Travel Technology
Article | May 5, 2023
Despite the global pandemic controlling business travel headlines for the past twelve months, there are quite a few other topics top of mind for travel managers today in North America.
Egencia has taken a dive into the other important topics that are weighing on the minds of travel managers, and we’ve taken a look at what’s creating a buzz in the industry and within the Egencia travel manager Connect Community.
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Hospitality Management
Article | June 20, 2023
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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Hospitality Management
Article | June 29, 2023
Embark on transformative journey through top hospitality management certification in the tourism and hospitality industry. Elevate career prospects with industry-recognized hospitality certification.
The hospitality industry is a dynamic and fast-growing sector that requires skilled professionals to deliver exceptional guest experiences and drive business success. Whether you are an aspiring hospitality professional or a seasoned industry expert looking to expand your knowledge and enhance your career prospects, pursuing a hospitality management certification or course can be a valuable investment. Hospitality management courses are short-term, specialized training programs designed to offer learner with a comprehensive understanding of hotel management and the hospitality industry.
1. Management Foundations in the Hospitality Industry
Experience a transformative journey in hospitality management with the hospitality management certification, Management Foundations in the Hospitality Industry. This advanced course caters to industry experts, equipping them with a comprehensive understanding of motivation, leadership, communication, decision-making, and effective human resources management. Delve into service-driven excellence, ethics, social responsibility, and enhancing consumer experiences. This course consists of four modules covering resource allocation, talent recruitment, interviewing, employee training, performance appraisals, and liability avoidance. To solidify your knowledge, the course features curated readings, interactive discussions, and practice quizzes. Elevate your professional prowess and unlock new horizons in the dynamic hospitality industry.
2. Guest Service in Hospitality and Tourism
Enhance your hospitality and tourism industry expertise with the exclusive certification in hospitality management, Guest Service in Hospitality and Tourism. This advanced course caters to industry experts, equipping them with essential skills and knowledge to excel in customer service. Dive into the intricacies of greeting guests with finesse, responding adeptly to complaints, and creating unforgettable experiences. From maintaining composure in challenging situations to demonstrating empathy, you'll master the art of exceptional service. With this course, you can learn and leverage practical strategies to handle common grievances, ensuring guest satisfaction at every turn. This certification program will unlock a world of opportunities in the dynamic field of hospitality management.
3. Introduction to Hospitality Management
Embark on a transformative journey with a certificate in hospitality titled, Introduction to Hospitality Management. As you transition into a managerial role, renowned restaurant consultant Mike Ganino shares expert insights in this comprehensive online course. Acquire essential skills, from preparing for your first day as a manager to effective task prioritization, delegation, and confident leadership. This 30m 35s online course will help you to optimize staff rostering, master multitasking, and ensure exceptional service standards. Gain expertise in handling challenging situations with demanding customers and effectively respond to customer feedback. With this course you can unlock new possibilities and elevate hospitality management career.
4. Hospitality Management Cornell Certificate Program
Uplift in the hospitality industry with Hospitality Management Cornell Certificate Program. As one of the premier hospitality courses developed by the renowned School of Hotel Administration at Cornell University, this advanced certification equips industry experts with the essential skills and best practices to excel in management roles. From finance and marketing to team building and guest loyalty, you will gain a comprehensive understanding of every facet of hospitality management. The course allows one to learn from renowned experts and participate in virtual Zoom sessions, exploring the industry's trending topics. This certificate program is for a duration of three months, divided into weekly modules of three to five hours per week.
5. Teamwork in the Hospitality Industry
Embrace the power of effective teamwork in the dynamic hospitality industry with the comprehensive Teamwork in the Hospitality Industry course to improve your work experience. As a hospitality industry expert, one must understand teamwork's crucial role in enhancing work experiences and driving success. In this microlearning program, organized with four lessons to fit seamlessly into a busy schedule, you'll develop the essential teamwork skills required to thrive in the fast-paced hospitality environment. From understanding the significance of effective communication within teams to practical applications and navigating noisy environments, this course empowers you to elevate collaboration and deliver exceptional results.
6. Understanding Travel and Tourism
One of the best hospitality and tourism management certifications, The Understanding Travel and Tourism, a course published by NuYew, is one of the best hospitality management programs to enhance expertise in the thriving world of travel and tourism. This course provides a platform for learners and industry experts to gain valuable insights into the travel industry's fundamentals, benefits, and terminology. Acquire the essential skills necessary for success in this dynamic field and discover renowned global tourist destinations and attractions. In addition, the course also includes the intricacies of business travel, hygiene standards, food safety, and event planning within the hospitality and catering industry.
7. Accounting and Financial Management for Travel Agencies
Overcome the difficulties of managing the travel and hospitality businesses' accounting transactions or financial statements with Accounting and Financial Management for Travel Agencies. Designed to help industry experts boost their financial management skills, this course will equip you with the knowledge to navigate accounting transactions effectively, interpret financial statements, and make strategic decisions that drive profitability. With the combination of practical case studies and interactive simulations, the course has been created to develop a deep understanding of accounting principles and learn proven strategies for financial success. Whether aiming to meet investment requirements or comply with industry regulators like IATA, this course ensures you have the skills to manage the agency's financial health.
Summing Up
Learning has become more accessible and convenient than ever before thanks to the advancements in technology. By embracing the listed hospitality management courses, individuals can equip themselves with the necessary skills and knowledge to thrive in the ever-evolving landscape of the hospitality industry. As we move forward, it is evident that continuous learning and upskilling will be crucial in staying relevant and competitive. The online hotel management certification allows professionals to adapt to the changing demands of the industry and stay ahead of the curve. By harnessing the power of digital platforms and innovative learning methods, individuals can unlock new opportunities and pave the way for a successful career in hospitality management.
