by 136.6%. Two years later, the online travel fraud “industry” is still going strong, making online travel agencies and tourism businesses lose their money and reputation.
"Traveling has always been when people are more vulnerable. A few hundred years ago, the perpetrators were pirates or highwaymen. Now those criminals are still out there, but they've changed their methods to focus on digital attacks instead."
-Caleb Barlow, ex-Vice President of X-Force Threat Intelligence at IBM Security.
Mitigating fraud risk is important in any industry, but it is especially important in industries like travel where competition is fierce and margins are shrinking. The high resale value of its digital goods makes the travel industry vulnerable to fraud.
Fortunately, advanced solutions that prevent fraud have shown great results in the airline and travel industries. Machine learning and artificial intelligence tools are improving in efficiency. With their help and a variety of other methods, a good travel fraud prevention team can curb fraud in the travel industry, increase profit margins, and cut down on the costs and time taken for manual reviews of transactions to prevent financial losses.
How are Online Travel Agencies Mitigating Fraud Risks and Safeguarding Revenue?
Online travel agencies need to be on their toes to preserve their revenue and reputation, and the integrity of their operations to grow and sustain their businesses. Modern online fraud prevention methods can protect you from fraud without jeopardizing the customer experience. Let us look at these methods:
Implementing Machine Learning-based Solutions
Machine learning-based models can be the backbone of your fraud protection strategy. These models can recognize patterns and predict outcomes. They help you identify anomalies in customer behavior in real time, flag an account-takeover attempt, analyze transaction riskiness, and block them before they result in a chargeback. ML-based fraud detection software like Signifyd and Riskified detects illegitimate activities related to payments, account creation, purchases, and chargebacks. They monitor websites, networks, and applications for fraud and prevent digital payment fraud.
It is important to remember that you need to strike a good balance between these preventive measures and your customer experience, so you do not lose business by focusing on only one aspect.
Transaction Monitoring
This method focuses on the credit card used for booking. Using an intelligence tool, check if there is a mismatch between the user’s IP address and their billing information and if the same user is making too many bookings from the same account or same card. Combine these insights with user verification and fraud scoring tools so you can reject suspicious transactions automatically. Also, keep an eye on changes to bookings to avoid problems, and follow the Payment Card Industry Data Security Standard (PCI DS S) to make sure card payments are as safe as possible.
User Profiling
Gather important customer data like email addresses, credit card information, loyalty points, and social networking handles. Behavioral data on what the customer does on your website or your mobile app, the devices through which the customer connects to the website, and their email address or location can help prevent fraud. Additionally, online travel agencies can verify users in the following ways:
Use an address verification service (AVS) and a card security code (CVV or CVC). Verify scanned ID documents using SaaS products to add another layer of security to every transaction.
Create a blacklist to block specific users if you notice any suspicious attempts.
Use device fingerprinting to block devices previously associated with fraudulent activities.
Anti-ATO Methods
To prevent account takeover attempts, deploy two-factor authentication for travel agents, and 3D secure PIN codes for end customers. Biometric technology and mobile payment wallet apps like Google Pay, and Apple Pay can curb swindlers from getting into a customer’s account without secure pins or fingerprints.
Verify Suppliers
Set up a process for verifying every supplier before making any payments. Check their business license, business reviews on Google, and check their Google Street View to confirm if a hotel actually exists at the mentioned address. Ensure that there is no correlation between a steep increase in hotel prices and booking activity because it could be a hotel price spike scam.
Block Bot Attacks
Any kind of abnormal spike in web or app traffic can be an indication of a bot attack. Real-time protection against bots can be a great way to handle illegitimate traffic. Compare every website request against the in-memory pattern database using ML and AI to check and block bots swiftly. Implement networking that can safeguard your domains within milliseconds upon detecting a bad bot.
Control Friendly Fraud
Chargeback abuses are hard to prevent. The only way to fight back is to document compelling evidence to prove that the said transaction was legitimate. Document order forms, tracking numbers, online travel agency customer communication logs, any kind of travel product redemption evidence, and confirmation for items delivered to an address that matches with the address verification service (AVS).
Air France Sped Up Manual Reviews By 70%
Air France wanted an easy way to access reliable information on potentially risky transactions. So they chose SEON’s Intelligence Tool.
