CONTRIBUTOR: Tammy Marshall
FASTEN YOUR SEAT BELTS AND GET THE RIGHT TALENT AND TECH FOR YOUR BUSINESS
Travel is the world’s largest online market. And while Travel has always been a sophisticated business, the acceleration of technology adoption, coupled with constant technological change and innovation is altering the travel industry as we know it.
Our approach to business hasn’t changed – we’re still focused on delivering exceptional experiences and understanding our customer’s needs. But, technology is increasingly changing how we live our lives and it’s literally transforming our industry by enabling us to learn so much more than we ever thought possible about our customers.
We now have access to so much information with the physical and digital worlds combining to capture rich behavioural data and insights throughout the customer journey. And while every business seemingly has access to tonnes of data, one has to wonder, are we capturing, organising, extracting and interpreting the right data?
Managing and understanding data is a science in itself and it’s in serious demand. We’re seeing a whole new breed of modern analytical roles and new capabilities required in travel and hospitality, from data scientists who are analytical experts with the technical skills to solve problems (they are part mathematician, part computer scientist and part trend spotter) to marketing engineers who are digital professionals responsible for mapping out new marketing strategies from engagement to conversion analytics.
Yes, big data is not new thing but when you add Artificial Intelligence (IA) and machine learning to the equation, suddenly it drives far more complexity but at the same time enables huge potential competitive advantage and relevance into deeper consumer behaviours and insights.
Start-ups really understand the value of data. These transactional businesses are continuously learning about their customers so that they can create new value, remove pain points, enter new verticals, add new revenue streams or collaborate and partner with complimentary brands and together leverage their collective data. But what you should always keep in mind are my top 3 tips.
MY TOP 3 TIPS
- Hire the right talent who understand data, can drive your digital strategy and get under the hood of your businesses’ data
- Technology is key but don’t let it drive your business, your customers should dictate your strategy and technology is the enabler
- AI will revolutionise the travel industry – so get started, start small and learn
Every company no matter how big or small needs to develop their digital strategy and secure talent for their business – so fasten your seat belts and hold on tight cause we might be in for a bumpy ride.
AND DON’T FORGET
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