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Hospitality Management
Article | June 29, 2023
Embrace the power of technology and revolutionize your hospitality business! Discover the latest trends in hospitality management software for enhanced efficiency and unforgettable guest experiences.
Staying ahead of the competition requires embracing innovative technologies in the rapidly evolving hospitality industry. Hospitality management software is crucial in streamlining operations, enhancing guest experiences, and boosting efficiency. This article will explore seven trending hospitality management software solutions that are revolutionizing the industry. From property management systems to guest experience platforms, these cutting-edge tools offer a wide range of features and capabilities.
1. TravelNet Solutions
TravelNet Solutions offers exceptional hospitality property management software, Track, which is designed to streamline operations and elevate guest experiences. At the heart of Track is its flagship property management system (PMS), a robust solution that efficiently handles all the back-office requirements, including trust accounting, automation, and housekeeping. What sets Track apart is its best-in-class hospitality customer relationship management (CRM) module. Its integrated system enables guest-related activity to link seamlessly with their record, eliminating the need for module switching or legacy record-keeping methods. Everything is securely stored in the cloud which ensures smooth functionality and accessibility. Additionally, TravelNet Solutions provides Track Pulse Contact Center Software by further enhancing customer interactions.
2. AmTrav
AmTrav provides cutting-edge software for the hospitality industry by revolutionizing traditional business travel solutions. Unlike clunky and frustrating systems, AmTrav is a seamless software and service platform designed to cater to the needs of modern businesses. By focusing on solving current challenges such as meetings and group travel, it offers a comprehensive suite of features. Its connected platform ensures a unified experience through streamlining business travel management. Tailored specifically for hospitality management systems, it optimizes productivity and efficiency, making travel business a breeze. With its commitment to assisting business travelers, AmTrav goes beyond being a mere software SaaS platform.
3. Operto Guest Technologies
Operto'sadvanced travel and hospitality management software enables seamless oversight of operations by consolidating PMS, access, and guest experience solutions into a user-friendly platform. With its innovative technology, one can effortlessly automate housekeeping scheduling and task management operations. By implementing simple and complex scheduling rules, the platform eliminates guesswork and assigns tasks to appropriate personnel. Operto Connect is a comprehensive hospitality operating system that integrates property management tools into a unified platform. From importing and managing guest reservations to controlling intelligent locks, thermostats, and noise monitoring on a per-room basis, Operto streamlines operations. This hospitality management system combines IoT hardware solutions with intuitive software to enhance guest experiences and drive operational efficiencies for property owners and managers alike.
4. Spotnana
Spotnana, a hospitality software, revolutionizes travel management with its comprehensive features. The platform simplifies the complexities of travel management by highlighting global travel policies, traveler health and safety, and robust analytics. Powered by a modern infrastructure, it enables a new generation of travel experiences, providing travelers with a wide range of unbiased options through deep direct NDC integrations with major airlines worldwide. Spotnana's platform ensures unprecedented visibility and control on a global scale, empowering businesses to optimize their travel programs. With dynamic global policies and unrivaled search capabilities, Spotnana's hospitality management tools future-proof the travel program and streamline operations.
5. Deem, Inc.
Deem is a hospitality management system software that caters to the evolving needs of employees and companies alike. Designed to enhance productivity, problem-solving capabilities, and cost control, Deem provides travel managers with a customizable and user-friendly platform to service their travelers efficiently. With a mobile-first approach, its intuitive suite of travel booking and hospitality management tools, led by Etta, enables seamless hotel, air, and car accommodation bookings from any device. Etta's accessibility and user-friendly interface ensure effortless travel planning, updates, itinerary changes, and more, even while on the go. The hotel management software provider's corporate travel booking solution is adopted by global travel management companies and corporate customers due to its unrivaled searches, personalized support, and valuable program insights.
6. ITILITE
A fully integrated travel and expense management solution, ITILITE optimizes spending while ensuring the safety and satisfaction of employees. Founded by experienced corporate travelers who understood the challenges of balancing cost and employee experience, ITILITE identifies the inefficiencies and complexities surrounding business travel. Recognizing the disparity between personal and business travel processes, ITILITE aimed to bring technological advancements to the corporate travel landscape. With unified travel and expense features, the platform drives convenience, control, and savings, empowering organizations worldwide.
7. DIB Travel
DIB Travel simplifies booking and expense management with its travel management software. Say goodbye to endless searches and multiple open tabs. With DIB Travel, booking a hotel, flight, and additional transportation options is done in three minutes. Partnered with renowned platforms like Booking.com and Expedia, DIB Travel provides access to over 1.5 million hotels and a wide selection of flights from major and low-cost airlines. Enjoy the convenience of selecting the preferred options and securing any seat effortlessly. Streamline the payment process with DIB Travel's business travel management software, which consolidates all travel expenses into a single, concise invoice. Additionally, the software offers customizable policies, approval flows, and a personalized expense management service.
In a Nutshell
Integrating advanced hospitality management software holds immense potential to revolutionize the industry. Imagine a world where smart AI-powered systems seamlessly handle all aspects of property management, guest interactions, and operational processes. These futuristic software solutions utilize machine learning algorithms and predictive analytics to anticipate guest preferences, personalize experiences, and optimize resource allocation. Virtual and augmented reality technologies immerse guests in immersive environments, enhancing their stay and creating unforgettable memories.
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