Volume data storage in Travel industry

What is volume data storage in travel industry?

Volume data storage is the area of storing a logical spectator that is a storage location with a single file system, which is resident on partition of hard disks in a computer and single accessible. Data storage is the way of storing statistical information by creating files and documents, storing and saving those digitally for future use (CDW, 2022). In the travel industry, volume data storage is important to get statistical information related to their revenue, growth, profit, market share, number of visitors, and others that help to improve future performance by reviewing previous years’ data. Data storage types are different to secure data such as Direct Attached of Storage and Network Attached of Storage; additionally, hybrid cloud storage as well as hybrid-flash arrays, software and appliances of backup, cloud storage, and SSD Flash Drive Arrays. The main benefits of using data storage are maintaining reliable data preservation, easier and quicker data recovery, data accessibility and continuity, flexible capacity options with price points, and effective security for protected files. These are fictive for travel industry as well to get old and new information of business by maintaining huge volume or big data storage.

Figure 1: Worldwide created, captured, consumed, and copied volume of data from 2010 to 2025

(Source: See, 2021)

The above figure identifies worldwide created, captured, consumed, and copied volume of data from 2010 to 2025. It proves that volume of data has been incredibly increased from 2010 to 2025 from 2 to 181 zettabytes, which is huge and proves higher growth of data (See, 2021). Based on that, in line with maintaining growth of data storage volume, installation with storage capacity has been forecasted for increasing and managing annual growth rate with 19.2% over upcoming period. The travel companies have maintained their annual report every year in where their volume data storage has been maintained that is useful for customers as well as their employees and managers to secure previous data to evaluate future performance. Data storage helps to maintain business intelligence by reviewing environmental and financial performance of organisations by using technological development (Llave, 2018). It helps to handle increases in data volume of any format by getting perceived benefits through reducing data storage effort to get quick access of data, better acquisition, and data preservation.

Figure 2: Importance of data analytics of customers to introduce success of worldwide travel companies

(Source: Lock, 2021)

The above-mentioned figure introduces importance of data analytics of customers to introduce success of worldwide hospitality and travel companies. Based on global travel and hospitality industry, most of employees and executives have agreed with maintaining importance of data analytics of customers by 50% to maintain business success by evaluating previous information and comparing data between old and new year's (Lock, 2021). The advantages of volume data storage such as backup data preservation, continuity, flexibility, security, accessibility, data recovery have helped travel industry to enable and move data across different sources to derive business outcomes quickly. Most of the companies have stored big data to analyse them in future days for investigating about financial performance and use of technologies by getting information about industrial sector (Raguseo, 2018). Technological advancement in storage has helped to determine risks for companies by storing data. Managers of travel industries need to recognize business risks and outcomes by analysing big data for handling huge risks such as privacy as well as security issues.

In the travel industry, volume data storage has sometimes faced a lack of data security by launching it in their websites as annual reports from which competitor companies have gotten financial information to compete with the concerned company. It has identified problems with the future performance of the concerned company by maintaining a competitive advantage by competitors through collecting its data from annual reports through using online platform or internet. Big data storage security needs to be improved by using blockchain access control that does not allow everyone to access data by providing paid versions (Uchibeke et al. 2018). Travel industries can use AI technology for becoming prevalent by maintaining a newer process of data storage to handle tasks such as setting custom recovery points and managing backup schedules for specific data sets. It helps to maintain future success in travel industry by creating future planning by evaluating recent performance.

Cloud storage process also helps to maintain volume data storage to secure information of companies by growing segment, which shows promise to become faster and efficient accessibility. In the travel industry, data storage and telecommunication are related to each other for maintaining cost of organisations based on considering a secure place to store data for safeguarding confidential information. Digital revolution has been managed in organisations by maintaining data storage to transferring data by using technological implementation (Shepherd et al. 2020). Volume data storage process needs to be secure and confidential to safeguard backup data of travel companies such as their previous income, profit, number of visitors, rate of hotels, restaurant bill, and other information by maintaining privacy, accessibility, place of store, volatility and security. It has the power to improve digital improvement of travel industry including hotels, travel agencies, tour guides, restaurants, and so on for increasing their future performance by creating targets.

Volume data storage represents a huge or big amount of data storing that helps to maintain data visualisation in near future to determine performance. In travel industries, volume data storage is important to get a better result in future by setting a target to income more money by attracting visitors and improving services. Data storage helps to use cloud for maintaining big data determination by using IoT devices to manage radio-frequency and sensor identification of readers (Cheng et al. 2018). More than millions of data is under volume data that needs to be stored to handle them in an effective manner without creating any vulnerability. Volume data storage is effective for travel industry; however, it is more frequent and essential for banks or service industry to secure their huge amount of data by maintaining cloud-based technology. Data needs to be transferred in organisations based on maintaining evaluation to introduce accuracy (Geyer-Klingeberg et al. 2018). Thus, it can be said that travel industry needs to work on volume data storage by using cloud-based technology to secure their confidential information from competitors to increased future performance.

Keywords:  #travel#data#privacy#performance#volume

References:

CDW., (2022). What is Data Storage_ - Data Storage Types & Methods _ CDW. Available at: https://www.cdw.com/content/cdw/en/articles/datacenter/what-is-data-storage.html [Accessed on: 17 February, 2022]

Cheng, B., Zhang, J., Hancke, G.P., Karnouskos, S. and Colombo, A.W., (2018). Industrial cyberphysical systems: Realizing cloud-based big data infrastructures. IEEE Industrial Electronics Magazine, 12(1), pp.25-35.

Geyer-Klingeberg, J., Nakladal, J., Baldauf, F. and Veit, F., (2018, July). Process Mining and Robotic Process Automation: A Perfect Match. In BPM (Dissertation/Demos/Industry) (pp. 124-131).

Llave, M.R., (2018). Data lakes in business intelligence: reporting from the trenches. Procedia computer science, 138, pp.516-524.

Lock, S., (2021). Importance of data analytics to travel companies worldwide 2020 _ Statista. Available at: https://www.statista.com/statistics/1249415/importance-of-data-analytics-to-travel-and-hospitality-companies-worldwide/ [Accessed on: 18 February, 2022]

Raguseo, E., (2018). Big data technologies: An empirical investigation on their adoption, benefits and risks for companies. International Journal of Information Management, 38(1), pp.187-195.

See, A., V., (2021). Total data volume worldwide 2010-2025 _ Statista. Available at: https://www.statista.com/statistics/871513/worldwide-data-created/ [Accessed on: 18 February, 2022]

Shepherd, M., Turner, J.A., Small, B. and Wheeler, D., (2020). Priorities for science to overcome hurdles thwarting the full promise of the ‘digital agriculture’revolution. Journal of the Science of Food and Agriculture, 100(14), pp.5083-5092.

Uchibeke, U.U., Schneider, K.A., Kassani, S.H. and Deters, R., (2018, July). Blockchain access control Ecosystem for Big Data security. In 2018 IEEE International Conference on Internet of Things (iThings) and IEEE Green Computing and Communications (GreenCom) and IEEE Cyber, Physical and Social Computing (CPSCom) and IEEE Smart Data (SmartData) (pp. 1373-1378). IEEE.

Author: Pooja Sankhe.