Big Data In Travel: Triggering Business Transformation

Apurva Pathak | July 7, 2022 | 232 views | Read Time : 2:51 min

Big Data In Travel: Triggering
Global travel agencies are striving to maintain a competitive edge in the market. They are relying on big data to analyze the current state of the market, automate work processes, and better understand customer needs to streamline their businesses. Big data is now an important part of the future of the travel industry because it helps:

  • Accurate decision-making
  • Customer demand forecasting
  • Service personalization
  • Travel marketing
  • Optimization of pricing strategies


How is Big Data Sourced?

The following data sources are used to gather big data:


UGC Data

User-Generated Data (UGC) is the most affordable data to obtain and includes textual data gathered through questionnaires, social networks, and image data.


Device Data

Device data gives access to GPS data, mobile roaming data, bluetooth data, RFID, WiFi data and more. This data is harder to obtain and is expensive.


Transaction Data

Web search data, web page visit data, online booking data, etc., constitute transaction data. Advanced web services such as Google Analytics can help collate this data.

The sourced data is analyzed using artificial intelligence, machine learning, and natural language processing (NLP).


How Is Big Data Changing the Way Travel Companies Operate?


With the help of big data, you can increase your performance, get deeper customer insights, and offer an excellent customer experience to travelers. Let us briefly examine how big data can help you achieve all these objectives.


Optimize Your Revenue

Optimize your costs and accurately predict short-term and long-term revenues. Through customer experience metrics, you can also analyze your profit potential, correctly forecast peak period demand and offer relevant services to customers at the right time. As a result, protect your agency from unexpected expenses and make the most of customer demand.


Recognize & Capitalize on Trends

Historical, real-time data and a standard analytical approach help you understand the changing trends in the tourism industry. Then, you can swiftly take measures to adapt to these changing trends and capitalize on the ones that contribute to revenue. Bleisure is an excellent example of such a travel trend.


Improve Your Marketing Campaigns

Big data processes large amounts of information on your target audience and helps you see which marketing campaigns can succeed based on long-term forecasting. Consequently, you can prevent any unexpected losses while executing seasonal marketing campaigns. Additionally, big data collects information on your competitors and target audience in real-time, so you know the kind of marketing campaigns you need to execute to remain ahead in the race.


Enhance Brand Reputation

Big data considers customer reviews and comments to help you understand which aspects of your business need improvement. Internally collected feedback and big data analysis can create a standard to improve the brand reputation of your agency.


Conclusion

Big data in the travel industry is more than just a trend; it is a tool for better understanding the market situation and each customer in general (potential and existing). All of this lays the groundwork for a more personalized approach and accurate prediction of what customers want, and contributes to an elevated customer experience and an increase in revenue.

Spotlight

Tourist In Paradise

Tourist In Paradise was founded during a well-needed vacation by two digital marketing nerds, seeking a genuine Caribbean island far away from big hotels and crowded beaches. When meeting with local business people and seeing the need of digital exposure, we created Tourist In Paradise immediately.

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Alipay+ Partners with Leading Asian E-Wallets to Promote Cashless Travel in South Korea

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Leading mobile payment providers across Asia announced today an integration of Alipay+ cross-border digital payment solutions in South Korea in an effort to jointly promote cashless travel in the country.Users of e-wallets including AlipayHK, GCash (the Philippines), Touch ‘n Go eWallet (Malaysia), and TrueMoney (Thailand) are able to pay at over 120,000 merchants using their local mobile payment apps when traveling in South Korea. The collaboration marks the first time for leading mobile payment providers from Southeast Asia and Hong Kong to extend the availability of their services in South Korea through Alipay+. The initial phase of the merchant roll-out covers major tourist activities including payments for taxi, duty free shops, convenience stores, and food and beverage chains. Introduced by Ant Group, Alipay+ is a suite of global cross-border digital payments and marketing solutions designed to enable businesses to process a wide range of mobile payment methods and better serve regional and global consumers through simple technical adaption. Commenting on the collaboration, Danny Chung, General Manager of Ant Group Korea, Australia and New Zealand, said: “It is our pleasure to connect merchants in Korea with a variety of mobile payment methods, enabling Asian tourists to pay with convenience and simplicity in Korea using their preferred home e-wallets.” As the theme of this year’s World Tourism Day is Rethinking Tourism, Alipay+ has been striving to achieve the same goal by supporting a cashless and smart travel experience. Through innovation and digitalization, we hope Alipay+ can play its role in the transformation of tourism towards a crucial pillar of development.” The partnership between Alipay+ and Asia’s e-wallet leaders comes as international travel across Asia continues to rebound. In early September, South Korea lifted the requirement for pre-travel Covid-19 tests for inbound travelers, following a decision to remove all quarantine requirements for foreign arrivals regardless of vaccination status. “With South Korea being one of the most popular destinations of Filipinos, we are delighted that our customers will be able to maximize their GCash app during their travels. This collaboration with Alipay+ provides our users the convenience they need to easily transact and manage their expenses with GCash, This innovative partnership aligns with our vision of financial inclusion and is a huge step towards building a cashless ecosystem, worldwide.” -Martha Sazon, President and CEO Mynt, which operates GCash, Venetia Lee, General Manager, AlipayHK and Alipay Greater China International Business, Ant Group, said, "It is our pleasure to announce the connection to South Korea, a popular tourist destination for Hong Kong people. AlipayHK aims to provide our users with one-stop lifestyle services, including not only local but also cross-border payments for those who love traveling. With AlipayHK already being accepted by the vast majority of merchants in Japan, Chinese mainland and Macao through Alipay+, we expect our service to expand to more destinations, enabling AlipayHK users to travel everywhere with one app using their own e-wallet." 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Read More

