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Data is a huge topic for any travel brand to tackle. It’s particularly relevant when it comes to transforming data insight into opportunities for market growth and international expansion.
Amadeus has a unique position when it comes to helping our partners discover ways to maximize revenue. We have insight into traveler behavior and preferences like how far in advance people explore destinations, how far in advance they book, what type of travel they purchase, and their preferences for ancillaries.
Opportunities to enhance user acquisition
Recently, I participated in a podcast conversation – Data as a Priority and Opportunity in Travel Growth – with Ella Schreiber of Hopper and John Matson of VoyagerHQ. We discussed how when companies combine their insight with other industry insight, opportunities can be created for more personalized experiences. For instance, Amadeus’s data intelligence products can be leveraged by companies such as Hopper, a travel app that predicts future prices for flights and accommodations. Amadeus can help companies like Hopper maximize the relationship of their loyal customer base with insight into the probabilities a consumer will book a trip at various price points.
Insight to support international expansion
With presence in nearly 190 countries, Amadeus is an ideal partner for travel companies, particularly startups, that want to expand internationally. Data science plays a key role in helping our customers explore different market opportunities and understand where to expand. Our data science team, together with local expertise, examines the entire landscape of a potential market, looking at economic and political situations in a country, examining cultural barriers and customer purchasing behavior. Leveraging such rich data insight and consultation, our partners can validate a market before even entering it.
Leveraging artificial intelligence and machine learning
The predictive analytics of artificial intelligence (AI) and machine learning (ML) are becoming more and more prevalent in travel, and Amadeus is a driving force for these advanced technology capabilities. Companies such as Hopper rely on AI and ML to identify demand trends and handle price predictions. It’s essential that when a user searches, they can see the forecasted pricing curve and identify if the current price is the best price for a trip, or if they’re better off waiting to score a better deal in the future. Our next generation search platform is deploying ML capabilities in different components to cope with the high demand of traveler searches, improving both relevancy and content quality.
Looking toward the future, travel companies are investing a lot of time looking at how to consolidate ever-increasing amounts of data. Amadeus is already thinking ahead concerning how we can solve this problem for our partners, helping them transform data into actionable insights that lead to growth opportunities for online travel agencies
Want to learn more about how Amadeus turns data insight into big opportunities? Listen to this Travel is Your Business podcast.