It’s hard to look anywhere in the news these days – media, conferences, webinars – without seeing something about data. But is “big data” really transformational or just hype?
For sure, big data has impacted many industries and is fundamentally affecting consumers’ lives.
Big data has the potential to significantly shape the future of the travel industry, which historically has had access to plenty of data – such as loyalty programs and price optimization analytics.
However, big data is not just about volume but also about the variety, relevance and speed of data. Can companies turn this data into practical and powerful applications for business? What are the challenges? What’s next?
Amadeus recently released a study written by Tom Davenport, visiting professor at Harvard Business School, which examines the potential big data has for the travel industry – new products and services for customers, improved customer relationships, better decision support and cheaper, faster data processing.
Learn about:
the history of data in the travel industry
technical and operational challenges associated with big data
improving business operations
enhancing travel consumer experience
Panelists for the webinar:
Tom Davenport, visiting professor, Harvard Business School
Thomas Cauthen, vice president of travel intelligence sales, Amadeus
Kevin May, editor and moderator, Tnooz
Gene Quinn, CEO and producer, Tnooz
4. What is big data, and how can it
be used to drive transformation
across the global travel industry?
5. Key report findings
The industry is at a “big data
crossroads”
increasing volumes of new,
unstructured data
need to make passenger
experience more targeted
and distinct
understand what early
adopters are doing
6. 1. Act now
Now is the time for travel
companies to “act”
Out of all the companies interviewed and
researched, “none contradicted the
hypothesis that big data has the potential
to dramatically reshape the industry.”
Key action points
Research big data
Strategize about big data
Don’t just explore the
technology
Start assembling necessary
skills
Work with partners
7. 2. Big data offers major opportunities
Opportunities for travel
companies include:
Better decision support
New products and services for
customers
Improved customer relationships
Cheaper, faster data processing
1. New customer offers
Flight price forecasting
Consistency with
airline sites
2. Internal operations
Randomized testing
Increased efficiencies
8. 3. Pockets of innovation are present today
Big data is being used by
early adopters to:
Optimize revenue management
Customize travel distribution
Transform corporate travel
Enhance internal operations
Boost financial performance
9. 4. Emerging technologies will be key
Emerging technologies
will be key to big data
evolution:
Open source software,
new database types,
emerging languages will
need to be part of the new
big data vocabulary
Big data
Scale out
infrastructure
Massively distributed
Linear scalability
Commodity hardware
Large datasets
Unstructured or semi-
structured datasets
Continuously streaming
information
Volumes in multiple tera and
peta bytes range
Intelligent software
Machine learning
Natural language processing
A/B testing
10. 5. The challenges to adoption
Effective deployment is not
without challenges:
Creating an integrated data
source
Hybrid technology environment
Data skills shortage
Managing data responsibly
11. Conclusion and recommendations
Now is the time for the travel industry to unlock big
data’s transformative potential
Key recommendations for travel companies:
Research big data – lead, rather than follow
Strategize about big data – your business needs a
plan of action
Don't just explore big data technology – look at
changes to business and operational processes too
Start assembling big data skills – a scarce resource
Work with partners for a seamless customer
experience
12. A Look Forward …
Implications & opportunities for the
travel industry
Tom Cauthen
VP, Business Intelligence
13. A Look Forward…
Implications & opportunities for the travel industry
Cheaper, faster data management
Faster recovery from irregular disruptions
Better relationships with air passengers
Airlines
14. A Look Forward…
Implications & opportunities for the travel industry
Enhanced revenue
management
More timely and proactive
product offerings
Better relationships with hotel
guests
Hotels
15. A Look Forward…
Implications & opportunities for the travel industry
New products and
services based on
big data
Better relationships
with customers
Enhanced corporate
travel programs
Travel Agencies
16. A Look Forward…
Implications & opportunities for the travel industry
Consumers
More relevant search and
booking options
More personalized travel
packages
More consistent customer
service
17. A Look Forward…
Implications & opportunities for the travel industry
Technology
Early adopters have many
initiatives underway
Open systems – that scale
to manage all data
Can operate in hybrid
technological environments
18. A Look Forward…
Implications & opportunities for the travel industry
Business
Predictive analytics to
guide the business
More timely and
relevant data for
decision-making
19. Learn more
To download a free copy of the report,
“At The Big Data Crossroads: turning
towards a smarter travel experience”:
www.amadeus.com/bigdata
20. K
Thank You!
Replay and presentation from today’s webinar will be
available at www.tnooz.com
Please send your questions to kevin@tnooz.com
Editor's Notes
Tnooz/Kevin slide)In June, Amadeus issued a sponsored study – titled “At A Big Data Crossroads” -- which showcased the vital role that big data will play in helping the industry to deliver a better travel experience for both business and leisure travellersThe report explores the benefits and challenges of big data adoption for travel companiesAnd highlights big data initiatives from early adopters in the industry to identify current best practices The Amadeus report claims that the transformative potential of big data to the travel industry is the biggest opportunity in a generationSo today will further discuss the key takeaways of the report as well as further explore the implications and opportunities for the various segments of the travel industryAnd to kick things off, we have a couple of poll audience polls for you …
(T. Davenport slide) Introduce Prof. Tom Davenport …
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(T. Cauthen slide)+++++++++++In final summary…We can’t overstate the transformative potential of big data to the travel industry. It is the giggest opportunity in a generation.The big data opportunity comes with challenges for the industry to overcomeNonetheless, the prize is significant in terms of: More intelligent and smarter travel experience Enhancing current industry processesPushing the boundaries of innovationPutting the fun back into travel
(T. Cauthen slide)+++++++++++In final summary…We can’t overstate the transformative potential of big data to the travel industry. It is the giggest opportunity in a generation.The big data opportunity comes with challenges for the industry to overcomeNonetheless, the prize is significant in terms of: More intelligent and smarter travel experience Enhancing current industry processesPushing the boundaries of innovationPutting the fun back into travel
(T. Cauthen slide)+++++++++++In final summary…We can’t overstate the transformative potential of big data to the travel industry. It is the giggest opportunity in a generation.The big data opportunity comes with challenges for the industry to overcomeNonetheless, the prize is significant in terms of: More intelligent and smarter travel experience Enhancing current industry processesPushing the boundaries of innovationPutting the fun back into travel