What is big data? Why is it important in the travel industry.
The future of data
What is big data?
Big data is data which is stored by all websites and platforms, data stored about peoples personal information, statistics, surveys and more. Data can be files, document, photo, vidios, e-forms, books and more. Data is classified as 5v to help categorise appropriate data, volume, velocity, variety, veracity and value. The 5v of data are important to understand the concept of data and why it is being used in industry’s (marr, 2014).
Volume: refers to the amount of data that is stored or being analysed in the concept. Volume of data deals with terabytes of data.
Velocity: the speed of the data being collected and analysed. Generally being processed at a certain speed.
Variety: data comes in 2 forms structure and unstructured, structure data is name, phone number, address and all other information which can fit in exal spread sheet. Unstructured data in the other hand is data such as photos and videos.
Veracity: refers to over all quality of data depending on the trusted outcome. For example the air craft trafficing control, using data and technology to maximise accuracy and minimise risks.
Value: understanding the benefits and cost of collecting, analysing and storing data. All type of data has its own value amount (marr, 2014).
How has technological advancements allow big data to be used in travel and tourism industry
Big data is used in all aspects of the travel industry from online bookings to in store bookings, hotels, cruse tours even when check in and out. Data is being used to analyse and compare company’s and customers personal chose. The stored data can interpretation which airline a customer has travelled with in the past also which hotel they have stayed with. Based on the personal data the customer knows what to offer their customer. Company’s aim to have repeat customers so that their business can receive good revenue (Sills, 2018).
In the other hand, theirs data science, a type of big data that uses other study’s to be compared and analyse structured and unstructured data. Structured data such as anything that can fit address, phone numbers, name and other information that can fill in exal spread sheet. Unstructured data in the other hand is large amount of data such as photos and videos.
Data is generated and collected from customers, from employees, external sources, saved past accounts and more. For example, when a person books a hotel then their information is stored in their system. Every time that the person books and stays at that hotel, then the hotel will be notified that a repeat customer has returned, the customer has stayer at the hotel before. The hotel employees will then know if the customer had any special request from the last time they stayed. The data helps employees to make the customer stay better experience (Sills, 2018.
How has big data benefit the travel industry
In the travel industry data is a opportunity for hotels and airline company to evaluate what type of customer they are receiving and what type of room their customer should stay in based on past data. The benefit for the travel industry is that in a way company can improve customer stay and their experience so that they can keep coming back.
Positives and negatives of big data
• Gives access to relevant information about customer data which is already stored into the system
• Helps increase economy of travel industry and better improve the travel industry
• Helps connect other business of travel
• Concern of privacy spread of personal information with out pemition
• People not knowing their information is being stored
• Some data may not be use full and people handling data must know how to deal with the data appropriately