“The time spent by Air France analysts on manual reviews is down by an impressive 70%.”
- Eric Facquet, Deputy Manager of Fraud Prevention at Air France
Summing It Up
Tackle online travel fraud head-on while keeping in mind your end customer. You must protect your customers from fraud in a way that is strong, practical, and well-balanced. This way should cover the customer's entire journey with you, both literally and figuratively.
FAQ
Which software tools can help with fraud detection?
Fraud detection software tools such as SEON, ClickGUARD, Riskified and Oracle Adaptive Access Manager can help detect fraud.
How can you improve fraud detection?
Use machine learning models to automate processes for fraud investigation, and regularly update rules for detection and how to handle alerts.
What does fraud detection software do?
Fraud detection software regulates accounts, payments, purchases, and events in real-time to detect any fraudulent activities. It also protects sensitive company and customer data.
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Business Travel
Article | May 17, 2023
With the travel and tourism sector having taken a gut punch this year amid coronavirus concerns, many business groups and professionals are seeking new and innovative ways to enjoy memorable team events, proffer inspiring staff incentives and have some impactful one-on-one with customers and clients particularly those activities that inherently facilitate large crowd avoidance. With that, I’ve found a fabulous option in the BMW Performance Center West. This permanent performance driver training facility, located in Thermal, California near Palm Springs, offers one-of-a-kind experiences for both business groups and individuals that are taught by BMW professional driving instructors on a private course.
With up to 5.1 miles of expansive track layouts, the facility offers various driving programs and schools allowing participants to get behind the wheel of “the Ultimate Driving Machine” and learn key skills. Things like proper vision, basic car control, panic braking, handling, last-minute emergency lane changing, distracted driving, high-speed control and precision driving are all taught. Plus, it’s just plain old adrenaline-inducing fun.
The facility, which opened in 2015, offers various driving solutions for people of all ages and capabilities, and they also have special programs and meeting space for private and corporate groups. So, your entire department or company at large can get in on the action! There are multiple one- and two-day driving schools and experiences, private instruction, customizable events and the opportunity to experience the expansive, luxurious facility in either BMW or MINI vehicles.
Here are my top five reasons why this facility is a must-visit vacation destination, with the finer details courtesy of the BMW Performance Center West:
1. Private Instruction in the latest and greatest models
Instruction at the facility encompasses the full line of the newest BMW and MINI vehicles. In fact, there are reportedly over 100 new models available for activities at the BMW Performance Center West.
Also notable is the fact that all BMW driving experiences and schools are taught by professional BMW Driving Instructors, many of whom are professional race car drivers with dozens of wins. They even hold two world records: Longest Drift in eight hours (232.5 miles) and Longest Tandem Drift (39.25 miles).
These BMW Professional Driving instructors teach you how to handle your vehicle in challenging situations and conditions including accident avoidance, cornering, drifting, car control, braking and more. A skidpad allows drivers to feel oversteer and understeer, simulating hydroplaning or driving on black ice and providing the opportunity to learn how to handle those situations. The skidpad also provides advanced drivers with the thrilling experience of drifting. The tight performance track offers plenty of opportunity to learn how to control a vehicle at various speeds and cornering situations. Drivers can definitely satisfy their need for speed and excitement on one of the four tracks and experience driving scenarios they’ve only ever seen in the movies.
2. A variety of track experiences are available
In addition to BMW-dedicated tracks and a polished wet skidpad, some classes take advantage of the FIA certified race tracks of The Thermal Club. There are three tracks there with a combined length of 5.1 miles. The North Palm track is 1.2 miles long, the Desert Palm track is 1.8 miles long, and the South Palm track is also 1.8 miles long. Their newly-opened Off-Road Track allows drivers to experience extreme angles in the BMW X-series vehicles, splashing through water obstacles, driving over bumpy off-road trails and more. The vertical angles are literally steeper than any street in San Francisco and the visual sensation is amazing. Drivers often say, “I didn’t know a car could do that!”
3. A range of performance driving experiences are offered
Each BMW Performance Center West’s fun and action-packed driving programs delivers a robust experience that you’re sure not to forget. These include:
-- BMW Performance Center Drive: This option packs a real punch with two intense and exhilarating driving sessions capped off with a Hot Lap by a Certified BMW instructor.
