Big data is influencing a lot of different industries around the world. Travel is no exception. The technology behind big data is affecting consumers and companies globally. Here are just some of the many ways it is doing so:
Pricing Predictions for Hotels
Hotels need to price their rooms the right way in order to meet demand. But they also have to turn a profit so they can’t undersell what they have. Big data has allowed them to be more accurate and get better profits while offering amazing deals to customers at the right times.
Big data can let companies see when different seasons are going to be busy. The data also allows consumers and travelers to know when to go somewhere to avoid the crowds. This is changing the way travel works, as before you used to have to guess instead of truly know.
Thanks to GPS technology, local companies can know when someone has arrived in their city. This data sharing, which is common among companies today, means that no matter where you are, you might get a notification about a great deal in that city, saving you money and improving your experience.
As a marketer, how would you like to know how your customers spend their money when they travel? Well, now you can. When people are on vacation, their habits change. See just how much they change by leveraging AI and putting it to use.
Security is vital to ensuring that peoples’ information stays private. When you travel, you are opening yourself up to different risks. Certain governments might want to pry into your phone and that means your personal data could be up for grabs. There are also hackers around different airports. So big data should enable better security by predicting hotspots for data theft. The end result is a world that is more safe.
When it comes to travel, long gone are the days when it involved hopping on a train or a plane and just a few bags for the journey. Today, technology goes with us wherever we travel. Therefore, big data is able to be put to the test and offer marketers, companies, and other entities information about how to offer better experiences and insights.