Related Insights on Data and AI for travel

Data analytics has a crucial role in the ever-changing travel industry. It helps businesses stay at the top of the game while increasing ROI. Here, we’ll discuss the  top  travel analytics solutions provider to partner with in the US market.  The travel industry suffered during the Covid-19 pandemic but is quickly recovering from losses as people around the world resume travel  . According to Statista, the global revenue earned by the travel industry will touch $927.30 billion in 2024 and grow at a CAGR (compound annual growth rate) of 3.47% to reach $1,063 billion by 2028. Similarly, online sales in the industry are expected to be around 76% by 2028.  Travel companies, hotels, resorts, and other businesses in the travel and hospitality industry are revamping their processes to adopt data-driven technologies and provide quality services to customers. Data analytics has become a core differentiating factor that gives  businesses a competitive edge over others in the local and international markets. It’s no surprise that the big data market volume is to record $84 billion in 2024, with the big data analytics market projected to reach $349.56 billion by year-end.  Let’s understand the importance of data-driven decision-making in the tourism industry and learn more about the top five companies offering travel analytics solutions in the US and global markets.  How is Data Analytics Used in the Travel Industry? Data analytics allows businesses to process large amounts of data to derive meaningful insights for decision-making. Data analytics and business intelligence have helped many industries successfully initiate digital transformation. They have a similar role in the travel sector. Tourism data insights can be used to streamline internal processes, offer better and more personalized services, enhance customer experience, manage pricing and expenses, and increase ROI. From strategy formation to minimizing the risk of disruptions and losses, data analytics can help the travel industry in several ways. Many businesses are hiring travel analytics solutions providers to convert their data into actionable insights for more effective decision-making.  What is Travel Analytics? Travel analytics is data analytics and business intelligence in the travel industry. It involves statistics, analytical tools like Power BI, data visualizations, machine learning algorithms, artificial intelligence models, etc., to derive real-time insights.  Travel analytics helps identify the patterns and trends in historical data. It provides context and helps detect the root cause of different challenges faced by companies in the sector. Hospitality BI solutions help business organizations optimize their processes at different levels to provide high-quality services to customers.  Top 5 Travel Analytics Solutions Companies to Partner With  DataToBiz DataToBiz is a well-known service provider offering managed analytics for the travel industry. It works with startups and established travel businesses, chains of hotels, resorts, vacation property owners, and others to provide real-time analytical insights about customers, market trends, pricing, etc. The company also delivers advanced solutions for data warehousing for tourism businesses to collect and store their datasets in a central repository. The data warehouse is integrated with data sources and analytical tools to continuously provide actionable insights to decision-makers across all departments.  DataToBiz helps businesses overcome various challenges faced in the travel and hospitality industry. For example, it provides predictive analytics for demand forecasting, price optimization, and capacity planning. It promotes operational efficiency by streamlining the supply chain, optimizing the workforce, setting up triggers for fraud detection, etc. The company also takes care of risk management to create seamless workflows within the business. DataToBiz helps travel agents and hoteliers understand customer requirements and create personalized packages accordingly.  This award-winning company is a certified partner for Microsoft, Google, and AWS.  Amadeus  Amadeus is a travel analytics solutions provider in the global market. The company has clients in over 190 countries and is used by the top businesses across the travel and hospitality industry. It works with various businesses like airlines, hotels, travel agencies, cruise companies, airports, rail companies, etc. The company offers a range of products for different requirements. It provides end-to-end services for business management, analytics, operations, payments, and travel advertising. Be it process automation, API integration, or collaborations, the company delivers the necessary solutions to make it happen.  The solutions offered by Amadeus are categorized into products, services, content, and extensions. The company has 359 products, such as an A-CDM portal, booking analytics, productivity tracker, search analysis, dynamic pricing planner, and many more. It has developed an ecosystem where travel companies, payment providers, airlines, hotels, etc., can collaborate and work together to offer premium services to customers. It has won various awards and is also focused on promoting sustainable solutions.  