How Can Data Benefit Businesses in the Tourism Industry?
The travel and tourism sector has been growing extremely fast during the last years due to the digital age transformations. Nowadays, it is one of the pillars of the modern economy as it produces 10.4% of world GDP (Gross Domestic Product -US$8.8 trillion), which means it supports one in ten jobs worldwide, according to the World Travel & Tourism Council. (https://www.wttc.org/economic-impact). It is no surprise that people prefer to spend money on traveling than in the acquisition of material goods, and TIC’s are the best companion for this phenomenon.
Small and medium-sized enterprises that operate in this sector face mostly the same difficulties as large enterprises that receive thousands of people a day: management and marketing insufficiency, seasonality, centralized tourism and one time purchase relationship with the consumer, to name a few. SMEs and cultural organizations with fewer profits that are searching for opportunities to find a place in the fierce market of tourism have been using technology to compete with more prominent companies by using big data and data analyzing. The possibility of knowing more about their audience, patterns, and trends, facilitates the prediction of the tourism market. Therefore, playing with prices, activities, and planning tailored experiences for specific targets can create more successful results for a company.
In the present day, 53% of big companies such as Amazon, Netflix, and Coca-Cola are using data analyzing, compared to the 43-45% of SMEs using data analysis to boost sales and customize better services, to maintain client loyalty. In tourism, travelers want to feel they are treated “exclusively”; therefore, hotels, local stores, and airlines take advantage of data to offer deals and trips according to user’s preferences.
Taking that into account, SMEs should not refrain from accessing data analysis and a SaaS (Software as a Service) platform, which supplies market intelligence by collecting data in order to give insights for making decisions that can help organizations grow, besides giving the chance to consider economic risks depending on the current requirements of the users. With such a changing market, SaaS is the tool for a strategic approach to providing new methods to enlarge the number of customers as well as improve and innovate services.
Having a SaaS platform service optimizes processes and reduces costs. It allows enterprises to be free from local hosts because they can access information from any device that is saved in the cloud. Shake to Win will be launching the SaaS platform soon, where subscribers will get quantitative information about customers in their business area, and details of how many spots are surrounding it, plus full control management of the listing and the number of coupons bought on the app. In addition to all these features, you will be able to expand visibility through branded content and campaigns.
If you want to learn more about our product launch, please visit https://www.shaketowin.net/; we will be posting information related to the new SaaS platform, or feel free to contact us directly at email@example.com.