The adoption of new-age technologies such as Big Data, Analytics, AI, Machine Learning and others, has accelerated the growth of travel sales at digital plethora in the past few years. Out of all the technologies, big data and machine learning play a significantly important role in driving success to the business.
Reportedly, in 2016 alone, travel industry made more than US$500 billion. The below application of these technologies will surely give a window to understand how they are transforming the travel experiences of customers.
The most common implementation of AI/ML technology on digital platforms is the recommendation engine. From Amazon to Netflix the technology has contributed a lot in generating whopping revenues for the brands. The automated recommendation based on customer data significantly brings acceleration in sales, upsell and lures loyal customers to come back.
Flight and Hotel Price Prediction
Have you ever wondered how you get the best deals of hotels and flights out of such an enormous pool of choices? Thanks to the price forecasting AI and Data Science tools which automatically monitor the market and send notifications with the significant hottest deals available. Addition of such a tool to an online travel agency’s portal provides an edge to its sales and also hook customers in and tempts them to book more trips.
Smart Travel Assistants
In this fast-paced environment, users surf those sites which provide them quick, convenient and frictionless service. By the virtue of virtual travel assistants, data analytics assists the customers to opt for better choices. Also, certain digital applications employ AI to automate repetitive tasks and ML technology via chatbot system provides assistance to the customers. The overall process seems like a personal assistant guiding the user through the booking procedure.
Optimizing Disturbances in Management
The technology also resolves obstacles that traveller might face on their way to the destination. It automatically handles roadblocks in the plan. AI advancements along with predictive analysis provide an edge to prevent hindrance even before it occurs.
Interactive Customer Support
AI/ML chatbots are an interesting way to optimize various aspects of customer service and assistance. Through a custom programmed chatbot, customers can be provided with basic informational and transactional services for a smooth experience.
Customized Offers for Valuable Customers
Loyalty programs are not any surprise element in the travel business but with the touch of AI, these plans offer tailored offers for most valuable customers now. Gathering the details from legacy data and customer activities, certain AI tools generate a strong model for offering a great deal to loyal clients.
Customer Sentiments Analysis Through Social Media
Big data and artificial intelligence can help travel agencies track what customers are saying about the company on social media platforms. This can help such organization go through the negative responses and improve the issue identified by customers. With the deployment of supervised learning and natural language recognition, data tools can trace the negatives from social media conversation and grab the opportunity to meddle into.
Fitting in the Hospitality Industry Pricing
Fluctuating price market is one constant change that affects the hospitality industry in various ways. Adapting to changing price market is termed as dynamic pricing. Machine learning technology can be used for dynamic pricing and enhance potential and effective profitability of such schemes.
Customer In-Stay Experience
The work doesn’t end with the booking process rather AI is capable of assisting post-booking activities as well. Virtual assistants can be utilized inside hotel rooms to control room lights, electronics or provide validation through facial recognition while check-in.