TravelSpends  TravelSpends offers real-time analytics for businesses in the travel and aviation industry. It helps optimize travel expenses (T&E) by deriving in-depth analytics about business costs, etc. Tripnomics is a product developed by the company to capture travel patterns, optimize pricing, and increase transparency in the entire supply chain. The platform provides real-time validation for price changes and helps with continuous monitoring. It also ensures that the managers and decision-makers have complete control over the process. Furthermore, the platform is regularly updated to ensure it adheres to the rules and regulations in the industry.  TravelSpend assists businesses to adopt and effectively use technology for greater travel management reporting and decision-making. #Twitconnect, My Visa Track, and Trip Authorization Tool are a few other solutions offered by the company. It works with multinational organizations, Fortune 500 companies, government and public sector agencies, and other SMEs. The company offers consulting services for different requirements like strategy, technology adoption, solution implementation, and differentiation. It has helped many businesses save money by optimizing costs without compromising quality.  Accenture  Accenture is a popular multinational company with decades of experience in offering varied services to businesses around the globe. The company has a strong presence in the travel industry and works with businesses to help them regain their growth in the competitive market. It helps travel agencies reinvent their processes in the post-pandemic scenario and tackle the changing market conditions effectively. The company also focuses on enabling businesses to understand what the customers want by delivering tailored real-time travel analytics solutions.  Accenture emphasizes the importance of innovation and technological

In 2024, data-driven decision-making is driving the travel and tourism industry. Data warehousing consulting companies offer personalized experiences and streamline operations. Here are the leading data warehousing consulting companies for US travel and tourism. The travel and tourism industry stands at the crossroads of innovation with data-driven decision-making being the critical driver. As destinations strive to offer personalized experiences and streamline operations, the role of data warehousing for tourism has emerged as a linchpin for success. With close to 70% of all travel bookings being made online, it is the right time for the industry to move towards building a positive experience for the long term. The industry relies on several data sources, from customer preferences and booking patterns to operational logistics and market trends. A comprehensive data warehousing strategy becomes the backbone, seamlessly integrating, managing, and analyzing this wealth of information. This not only enhances operational efficiency but also empowers businesses to anticipate and meet the dynamic demands of today’s travelers. Yet, the implementation of effective data warehousing solutions isn’t a standalone endeavor; it necessitates a strategic partnership with data warehousing consulting companies. Beyond the intricacies of technology, consulting services bring invaluable expertise to the table, ensuring that data warehousing aligns seamlessly with organizational goals. 7 Top Data Warehousing Consulting Companies for US Travel & Tourism in 2024 Selecting the right data warehousing consulting partner sets the right foundation for a travel and tourism business. Here are the 7 top data warehousing consulting companies for US travel & tourism in 2024: DataToBiz DataToBiz has established itself as a go-to partner for organizations seeking comprehensive and cutting-edge travel analytics and managed analytics solutions. With a robust suite of services, the company excels in providing expert guidance through its data warehouse consulting, helping clients navigate the complexities of design and infrastructure analysis. Managed analytics professionals at DataToBiz not only recommend optimal alternatives, such as cloud or hybrid data warehouses but also craft robust data integration strategies for managed analytics for the travel industry. Going beyond consultation, the company demonstrates prowess in the development and implementation of data warehouse solutions, tailoring them to meet specific organizational needs within defined timeframes and budgets enabling data-driven decision-making in the tourism and travel sector. Specializing in seamless data migration strategies, DataToBiz envisions a future where data resides in the cloud, offering dedicated support services to ensure ongoing functionality and performance monitoring. With a commitment to holistic data solutions, DataToBiz emerges as a trusted partner, transforming data into a strategic asset for sustainable business growth. Capgemini Capgemini stands as a renowned leader in data management, specializing in providing tailored data warehousing services for the travel and tourism industry. Recognized for their expertise, Capgemini excels in seamlessly integrating disparate data sources, constructing resilient data lakes, and crafting sophisticated data-driven strategies. With a commitment to excellence, they offer comprehensive solutions that empower businesses in the travel and tourism sector to harness the full