Welcome back, travelers!
Last week we talked about the basics of big data, analytics, and a quick overview of using data to personalize the travel industry, make your company more unique, and how analyzing data can improve the future functionality of your company. This week, we're going to talk a little bit about using data to personalize your business.
These days, most people are wanting to go on vacations that tailor to their interests and favorite activities. Well, good news, using data is a great and easy way to do that. Other than just providing advertisements more relevant to your audience, personalization can help your company create vacation packages to fit those specific audience interests.
In 2006, a technology company in Southlake, Texas, Sabre Holdings, launched TripTailor. TripTailor is a "one-stop shop" that analyzes your data for you (Remember? I said analytics isn't really that scary) and creates the vacation packages.
Basically, what TripTailor does is it grabs allllll of the data from your customers, or a specific group of your customers, and it can analyze everything from if they are frequent travelers, where they travel to, how much they like to spend on their vacations, and what they do while on vacation. Then TripTailor will go through a list of over 1,700 travel activities and 150 different places and create the perfect trip based on that data. Fun fact: in 2002, travel packages generated about $15 billion, after the release of TripTailor in 2006, the $15 billion jumped to over $23 billion. From 2002 to 2006, the percentage of packages booked grew from 11% to 45%.
See? Data personalization can do a lot of really cool things for your company, and the travel industry in general. Analyzing personalized data, like TripTailor, is a great way to create the perfect travel packages for your clients, all while allowing you to cater to their price points.
Well, there was just a little bit about personalization and how it can help your company stand out. Next week, we'll discuss uniqueness and data in the travel industry. Until then…
Happy trails!
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