6 data management practices for the travel industry 

In a recent article published by Eye For Travel online newspaper, a highlight has been made upon the usefulness of data collection and how it can affect the way the tourism and travel industry proceeds afterwards. This represents an opportunity for travel companies to enter new markets and increase their market share.

           

First, technological innovations enable companies to elaborate a data collection on their clients and increase revenues accordingly. Mobile applications and online booking website have integrated data collections to offer more precise and user-friendly tools. This technological development provides the mean for travel companies to increase revenues from online booking and ancillary services.

Secondly, an emphasis has been made over the importance of a collaboration of travel companies with IT and data providers as a form of competitiveness. In fact, travel companies are able to centralize data and improve the following analysis of the data collection. This represents a considerable competitive advantage for travel companies to gain in valuable knowledge about their costumers.

The third point concerns the constraint of firewalls that prevent travel companies to collect data on their clients. To enhance the ease of doing business for travel companies, firewalls have to be challenged to avoid missing important data and therefore facilitate interactions between the two parties.

Another focus has been made on the right selection of data streams. In fact, big data collection is not enough for companies to interact appropriately with their consumers. The role of the Chief Integration Officer is to select the right information to enable the company to benefit from it in order to ultimately offer personalized and tailored services.

Data collection also enables the travel industry to strengthen consumer satisfaction. Travel companies offer tailored services to costumers through more flight feature choices. By doing so, not only it raises the satisfaction of clients but their loyalty to the brand is reinforced as well.

Finally, there is a growing pressure over the use of data collected by companies. They are expected to have a rethought control over the collection of data and being able to justify how they use them.

Anthony Calzi & Camille Salomon

Reference:

Eyefortravel (2015, December 30). 6 data management revelations from the world of online travel in 2015 | Travel Industry News & Conferences - EyeforTravel. Retrieved January 31, 2016, from http://www.eyefortravel.com/revenue-and-data-management/6-data-management-revelations-world-online-travel-2015