potential of their data for informed decision-making and operational efficiency. Infosys Infosys, a prominent IT services provider, stands out as a premier data warehousing company with substantial expertise in the US travel and tourism sector. Renowned for its capabilities, Infosys excels in implementing cutting-edge data platforms, automating processes, and upholding robust data governance standards. With a proven track record, Infosys empowers organizations in the travel and tourism industry to leverage advanced data warehousing solutions, fostering efficiency, reliability, and strategic decision-making. Cognizant Ranked among the top data warehousing consulting companies for US Travel & Tourism in 2024, Cognizant brings a robust emphasis on data analytics and digital transformation to the table. Leveraging their expertise, they assist travel and tourism companies in constructing modern data warehouses, extracting actionable insights crucial for informed decision-making. Cognizant’s proficiency extends to providing cloud-based solutions, capitalizing on their industry-specific knowledge to deliver valuable assets for businesses navigating the dynamic landscape of travel and tourism data management. With a focus on innovation, Cognizant stands as a strategic partner for organizations seeking cutting-edge solutions in data warehousing. Mu Sigma Mu Sigma, a global leader in data science and analytics, emerges as a key player in delivering innovative data warehousing solutions tailored to the unique needs of the travel and tourism industry. Renowned for its expertise in predictive analytics and machine learning, Mu Sigma empowers businesses to optimize pricing strategies, personalize offers, and enhance customer engagement. As the world’s largest pure-play Big Data analytics and decision science company, Mu Sigma collaborates with over 140 Fortune 500 companies, amplifying productivity and providing meaningful solutions by integrating people, processes, and platforms. ThoughtSpot ThoughtSpot emerges as a rising star in the data analytics arena, providing a distinctive search and navigation platform designed to simplify data exploration and analysis for business users, eliminating the need for technical expertise. In the context of the travel and tourism industry, ThoughtSpot’s innovative solution proves especially valuable. It facilitates the democratization of data access, empowering teams within travel and tourism companies to make informed, data-driven decisions. ThoughtSpot’s commitment to travel revenue management analytics aligns with the growing demand for intuitive tools, making it a compelling choice for organizations seeking to enhance their analytical capabilities in the dynamic landscape of the travel and tourism sector. IBM As a technological behemoth with a storied legacy in data management, IBM stands out as a powerhouse providing robust data warehousing solutions, including Db2 and Cloud Pak for Data. IBM’s unparalleled expertise in AI and analytics proves instrumental in enabling companies to achieve a profound understanding of their customers. By leveraging IBM’s cutting-edge solutions, businesses in the travel and tourism sector can unlock the potential for personalized experiences, enhancing customer engagement and satisfaction. IBM’s commitment to innovation continues to make it a strategic partner for organizations seeking to harness the power of advanced data warehousing in their operations. Industry Trends: Data Warehousing for Travel and Tourism Industry The travel and tourism industry is undergoing a data revolution, fueled by the explosion of digital bookings, mobile apps, and social media interactions. This has generated a treasure trove of

Data Analytics brings endless opportunities for the travel industry. A large amount of valuable data is generated at every stage of a trip and with a lot of people traveling around the globe, this data can offer significant insights. Travelers buy stuff online, create an itinerary, save dates on calendars, use GPS to reach their destination and so on. At every stage of their trip, they leave a data trail. The experts now analyze this data and infer various insights to enhance the customer traveling experience. However, collecting this data and connecting it is a  bit of a challenging task for data analysts, but the discernments obtained can revolutionize the travel industry and make this venture a more profitable business than it was ever before. There are several ways in which data analytics services are currently assisting the travel industry to do better and meet its goals. Business Data Analytics in Travel Industry Machine Learning and Artificial Intelligence are picking up traction in the travel industry to help airlines and hotels make data-driven decisions based on accurate and actionable insights. Business analytics provide real-time insights about customers using data from multiple sources. Data like flight bookings, hotel stays, schedule patterns, repeat bookings, flight preferences, and so on is collected from websites, apps, social media, customer accounts, etc., and stored in a centralized database. This data is cleaned and processed to avoid redundancy.  