Big Data – a term that is rising to prominence across a range of industries. Ongoing improvements in data storage and collection are now allowing companies access to a potential goldmine of information. If you are in a travel related industry, you are probably wondering how the development of big data affects you.
What Big Data Is
Every bit of information you collect on your customers is valuable – from what time of day they buy tickets, their preferred method of payment, even to the way they move their mouse across the screen. All of this information can be stored now, and it all has potential uses – even if you are uncertain of what those uses are.
According to Tnooz, the travel technology news site, personalization is the main goal of the travel industry when it comes to big data. Personalization allows you to refine the recommendations you give to customers. Where once you could give general advice or recommendations based on what little you knew of a customer, with big data and personalization you can vastly improve this process. You know more. This makes recommendations much more applicable and actionable for customers – which is good for the customer, and good for your company.
Geo-fencing is another big data development of interest to travel professionals. With smartphones, it is possible to detect where a traveler is at any given moment. This allows marketers to notify customers when they are close to the things they want. A big sale, a notable cultural landmark or the best restaurant in town – all of these are reasons to stay in touch with customers, and are all possible through the power of big data.
The Sky Is The Limit
The possibilities of big data appear to be endless. Personalization and geo-fencing are just a few ideas marketers have come up with for this constant stream of data. As the ability to filter all of this data improves, possibilities will continue to open up for its use. You will know your customers wants and needs better than you ever have before, and you will have better ways to act on those desires.
For those in the travel industry, the most important thing is to stay abreast of new developments. Use the options you have available to you now, and work to implement new technologies as they arrive. This will keep your company relevant, and your customers satisfied.