July 09, 2018

Data is the new oil in travel


Data in the 21st century, like oil in the 18th century, will offer huge rewards for those who see its fundamental value and learn to extract it.

“Data is the new oil in travel. With data explosion, we know so much in the last few years than the entire previous history of the human race,” said Mike Croucher, chief architect, Travelport, speaking at Travelport Live 2018, which took place in Bangkok last week.

The importance of data in this digital age was continually underscored throughout the two-day conference, with Travelport executives repeatedly urging travel agents to be more proactive in adopting technology into their business, including data-centric strategies.

“It’s no longer about having a technology strategy but data strategy. If you don’t have a data strategy, you won’t be here long,” stressed Rob Brown, group vice president and managing director – OTA at Travelport.

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