We live in a data-driven world where we leverage data to achieve our desired results. In layman's terms, big data collection is nothing but the process of collecting a large amount of data or information derived from multiple sources to gain insights about a particular industry or business, make future decisions, identify trends, etc.

Data is being generated by us constantly and with the use of the internet, data generation has increased even more. Internet footprint is left every day knowingly or unknowingly by us. 

It is a valued asset in today's digital economy, and companies of all sizes are consistently investing in collecting and storing large amounts of data to study and use it to their advantage. 

Over the years, big data has become very popular in the travel industry. The travel sector can gain from big data in a variety of significant ways, enabling them to make more rational judgments about the future, etc. As a result, travel agencies gather and store enormous amounts of data at every stage of the journey.

Why is big data collection important for travel companies? 

The travel industry is customer-oriented. As a tour operator or travel agent, you need to know how data can be used to tip the scales in your favour. The possibilities are endless. Many travel and tourism companies only focus on collecting data, but often lack the resources to analyse and comprehend it. 

Top 3 reasons big data is important for travel companies! 

1. Analyse Trends & patterns!

• Every single piece of data that is collected has to be analysed.
  
  
• Now there are different uses, such as analysing trends, patterns, weaknesses, strengths, etc.
  
  
• Data analysis is also helpful when it comes to the reputation management of a company.
  
  
• Since reviews and testimonials play an important part in the travel industry, data can be collected from various sources and examined to see what the customers experienced, whether there is a pattern, etc.
  
  
• If there is consistent talk about any service, negative or positive, it can be worked upon after analysing and identifying the root cause. 

2. Predictions about customer behaviour!

• Humans are quite predictable, making it easier for companies to decode their patterns.
  
  
• If you have researched and observed your target audience accurately, it will get easier for you to predict what and when they are going to do something.
  
  
• Let's understand this better with an example: If you have a customer who only travels first class and goes to exotic locations, you will automatically send them that type of package in the future because now you know their preference. This can be achieved by looking at the customer history data.
  
  
• It proves that the behavioural patterns of customers can be studied and predictions can be made with the help of data analysis.

3. Strategic marketing & competitor research 

• Keeping an eye on what your competitors are doing is always wise.
  
  
• You can analyse whether there is going to be a demand for a specific location or not.
  
  
• You can research and create packages for the destinations that are trending and being loved by people.
  
  
• This will help you with strategic marketing, help you optimise your processes, and increase revenue.
  
  
• Based on last year's or earlier reports, you can get information about your competitors and your target audience.

The Advantages of Big Data collection

1. It improves personalisation 
   
   
2. Allows adjustments in package offerings to the client base
   
   
3. It helps analyse demographic trends
   
   
4. Predictable pricing and promotional strategies
   
   
5. Examine business performance.

Conclusion

Technology is advancing every single day, and modern travel technology platforms available in the global market understand big data as a fact of life. They believe in the power that big data holds.

You can use tools, utilities, common websites, etc to observe the trends, websites like statista.com are really helpful along with google trends. 

Big Data is powerful to make decisions, but overall data analytics is also really important.

Big data should be backed by an integrated Customer Relation Management (CRM) system. It allows travel companies to improve personalisation using the information they gather and make adjustments to their offerings.

ETOS is the travel technology partner your travel business needs to advance in the ever-flourishing tourism industry. All ETOS product offerings come with an integrated CRM system that can help you achieve automation in just one click.

Everyone is switching to technology and realising its importance. Don't get left behind! You can get in touch with our experts to find out more or book a FREE DEMO!