What is BIG Data to the Travel Industry?

The current technology  ‘buzz words’ are ‘BIG’ and ‘DATA’. So what is Big Data? Why does it have so many people running around?

To most ordinary travel folk the term Big Data means nothing and frankly gets ignored until someone from the I.T. department comes running into the board room getting excited! So, they say, what is all the excitement all about?

Well, in order to keep it simple, we shall keep our view of it down to the basics.  Ask the question ‘what is Big Data’ of ten people and you could well get ten different answers all of which could be correct in someway. In other words it is different things to different people. Basically we at “Travel Systems Associates” believe it to be the accumulation of a travel company’s information (data) that it gets from and about customers. The easiest example is; if your travel business has a website, social media, CMS, booking system etc. etc then all the data you get from those sources amounts to Big Data. The question then is; what do we do with it? In the past the question has not arisen as we have been too busy focusing on individual data sources not the whole picture.

Technology solutions are now emerging (like AWS analytics) that allow the tech savvy amongst us (but as time goes on simplified solutions will emerge) to program questions that identify buying patterns to emerge. This in turn will allow products to be more flexible to match the markets changing demands. For example; if your Facebook page is getting a lot questions about products or services that your company does not offer the Big Data analysis will show results clearly so your business can react quickly and make bigger profits. Equally, it might tell you that business is being lost by not responding to customer concerns quickly enough. Either way, the impact of having more information available about your relationship with customers and the market in general will be significant.

If you would like to know more about how Big Data can benefit your business, call us today to find out more!