Information is power: the travel industry is missing an opportunity
May 31, 2012 | Online Marketing
Despite the fact that the travel and tourism value chain is heavily computerized, the ability to draw insights from all the available data remains limited. This is because the industry tends to be fragmented and silo-based and collaboration is both culturally and practically difficult.
This is in stark contrast to other sectors such as retail, financial services and consumer goods which use data on a daily basis across their supply chains to improve performance, promote efficiencies and better serve the customer.
Maximising the opportunity of inbound tourism is only possible if you are able to understand what the opportunity is – and that can only be delivered by data-led insights.
Information is power, and now is the time for the industry to embrace it. In today’s environment, when growth is proving elusive for many sectors and countries, the travel and tourism continues to be a bright light, with annual growth over the next decade to 2022 forecast to be 4.2 per cent according to the World Travel and Tourism Council Economic Impact Research 2012.
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