-- M Track Drive: This is the perfect combination of machine and track with six hard-charging laps on one of the tracks of The Thermal Club pushing a BMW M3 or M4 to its limits. Featuring the facility’s most powerful and responsive vehicles, the M Track Drive will put you behind the wheel of an M car for six exhilarating laps on an FIA Certified racetrack. You’ll follow an instructor’s car for a warm-up lap and also learn the proper line for achieving the best time. Then, try to keep their car in your sights as speeds and g-forces increase, pushing your M car to its considerable limits.
-- The Ultimate BMW Mixer / The Track Meet: This is a unique driving and dining experience that elevates gift-giving, business networking and client entertaining to a whole new level. It’s a great way to get a taste of what the group events can offer. The mixer is a half-day experience that includes a delicious chef-prepared lunch, three exhilarating driving sessions in a fleet of brand-new BMWs and a Hot Lap around the track with a BMW pro at the wheel. The afternoon is capped off at a private reception with hors d’oeuvres and beverages at the BMW Performance Center. If you do have business needs, the facility has meeting spaces with multimedia capabilities, site-wide Wi-Fi and both indoor and outdoor dining with a delicious catering menu.
4. Both one- and two-day car control schools are available
Engage your senses and push through your comfort zone by learning vehicle handling, quick judgment and accident avoidance skills—all developed in a controlled environment with a BMW-certified instructor observing and coaching via radio. These include real-world driving conditions and scenarios—wet pavement, emergency braking and lane changes, distracted driving and more.
For the two-day options, participants will build on and reinforce the skills and techniques learned on day one. More seat time and real-time feedback takes driving abilities to the next level. Day two is when things really “click” and safe driving instincts kick in. This is also the day participants will experience an Instructor Hot Lap.
There are a wide range of driving school options at the BMW Performance Driving Center that are available to individuals and groups, alike. Below is a brief synopsis of each:
-- Car Control School: Take the wheel of a BMW and head out to the track, where professional instructors will hone your driving skills. Understanding stability control, knowing what to do when a vehicle starts to slide on the wet skid-pad and practicing proper vision through the lane-change course will allow you to anticipate situations on a real road. Available as a one-day, or for even more in-depth instruction, two-day course.
-- M School: Take the wheel of a high-performance BMW M vehicle and experience the power of M firsthand. Accelerate, corner and brake faster than you ever have before, then learn to maintain control in low traction conditions on the facility’s wet skidpad and keep 400 horsepower under control. End the day with a hot lap in an instructor-driven M vehicle. Available as a one-day, or for even more pulse-pounding excitement, a full two-day course.
-- One-Day M School: Learn the theory, physics and mechanics of performance driving. M School builds confidence and consistency while perfecting control, handling, acceleration and braking techniques.
-- Two-Day M School: Take everything you learned on day one and push “GO.” Slaloms, drifting, braking, cornering at optimum slip, full- and modified-time laps at speeds you’ve only dreamed of.
-- Advanced M School: Game on. M School graduates are an elite class of driver. They’ve proven that they’ve got what it takes to handle the ultimate challenge: BMW’s Advanced M School, held for two full days at road course tracks with pro Instructors, is the closest you can get to a racing experience.
-- MINI Motoring School: Take a John Cooper Works MINI Cooper and run it through an autocross course, lead/follow session and some stunt driving techniques, all under the watchful eye of a professional instructor. The mighty MINI will have you grinning from ear to ear all day long.
-- MINI Tricks and Stunts School - The first half of the day gets you intimately familiar with the MINI’s handling and capabilities, but the fun meter gets cranked to 11 in the afternoon. They’ll cover silky smooth reverse donuts on the skidpad, J-turns and reverse turns.
-- Teen School: There’s a lot for brand-new drivers to keep in mind and the BMW Teen School will allow them to experience how a vehicle feels at the limit in the safety of a closed environment. From wet skidpad exercises and panic braking to performing a double lane change, teens will leave with a solid foundation of vehicle control and a big smile. This option is available as either a one or two-day curriculum.
5. Amenities abound
Set against a backdrop of breathtaking mountain views, the BMW Performance Center not only boasts a private course where only you can experience the Ultimate Driving Machine, but also a luxurious modern building, gourmet café, coffee bar and gift shop with exclusive merchandise that you cannot buy anywhere else.
