Transforming Travel and Hospitality Experiences with Data and AI

We live in a world with more data than ever before. Every coffee we buy, website we peruse, and airline ticket we purchase generates data. Properly accessing, utilizing, and activating that data is getting harder and harder. This is especially true in the travel and hospitality industries.

In order to find success, travel and hospitality companies need the ability to access and activate their data so that it can be used to power decision-making, unlock productivity, and deliver highly personalized experiences. However in order to do that, they must learn how to effectively utilize, integrate, and derive value from the information at their disposal.

Today’s abundance of data poses a challenge to the travel and hospitality industry for three primary reasons:

1. There’s a lot of data and it’s disconnected.

Each action that generates data must be stored and accounted for. However, this often leads to large amounts of data spread across various systems within an organization.

    2. People have multiple identities across multiple channels.

Travelers have duplicate profiles in different systems across an organization. This will only become more complex as we look toward a cookieless future of increased data and privacy regulations.

    3. Customers are indifferent to these challenges.

One in three loyal customers will now switch from brands that they love after even just one bad experience.

These are significant challenges that need to be addressed now. The future will be driven by groundbreaking innovations in artificial intelligence (AI), the insights derived from analytics, and the ability to track data in real time. This makes a travel or hospitality company’s ability to effectively organize and derive value from their data crucial to their future success.