Business Intelligence

Business analytics provides new ways to segment and comprehend customers and other prospects. You can distribute your prospects into different groups based on age, gender, marital status, income, and geography. This helps in deriving effective campaigning and targeting strategies.

Analyzing competition data helps in developing effective discount strategies. You get a better understanding of the market needs and optimize your pricing with an eye on margins. It helps in dynamic adaptation to reduce costs while maintaining service quality.

The descriptive analysis helps in identifying problem areas and helps following a proactive approach to address the issues. You can also critically examine different scenarios to weigh the effectiveness of different strategies.

You can simulate and study the pros and cons of various possible actions you can take to address a particular situation and find the best way out. Precise and real-time Information about external factors can help in the timely adaptation and implementation of the course of correction.

Enterprise management

The travel and hospitality industry works with the collaboration of several departments and stakeholders. By sharing critical information with the stakeholders in real-time can help timely actions and dynamic adaptation of situations to improve profitability.

Predictive analysis assists in accurate financial planning and helps in refining the plans in real-time. The changes can be communicated and implemented at all business levels promptly to ensure the best outcomes.

You can plan your marketing considering seasonality. This helps in determining targets and assigning them to your people at different channels and locations. Business intelligence helps in managing the workforce of your enterprise. You can evaluate the extent the individual targets are met and assess the productivity of each employee.

Advanced analytics

One of the most useful implementations of advanced analytics tools is to derive information related to customer behavior and trend forecast. This helps in enhancing the services and making them more profitable for the company. You can provide more relevant and personalized recommendations that increase the probability of cross-sale and up-sale.

You can foresee and predict the possibility of customer churn and make offers and rewards to improve retention. Data analytics provide unmatched insight into customer satisfaction levels by steering and scrutinizing feedback, ratings, and profile information. Such information can mean the difference between success and failure of a company in the hospitality and travel industry.

During the past decade, the travel and hospitality industry has transformed significantly. Travel is not just providing luxury tickets or planning trips. Companies have to consider a complete 360-degree view of customer service to provide unique service and make their customers feel special and valued. The only way to retain the customers is by making their trip memorable in all respects.

Customers are drifting more towards digital travel where they can arrange everything with the least hassle and in minimum time. Data science and machine learning technologies can provide several ways for these companies to derive fresh ideas to utilize their data.