Customized corporate retreats and group events held at the BMW Performance Center are a refreshing change from the cliché team-building sessions. All programs are designed to improve dynamics, build trust and facilitate group communication. They have meeting spaces with Multimedia capabilities, site-wide Wi-Fi and indoor and outdoor dining space.
In all, this is an unforgettable experience that also makes a great gift idea. With stay at home orders having been lifted, getting behind the wheel of a new BMW at the BMW Performance Center West is a “bucket list” excursion sure to leave you longing for more.
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Travel Technology
Article | May 5, 2023
If a kid comes to me nowadays and tells me about his passion for working in the hotel industry, he goes back home with a dream to become a pilot. I am not saying that the hotel industry is the worst kind of industry currently existing in today’s environment, but I am also not denying that.
Now, no offence to the hoteliers. You guys rock! It is no joke to work on a New Year Eve and see other people celebrating it while you guys make it happen. You have my respect! But I am probably not that tough. It took me a whole trial and error approach to declare this industry a nightmare for me. But I have so many of my friends still working in hotels and loving every second of their life. (At least that’s what they tell me.)
So why were our experiences so different? Why do I know that so many people are not really made for this industry? And what does it take to be a hotelier? I will try to answer these questions through my experience and observations.
Why Hotel Management?
It is that one question that is the most common and important one. Before taking any big decision, one should be asking a similar question. But what was my why?
Allow me to rewind my journey. I was in my 12th with commerce stream, and I was going through that self-enquiry phase. What after this? There was no 13th, nor did I enjoy accountancy too much to do it until I die.
So I used to surf the internet and explore different career options almost every day. That was one of my significant hobbies during that time. I used to evaluate my choices, and very soon I understood that I had limited options in the commerce field. So it was arts then? But what was the median salary in that sector?
After a lot of research, I realised the median salary in the arts sector was ‘disappointing’.
But still, if not that, then what? What was I going to do with my life? It was then that I saw the picture of a cruise ship and remembered 'Titanic'. It was then that I imagined the luxury of a 5-star hotel. It was that moment where I was about to make one of the stupidest decisions of my life.
I had never stepped into a kitchen nor showed the slightest interest in making any dish. I never really fancied cleaning glasses, nor did I like managing people under me. I also didn’t know absolutely anything about what was this industry all about.
But I dared to share it with my sister, and she was like, wow! It sounds so different! I told this to my friends, and they were like, wow! We always knew you would be doing something different! I told this to my father, and he told me students have to clean toilets during the internship, and I shouted, ‘But that’s not a big deal! Anyone can do that!’ Dad said, ‘Do whatever you want to do then, my son.’
Well, so what did I want apart from freedom in my life at that point? Maybe maturity? Oh! Screw that!
So I gave the entrance exam and got a decent rank. I desired to stand in the lobby of a 5-star-hotel and meet salacious women. I was pretty sure that many women would choose that industry apart from me. That was enough motivation! So yes, my reasons to choose the hotel industry was very logical and thoughtful, suffice to say.
What Happens in a Hotel?
The hotel industry is one of the most glamorous industries out there. Everything is so clean, eloquent, expensive, and pretty. People come to a 5-star hotel, are warmly welcomed, served drinks; they are provided comfortable beds to sleep in, and they enjoy their stay and endless services. Then they simply check out.
My only mistake while considering this option was that I wouldn’t be treated like one of those ‘People’ there. In our very first lecture, the term ‘Guest’ was taught to us and how we are not them. We are the ones who would serve them. We would be the waiters, the cooks, the greeters, the bartenders, etc. We wouldn’t be drinking with them but watching them while they would be cavorting.
That was a shocker! So many things happen in a hotel, and hoteliers make those things happen. They do all the hard work. The Bakery Chef would spend hours decorating the cake, which the guests would smash on each other's faces. The housekeeper would clean the bathtub while the guest would take five more baths after that.
The front desk agent would be greeting the guest during check-in, and the guest would throw tantrums because of his arduous journey. Suddenly my bubble broke, and I realised what I really signed for. I signed for an everyday vacation in hell.
Who Survives?
