OLSET’s whole mission is to be the catalyst that drives the travel industry to embrace Big Data. That’s why we have created plug-in technology solutions for travel providers, and also why nothing delights us more than hearing about new Big Data applications for the industry. Add on top of this that our blog is written and updated by our Marketing Team and you’ll see why we love this piece of news.
The honest truth is that all customers are not created equal, well, besides all of them always being right, right? Some people return to your travel business, and some don’t. Some spend a ton of money, but never return, and some spend a fraction, but visit throughout their entire life. Some people book cheap flights weekly and others only 1 intercontinental trip every few years.
Which customer is worth more? Only the data can tell, and that’s where Big Data analytics come to the rescue. The travel industry has long lagged behind in adopting new technologies but Big Data is finally making waves when applied across the industry, from hotels to airlines. For instance, OLSET powers Online Travel Agencies (OTAs) to use big data in the form of millions of categorized traveler review sentiments (ie. “this hotel has bad bathrooms” or “this hotel has incredible staff”) to better understand which hotels to show to travelers searching on their sites. The more personalized the search results, the higher the conversion rate, it’s that simple. The below article has some more awesome examples as well.
“One pioneering example included US economy hotel chain Red Roof Inn who, during the record-setting winter of 2013/2014, realized the huge value of having a number of hotels close to major airports at a time when flight cancellation rate was around 3%. This meant around 90,000 passengers were being left stranded every day. The chain’s marketing and analytics team worked together to identify openly available public datasets on weather conditions and flight cancellations. Knowing that most of their customers would use web search on mobile devices to search for nearby accommodation, a targeted marketing campaign was launched, aimed at mobile device users in the geographical areas most likely to be affected. This led to a 10% increase in business in areas where the strategy was deployed.”
To read the entire original article click here: http://www.forbes.com/sites/bernardmarr/2016/01/26/how-big-data-and-analytics-changing-hotels-and-the-hospitality-industry/#79e420c34b39