Analytical tools are used to analyze this data in real-time and share insights with the business to help make strategic decisions. Business analytics in the travel industry help airlines and hotels understand customer behavior and market trends. When the airline knows what a customer expects or wants, it can customize the services to enhance customer experience and thus inspire brand loyalty.   Business analytics helps in the data-driven transformation of the travel industry. The pandemic has pushed the travel industry into losses and havoc. Business analytics is a way to bring the necessary change and empower the airlines to recover from the dire situation and come out stronger.  Experts claim that the use of predictive and prescriptive analytics will be a game-changer in the industry. Data science and predictive modeling can help airlines uncover critical intelligence to provide real-time actionable insights that help in recovering and gearing up to make the most of new market opportunities.  An important aspect to consider is automation. Even though many businesses are already using data analytics, they spend too much time, energy, and money on cleaning the data rather than running analytics and using the insights. Artificial intelligence and machine learning make automation possible by streamlining data collection, cleaning, and storage processes. This gives airlines more time to run queries and use the insights without delay. Designing an Effective Business Strategy To build an effective business strategy it is important for an organization to be aware of its customer base and its preference. With the help of data analytics and predictive analytics tools, the data collected in the form of feedback, customer reviews, social media posts, etc. is utilized to infer the behavior pattern of the customers. This, thus, causes the organizations to comprehend their customer’s needs and offer services that will bring them more benefits. The bits of knowledge are utilized by the firm to tailor customized plans for its clients.  Better services offered by the firm not only help to retain loyal customers but also boost sales and improve reputation. Let’s You Stand Out in the Crowd When a traveling firm uses data analytics services to distinguish itself from its competitors, it is able to create lucrative offers that cater to the needs of the clients and at the same time help you to gain an edge over others. For instance, Amadeus (a Global Distribution System) allows its users to ask simple travel-related questions without entering any personal details. The questions can be as basic as – When will I get the cheapest flight to Italy? Or is it possible to travel somewhere for just 700 $? These types of services make it very convenient for users to clear their travel-related doubts and get reliable advice. Once a customer starts to trust the product, he/she will definitely return to use it and in the process become a loyal customer. However, retaining customers is another challenge that must be carefully dealt. Improve the Pricing Strategy While planning travel, money is one of the major concerns. People spend hours and days finding that one tour package that can offer them the best deals without cutting a hole in their pocket. But how would the firms know beforehand what the customer wants from them? The simple answer could be data analytics. All searches made by the visitors’ on a firm’s website can be used to infer the budget that a major chunk of people can afford to travel. Keeping this in mind a well-tailored travel plan can be devised and placed on the website. This is the strength of applying data analytics, you can predict what will happen next.  For instance, firms like KAYAK have been using data analytics to forecast the changes in flight prices for the coming seven days. Taking Better Decisions Taking upright decisions is one of the key aspects of improving a business. With the help of data analytics, travel planners are able to draw better choices based on real predictions and not just intuitions. Data analytics allows the firms to develop customers’ profiles and thereby helping them to accurately target the market campaigns. As per Forrester, data analytics tends to increase customer responsiveness up to 36%. Being able to comprehend the demand of the customer and recent ongoing trends in the market lets the companies peep into the future and perform accordingly. The famous Nippon Airways uses data analytics to optimize its cargo management system thus making it one of the largest airlines in Japan. Making the Tough Easy Having data analytics at your disposal prevents painful losses and enhances revenue for the travel industry. To understand this,