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VeriFLY by Daon Expands Capabilities to Streamline Access to Travel Documents

Daon | September 28, 2022

Daon, the Digital Identity Trust Company, announced expanded usage of its VeriFLY™ digital travel app to allow users to save required travel or event documents directly to their digital itinerary, providing one-point access for retrieval. VeriFLY is the world’s first widely adopted digital travel app to help travelers and event attendees quickly and safely meet their destination’s and event’s health and identity requirements.VeriFLY is the first mobile app service of its kind to support multiple airlines (codeshare, interline) and any number of countries’ travel requirements. It applies health certificates and related documents to multiple travel legs with similar entry/transit requirements. Its newest capability is now available in over 65 countries. “Daon VeriFLY continues to provide customers with the best user experience while traveling due to its ability to adapt quickly and effectively to the travel industry’s changing requirements, This new expanded capability removes the added stress of travel restrictions, providing travelers with health document credentials throughout their entire travel journey, including multiple leg trips, outbound and inbound travel, codeshares, interline and more.” -Tom Grissen, CEO of Daon Previously, VeriFLY users could only access necessary documents for point-to-point travel, but this new capability allows customers to use VeriFLY for multi-leg travel, even if there are different airlines within the complete itinerary to help federate across the VeriFLY ecosystem. This creates a seamless user experience more aligned to the airline web and app experience that travelers expect. VeriFLY gives travelers the benefits of a faster, smoother process – while enabling the carriers to deliver more on-time flights, faster boarding times, less counter transaction time, lower ground handling costs, fewer inadmissible passengers and related fines, better audit trails, all while promoting higher passenger usage of online check-in and self-service. Travelers worldwide have widely adopted VeriFLY and continue to utilize the mobile app for their ongoing travel experiences. VeriFLY is used by major airlines, cruise lines, hotels, and other businesses, including American Airlines, British Airways, Aer Lingus, Japan Airlines, Carnival Cruise Lines, Holland America Line, Viking Cruises, Hyatt Hotels & Resorts, and many others. VeriFLY recently reached the milestone of more than 12M travelers serviced, and recently over 1 million Carnival Cruise guests have used VeriFLY for a seamless travel experience. The VeriFLY travel app can be downloaded from the Apple App Store or Google Play. Users can create a secure profile and input flight information, upload crucial travel related documents, and any other essential identity and health documentation. Visit Daon at World Aviation Festival in Amsterdam (booth 12.561) on October 4-6, 2022, to learn how VeriFLY is defining the future of seamless travel. About Daon Daon, the Digital Identity Trust company, enables market-leading organizations worldwide to easily and accurately proof, verify, authenticate and secure customer identities at every trust point across the entire customer lifecycle. With industry-leading identity proofing and biometric authentication technologies at its core, Daon’s technology ensures that customer identities are accurately verified, easily asserted and safely recovered. By mitigating fraud, reducing friction, and ensuring regulatory compliance, Daon help businesses deliver a seamless customer experience, increase customer satisfaction and reduce cost. Daon delivers these solutions through its AI and ML-powered IdentityX® platform, chosen by leading companies in financial services, telcos, travel & hospitality and other industries to secure and process hundreds of millions of digital identity transactions daily. Learn more at www.daon.com.

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