siliconindia | | July 20168 By John Owens, VP - Travel & Hospitality, InfogainHeadquartered in California, Infogain is a global leader in providing IT services like Knowledge Management, CRM, Integration, Mobility, Software Engineering and Application Management solutions to organizations worldwide.IN MY OPINIONTravel and hospitality sector is a growing sector and the incessant development of travel and hospitality industry has been motivating the key industry players to embrace exceptional measures for en-hancing business efficiency by improving over-all customer experience. A lot of travel industry tycoons are eyeing the science of consumerism to take the pulse of the consumers. The indus-try giants are concentrating more on the dynamic behavior of consumers so that they can forecast business profitability generated by enhancing sales. Consumers of the 21st century are more tech-savvy; thanks to smartphones that enable the Gen Y consumers to go for mobile bookings in the comfort of their home. In such a state of affairs, it becomes highly imperative to keep an eye on changing consumer behavior and make the most of the digitalized trends in travel and hospitality sector. Unfortunately, the truth is that more and more hotels adhere to the age-old norms instead of adapting to the modern trends. Being a data-rich industry, hotels and travel service providers should employ analytics to take advantage of the data to make huge profits.Why Should Travel & Hospitality Sector Utilize Data Analytics?Travel and hospitality sector under went a radical revolution over the last decade owing to ­ · Ever-growing technological innovation and digitization. · Knowledgeable customers with plethora of information available at their fingertips. · Enhanced purchasing power of consumers leading to higher demand for customization.Thus, it has become indispensable for the market players to take advantage of this potential so as to reformulate their business strategies. Since the travel and hospitality sector is growing swiftly, the number of vendors is also escalating; thus the demand for data analytics in the hospitality sector is on the rise. Data analytics play a key role in travel and hospitality sector by helping analyze DATA ANALYTICS -RESHAPING THE FUTURE OF TRAVEL & HOSPITALITY SECTOR
< Page 7 | Page 9 >