I think adulthood is about that realisation when you get to know that bread isn’t free. And what buys that bread isn’t that easy to get. And how much that thing matters to you is going to decide how happy you are going to be in your life.
If I was that guy who had grown up watching Masterchef and experimenting in the Kitchen all my life, then a Gordon Ramsey could have come out of me.
If I were a fastidious guy who wanted everything to be clean and perfect, then an entrepreneur or a manager could have come out of me who would have tried to do that during his job.
If I were a guy who loved making people smile, then interacting with guests while serving the food or taking their check-ins would have been the best things out there for me.
You get my point! There are so many things that could have made hotel management an ideal career choice for me. It really is a glamorous industry, and it can provide satisfaction as a career option to some people out there. But that wasn’t the case with me. Sadly that wasn’t the case with many of my batchmates and colleagues of mine as well.
After completing my three-year graduation, four-month industrial training, and one-year job as a Front Desk Agent, I quit. Nor could the managers inspire me, nor any other incentives that the industry had to offer. My future looked as grim as the life of an insect (No offence to you if you are an insect.)
So yes, be wise before choosing this industry because this industry demands a lot! It is one of the most selfless jobs out there, and you have to be prepared for the nasty feedbacks after all your hard work. So do some self-inspection (Unlike me) if you are stuck in this industry or are planning to do so.
And if you love where you are right now, then as I said, you have my respect.
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Business Travel
Article | December 16, 2020
Data science has lead to marvelous opportunities for many industries. Like so many other industries, the travel industry would greatly benefit from knowing future travel information in advance. Fortunately, there is no need to rely on some fortunetellers anymore, but take advantage of Big Data.
Big Data in the travel industry is driving in the right direction, especially after the pandemic, as companies had to be more technologically advanced to cater to their regular operations effortlessly. And big data is now transforming the way businesses used to conduct their operations. It has started taking care of everything that a traveler expects from the traveling organizations in terms of personalized offers to products and more. In this digital period, where everything is hyperconnected, new technologies and big data analysis have become essential for the travel industry to adopt new consumption models and improve the decision-making process.
Many industry leaders are already using big data in the travel industry. Still, but you may not understand the real value it can provide for your business or how is big data being used in the travel industry. With a closer look at the ways big data is transforming the travel industry, you can determine how your business can benefit from its use. Before you reach this point, a brief about significant big data challenges in the travel industry can help you understand how you can improve your company.
What were Big Data Challenges?
Data capture
Unorganized structure of data
Speed
Privacy and security
Data ownership
Data handling
Data storage
5 Ways Big Data is being Used in Travel Industry Businesses
So how exactly is big data going to affect your company? Amadeus's research study identifies two segments of change, one is the operations, and the other is marketing strategies.
Greater Personalization
Companies in the travel industry, such as car rental companies, tour operators, airlines, and more, must find a way to improve their overall functionalities to meet goals. To stand out, you must have a unique approach to market your products. Using big data, you can easily pinpoint exactly what employees are looking for and then establish a concrete base right out of the gate. When it comes to greater personalization offerings, effective uses of big data analytics help making well-informed decisions. By using big data analytics, the applications provide wide-ranging personalization offerings such as promotions, deals, referrals, and more, keeping an aim to generate revenue.
Identification of Potential Risks
Currently, businesses are struggling to deal with high-risk environments, where a proper risk management process is the need of the hour. Big data in the travel industry has been instrumental in developing new risk management solutions and can enhance the effectiveness of risk management models and build intelligent strategies. This is one potential power of big data is transforming the travel industry.
Pricing strategies
Price is a critical component to set under marketing strategies. Big data used by travel companies can easily track, analyze, and file the competitors’ prices to get a clear picture of what’s trending. This real-time analytics can help your company track pricing changes and build a consistent pricing strategy for a better workflow for employees. Price strategies can turn into a game-changer for your business goals in the future. Through a transparent idea of what competitors are implementing in their process, your business can execute optimum pricing strategies that would considerably benefit your company by predicting future demand.
Security Enhancements
As the amount of online transactions has amplified steadily over the years, the rate of fraud has also increased simultaneously. Losing customer data can destroy your business’s reputation. Big data in the travel industry allows companies to plan and implement software that would increase safeguards on sensitive information by leveraging types of technologies, including natural language processing, video recognition, speech recognition, machine learning engines, and automation. This is considered one of the best solutions for how big data is helping the travel industry.