Traveling to meet clients and stakeholders is a part of the process for several organizations. A good percentage of day-to-day traveling are businessmen and women flying from one city/country to another for meetings and conferences. The industry has changed tremendously over the years. Air travel has become a preferred choice of most enterprises as it saves time compared to other modes of transportation. Allowing people to check-in from their mobile phones instead of waiting for long hours at the airport is one major development. However, the rise of the COVID pandemic in 2020 has disrupted all industries, and the travel sector is no exception. Flights have been canceled; the borders between countries were closed. Even the borders between the states were closed to prevent people from traveling and spreading the virus. While this led to substantial losses, it further pushed the industry to come up with new ways and promote safe travel for people. Technology has become an inherent part of this change. Be it self-serving machines, contactless transactions, or replacing customer care staff with virtual assistants to contain the spread of the virus, artificial intelligence and machine learning or ML can help you beat business travel risks on a large scale. Safety First When Traveling Employee safety has become one of the primary concerns for airports and airlines. The staff is at high risk of getting infected because of the nature of their work. This directly impacts productivity. At the same time, the health of the passengers traveling on the same flights is also a matter of concern. AI solutions are helping to manage these risks and facilitating safe travel while also ensuring that the staff is not exposed to the virus. Facial recognition systems, predictive maintenance, and contactless luggage screening are a few ways in which AI and ML are being used in the aviation industry. Masks, sanitizers, and face shields are an inherent part of the process to stay safe when traveling. But to arrange for safe travel, it is the technology that comes to the rescue. The Need for Technology – What is Machine Learning? Many airlines and airports are investing in ML to get back on track and increase their productivity without risking the lives of the people involved. But what exactly is machine learning? Is there a need to hire the services of a Machine Learning consulting company to adopt new technology? It is a subset of artificial intelligence. It is a method of data analysis that teaches computers to understand data and make a decision with minimum human interaction. This algorithm allows the system to learn from its mistakes and improve its efficiency to produce more accurate results. However, the vital point is that the airlines can be productive even in risky situations like the pandemic by using AI and ML services. Coming to the second question, it is not compulsory to hire offshore AI consulting companies to adopt the technology. However, revamping the business processes is not easy unless there is the right kind of support. This support comes from experienced consulting companies that offer personalized services to various organizations. Ways ML Can Help You Beat Business Travel Risks There are several ways in which machine learning can increase the productivity of airlines. We will first see how ML can reduce business travel risk and then read about how ML can be used in other areas of the travel industry. 1. Customization of the Trips Travel companies and airlines are now offering customized plans based on your travel history. Based on your previous flying experiences and preferences, a personalized travel program will be charted by the machine learning algorithm. There are already apps that use smart calendars to create a travel plan for the sales personnel. X.ai already allows similar functions. The apps have up-to-date information and can plan your entire travel program more effectively as they also consider the risk quotient, the delays in flights, the difference in time zones, and more. Machine learning can reschedule your itineraries based on your travel requirements and factors that affect your program. This is highly advantageous for business travel as it saves time and money for the enterprises who pay the expenses on behalf of the employees. It also helps streamline the trip to make it successful. 2. Self-Service Check-ins for Contactless Transactions Check-ins with as little contact as possible is a great way to prevent the virus from spreading, isn’t it? AI services let you check-in in advance, not just in the airports but also in hotel rooms. Some hotels in countries like Singapore are offering contactless check-ins. You can check-in via the app and also request any extra services you might need. You’ll be provided with a QR code that needs to be scanned at the hotel so that you can check into your room straight away using the kiosk. There is no need to talk to the reception staff or enter your details anywhere. There isn’t any need to sign your entry and risk touching items that could spread the virus. Singapore’s Changi Airport Terminal 4 is using automation, while the CitizenM hotel group is offering self-service check-ins for guests. 3. Humanoid Robots and Robotics to Replace Humans The Bangalore International Airport in India is planning to use humanoid robots in place of human employees. A local startup has been working on building the humanoid to assist passengers during travel. Sirena Technologies has also built the first Indian Humanoid Robot, Nino that enables a novel and modern approach to education. Similarly, airlines are starting to replace robot-driven aircraft tractors to take passengers to their flights. By reducing the involvement of employees, airlines can continue to fly planes and stay productive even in adverse conditions. There is an idea to use automated kiosks to check the temperature of the travelers along with their travel details, all in one place. This will eliminate the need for employees to handle the passports and other papers of the travelers. 4. Screening Luggage Using Artificial Intelligence Luggage