Personalization: Unlocking an underserved consumer, Glossy Forum, October 20th, 2016
Unlocking 1 Trillion $ for Travel Industry Via CODE ... › PDF › infographic ›...
1
Unlocking 1 Trillion $ for Travel Industry Via CODE ITINERARIES Big Data To Analytics & Personalization To sway the tech-savvy travellers, the travel companies should be one step ahead, making use of every data which can be harnessed to understand a traveller's persona. Big data renders an opportunity for interactions to be based on the personality of the customer. Personalization is all about conveying distinctive messages & content to specific customers at the right time, in the right sequence, on the right platform & with the right context. Challenges Surrounding Data Availability of gigantic volumes of data presents both opportunities & challenges. The risk of taking conclusions from data as gospel without discerning that there is still a degree of subjectivity, that the correlations may be misleading, or that the underlying sources could just be inaccurate. Data professionals must be vigilant about drawing the wrong conclusion and need to be aware of the limitations. Age Gender Geography Contact Details Devices CRM Life Time Value Affinity Visiting Site Reviews Profession Preffered Channels Purchase Power Business & Social Life Purchase History &Many more... Digital Trials 56% 74% 60% 75% 77% consumers are more likely to shop with retailers who offer personalization. believe real-time personalization is crucial. say “dynamic personalized content” across channels is very important. get frustrated by seeing content that doesn’t match their interests. struggle to personalize content in real-time. Despite Challenges Big Data Drives Results How to Win a Piece of Trillion $ Cake? 49% Develop the digital foundation Personalization is key Plan, sense and respond 35% 30% Big data keeps the wheels of business turning. The Exhilaration of victory comes after overcoming challenges and Big data usage in the right manner linked with set guidelines and fewer apprehensions can drive substantial results for businesses. Increase in revenue growth for companies that invested in analytics versus those that did not. Marketers say that data has improved customer engagement through personalization. Higher ROI for companies that invested in analytics compared to those that did not. The most crucial aspect is digitization, and it is based on data. With cloud- based solutions operating in the market, travel companies have ample opportunities to grab. Machine learning and business intelligence tools solve the crisis of analytics. Ability to create traveller’s personas through code itineraries to understand the behaviour of travellers. The travellers are very clear about what they need. With cloud-computing, it is possible for an organization to make several iterations quickly and choose the best Plan to go to market with. Forecasting should be done based on data available in order to avoid any uncertainty. The response of companies should be codified to evade delays and bad repo. Digitize or Decay! Digitization has the potential to unlock rusted locks and discover “trillion dollars”. Lingering around traditional ways and non-compliance with technology will bring a collapse of the business. Source: State of data in travel survey,2017|RateGain| IBM | CMO council/SAS 45.70% 39.10% 32.30% 31.70% 31.40% 11.10% 15.40% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% 45.00% 50.00% 2017 Data security Complying with laws & regulations Effective segmentation & personalization Training for staff Deploying analytics timely Consistent data strategy Data quality Want to know more about personalization and Code Itinerary in Travel? Mail us at [email protected] and we will connect you to our data lake specialist.
Transcript of Unlocking 1 Trillion $ for Travel Industry Via CODE ... › PDF › infographic ›...
Unlocking 1 Trillion $ for Travel Industry ViaCODE ITINERARIES
Big Data To Analytics & Personalization
To sway the tech-savvy travellers, the travel companies should be one step ahead, making use of every data which can be harnessed
to understand a traveller's persona.
Big data renders an opportunity for interactions to be based on the personality of the customer. Personalization is all about conveying distinctive messages & content to specific customers at the right
time, in the right sequence, on the right platform & with theright context.
Challenges Surrounding DataAvailability of gigantic volumes of data presents both opportunities &
challenges. The risk of taking conclusions from data as gospelwithout discerning that there is still a degree of subjectivity, that the
correlations may be misleading, or that the underlying sources could just be inaccurate. Data professionals must be vigilant about
drawing the wrong conclusion and need to be aware ofthe limitations.
Age
Gender Geography
Contact Details Devices
CRM Life Time Value
Affinity Visiting Site
Reviews Profession
Preffered Channels Purchase Power
Business & Social Life
Purchase History &Many more...
Digital Trials
56% 74% 60%
75%77%
consumers are more likely to shop withretailers who offerpersonalization.
believe real-timepersonalization is
crucial.
say “dynamicpersonalized content” across channels is very
important.
get frustrated by seeing content that doesn’t match their interests.
struggle to personalize content in real-time.
Despite Challenges Big Data Drives Results
How to Win a Piece of Trillion $ Cake?
49%
Develop thedigital foundation
Personalizationis key
Plan, senseand respond
35% 30%
Big data keeps the wheels of business turning. The Exhilaration ofvictory comes after overcoming challenges and Big data usage in
the right manner linked with set guidelines and fewer apprehensions can drive substantial results for businesses.
Increase in revenue growth for companies
that invested inanalytics versus those
that did not.
Marketers say that data has improved customer engagement through
personalization.
Higher ROI forcompanies that
invested in analytics compared to those that
did not.
The most crucial aspect is digitization, and it is based on data. With
cloud- based solutions operating in the market, travel companies have ample opportunities to grab. Machine learning
and businessintelligence tools solve the crisis of analytics.
Ability to createtraveller’s personas
through code itineraries to understand the
behaviour of travellers. The travellers are very clear about what they
need.
With cloud-computing, it is possible for an
organization to make several iterations quickly
and choose the best Plan to go to market
with. Forecasting should be done based on data
available in order to avoid any uncertainty.
The response ofcompanies should be
codified to evade delays and bad repo.
Digitize or Decay!
Digitization has the potential to unlock rusted locks and discover“trillion dollars”. Lingering around traditional ways and
non-compliance with technology will bring a collapse ofthe business.
Source: State of data in travel survey,2017|RateGain| IBM | CMO council/SAS
45.70%
39.10%
32.30%
31.70%
31.40%
11.10%
15.40%
0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% 45.00% 50.00%
2017
Data security Complying with laws & regulations Effective segmentation & personalization
Training for staff Deploying analytics timely Consistent data strategy
Data quality
Want to know more about personalization and Code Itinerary in Travel?Mail us at [email protected] and we will connect you to our data lake specialist.