Revenue Management
Travel businesses use big data analysis to manage their revenue. Big data in the travel industry has become one essential part of companies that effectively maximizes financial aspects. If you have set a goal in your company to achieve specific revenue, then it is crucial to define a market strategy to offer corporate travelers the right services through the right channel. Because of this, you can manage the prices to maximize the revenue of your company.
Benefits of Big data
From a humble beginning of big data in tourism before the pandemic, it has become a mainstay in the business world. Big data solutions and big data analytics will not only foster taking data-driven decision, but also empower your workforce that add value to your business. According to Harvard Business Review, 99% of companies surveyed reported that they intend to implement big data analytics and AI in the near future. What are other significant big data benefits that you should inculcate it in your business? Here are some of these:
Big data benefits for the travel industry by offering real-time monitoring, forecasting of business, and the market.
Unlock the true potential of data-driven marketing.
Facilitate faster delivery of services and products that meet and exceed the client’s expectation.
How Businesses can Analyze Big Data?
To understand big data, you firstly need to know the points that need solutions. Then, attempt to identify the answer to your questions such as, ‘how can I get the data to solve it?’ or ‘what can big data do for my business?’ Your big data solutions need to be effortless. It is important to match what you had in mind for pricing and make it flexible to serve your business in the future.
Research the most reliable big data tool so that it can serve to provide you the right solution. For example, if you want to introduce more effective promotions and marketing campaigns, you can use Canopy Labs, to predict big data travel behavior and sales trends.
The travel and tourism industry uses big data with the help of several tools that are inexpensive or even free to use. Google also has user-friendly tools like Google Adwords and Google BigQuery. So, don’t feel overwhelmed by all the data that’s out there. With the right tools, you can separate the data to find what you need to start growing your business today!
Some Success Stories
KAYAK sets an example of using big data in the travel industry by innovation and spearheads the technological revolution. It has developed a new benchmark in the travel industry using big data for travel management and operations.
United Airlines embraced a “collect and analyze” approach to their big data for travel planning. The company tracks all information using real-time data, including individual and general historical data.
The Schiphol Group, which operates the airport, has reportedly invested in data science packages. A team of big data analysts easily analyze, report, and visualize the constant influx of data of employees on corporate trips.
These developments are reflective of the growing big data analytical trends in the travel and tourism industry. Following the steps of industry leaders, a lot of companies have started the adoption of big data for travel management and improvising their analytical tools to make more informed decisions for future travel mechanism. You can get more interesting and updated news to rely on how big data in the travel industry is transforming.
Future Outlook of Big Data in Travel Industry
Many industry leaders are talking about big data in the travel industry, its evolving benefits and the future of big data within the tourism industry. With the effective uses of big data, your company can use information about employees catering to corporate business services to understand the workflow.
Hadoop, one of the big data applications in the travel industry, provide suffecient data storage space and presents information from a wide range of sources in a structured manner. It enables tourism companies to take immediate decisions as per requirements. Big Data applications in the travel industry help companies introduce new products to have predictive analysis and critical insights about corporate travelers.
What could be anticipated from the future of big data is that travel industry professionals will progressively utilize big data to facilitate their potential benefit. This will genuinely modify what companies would offer corporate travelers equally in the future. With such activities to cater the markets worldwide, big data in the travel industry has formed a clear map.
Frequently Asked Questions
How is big data being used in the travel industry?
Big data in the travel industry is used to observe various marketing strategies and some customer-related patterns and trends. Following these is important to create loyalty among employees as well as customers also. Therefore, the more data a business collects, the more it will understand ways to generate revenue.
What is the future of big data in travel industry?
The future of big data in the travel industry stays impressive as the market leaders can make decisions that are more informed based on analytics and number-driven data. Big data in the future will boost the efficiency of the services and the quality at the same time.
How big data is helping the travel industry?
Big data is helping the travel industry in many ways. It is allowing businesses to make more evidence-driven decisions for revenue. These include the ability to anticipate customers' future demands accurately, re-structure pricing, target more marketing strategies, and improve real marketing tricks.
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