Big Data in Travel and Tourism - Thematic Research
Big data is increasingly important for travel and tourism companies as the sheer amount of data collected needs to be properly analysed to make informed decisions.
This thematic research report takes an in-depth look at the theme of big data and the impact it has on the industry, its players, and also on tourists. The report covers the main themes occurring in the industry, real-life case studies a unique thematic analysis of the impact on the industry including recommendations for travel & tourism companies. Additionally, we highlight the public and private companies involved with big data.
“The travel and tourism industry can be made more profitable and efficient with big data analytics. Billions of trips are taken each year and each of these creates multiple data points that are easily recorded through ticket purchases, hotel bookings, and internet searches. Companies are investing in the technology to different extents and those that are only doing so superficially will likely fall behind those that fully understand the power of big data analysis.” - Laura Beaton
With the huge amount of information collected about travelers around the world, companies are able to make use of targeted marketing to attract the right customers at the right time.
The misuse and mishandling of personal data is a hot topic, thanks in large part to the scandal involving Facebook and Cambridge Analytica. Increased regulation around the storage and processing of data is highly likely - indeed, it is already underway in Europe in the form of the General Data Protection Regulation (GDPR), which came into force in May 2018.
The full-scale mainstream adoption of 5G, which is still a few years away, has the potential to increase data consumption globally. 5G is expected to enable faster speeds (up to 20 gigabits per second (Gbps) per user) and connect around one million devices per square kilometer (approximately 10 times more than with 4G).
So many aspects of booking can be affected by big data analytics - marketing, pricing, and seat or hotel room allocation are just some of these. According to the GlobalData 2019 Q3 survey, online travel agents (OTAs) are the most used avenue for booking travel.
Big data is continuously changing the way tourism brands price and target their customers, by providing more tailored and ultimately better product and service offerings based on the available information. This translates to dynamic pricing (adjusting ticket and room prices based on demand) to ensure firstly that prices remain competitive, and secondly to reduce the likelihood of lost revenue through a lack of bookings.
Reasons to buy
- This report provides an overview of the impact of big data analytics on tourism and clearly defines the various faces of the theme.
- It identifies the main trends related to the theme, classified into six categories: travel & tourism trends; data trends; technology trends; data center trends; macroeconomic trends; and regulatory trends.
- This report identifies several case studies to illustrate how big data impacts the industry, including examples from British Airways & Hilton Hotels & Resorts. Additionally, it provides an insight into what companies are doing to increase their understanding of the technology.
- Our unique thematic methodology provides an in-depth analysis on the impact of the theme on the travel & tourism industry, underlining several ways that companies can use big data to improve their operations.
- We highlight public and private companies involved with big data, including Airbnb and Hopper.
- Understand the impacts of big data on travel & tourism companies, using case studies and examples to help you understand how you can learn about and adapt to the technology.
- Assess the strategies that companies are adopting to collect, analyse and use the wealth of data available to them.
- GlobalData's thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.
- Table Figure 1: Who are the key players in the big data industry and where do they sit in the value chain?
- Technology briefing
- The age of distraction
- Table Figure 2: V4: The four dimensions of big data
- Table Figure 3: The digital unit scale
- Table Figure 4: The volume of data traffic has risen sharply
- Table Figure 5: As the volume of data traffic has risen, the cost of computing has plummeted
- Travel & tourism trends
- Table Travel & tourism trends
- Data trends
- Technology trends
- Data center trends
- Macroeconomic trends
- Table Macroeconomic trends
- Regulatory trends
- Industry analysis
- Table Figure 6: Mobile broadband data traffic will grow at a CAGR of 25% between 2018 and 2024
- Mergers and acquisitions
- Table Mergers and acquisitions
- Table Figure 7: The big data story
- Impact on the travel & tourism industry
- Table Figure 8: Top 10 busiest airports in the world
- Table Figure 9: According to GlobalData, 44% of travelers use OTAs
- Table Figure 10: Current understanding of emerging technologies
- Table Figure 11: Current investment in emerging technologies
- Travel & tourism case studies
- Recommendations for travel & tourism companies
- Value chain
- Table Figure 12: Big data needs to be reliable, robust and secure
- Big data generation
- Big data management
- Table Figure 13: Data governance and security: leaders and challengers
- Table Figure 14: BI: leaders and challengers
- Table Figure 15: Data analysis: leaders and challengers
- Table Figure 16: Data storage: leaders and challengers
- Table Figure 17: Data processing: leaders and challengers
- Table Figure 18: Data aggregation: leaders and challengers
- Table Figure 19: Data integration: leaders and challengers
- Big data product development
- Big data consumption
- Public companies
- Private companies
- Travel & tourism companies
- Table Travel & tourism companies
- Appendix: Our thematic research methodology
- Viewing the world's data by themes makes it easier to make important decisions
- Traditional research does a poor job of picking winners and losers
- That is why we developed our "thematic engine"
- How do we create our sector scorecards?
- Table Figure 20: Our five-step approach for generating a sector scorecard
- What is in our sector scorecards?
- How do we score companies in our thematic screen?
- How our research reports fit into our overall thematic research ecosystem
- About GlobalData
- Contact us