It is very important for a business to understand customer trends in order to provide an exciting and satisfactory experience to its customers. This is where big data comes in to play a major part. It helps in analysing the customer trends by gathering information from different consumer centres in a structured manner and thereby, developing a specific marketing strategy for the target audience.

The Analytics of Big Data

1. Every business enterprise works upon immense volumes of data and this data is collected in many ways such as through consumer behaviour, online searches, customer spending pattern, etc.
2. Earlier, it involved arduous processes to collate information and as a result, it was difficult to generate accurate customer profile.
3. The travel and tourism industry is one of the leading examples where its functioning and operations are being highly transformed due to Big Data.
4.  This is helping them in managing their operations, revenue and pricing strategy which is allowing them to increase their income opportunities and provide an up to the mark customer experience.
5. Big Data is also helping the airline operators and other service providers in increasing their network connectivity as per the market demand.

Competitive Pricing Strategy

1. When you look for the most important decision-making factors for a traveller, the price usually tops the list.
2. People are not willing to pay too much and will often choose a particular service provider over another solely on the basis of price. This is one of the reasons how Big Data is revolutionising the travel and tourism industry.
3. And, it is allowing airline operators, hotels and other providers in promoting better and more suitable pricing strategies based on several factors such as demand, seasonal fluctuations, timing, and real-time prices of various other providers.

Ease of Access

1. As airline operators and hotels around the world have centralised systems with all of their data stored at a single platform, the customers are able to experience a smooth booking process.
2. It doesn’t matter if the booking medium is over the phone, online or via third-party applications, the customers won’t be facing any issues as the information comes from the same source, thereby, ensuring consistency in results and user experience.

Creating a Personalised Experience

1. The service providers are now focussing on providing a personalised experience for their customers, thereby, achieving individual customer needs and their loyalty.
2. This improvement in providing personalised services such as special deals, discounts, vouchers and recommendations specific to the customer preference is being achieved through the analysis of the Big Data.
3. As a result, it is helping the customers in saving their efforts to look for appropriate travel packages.
4. In addition, the Big Data is helping in improving visibility, scalability and data filtration to make use of valuable customer insights.

User Insights

1. Customers are adding up the role of aggregators to their existing role of consumers.
2. As a result, they are writing reviews and giving feedback, recommendations and ratings which is influencing the decision-making process of other customers who access the digital media for their travel-related inquiries.
3. Their role has become very influential in impacting the reputation of various service providers.

Big Data has brought in a big change. From the aviation sector to the hospitality sector and different market players in between, access to relevant data has allowed them to practice better decision making, thereby, highly influencing the travel and tourism around the globe.