Value-Knowledge Management in Travel Industry

 

                                                        VALUE- KNOWLEDGE MANAGEMENT

Knowledge Management

Develop an understanding of knowledge management, which is the process of creating, storing, utilizing, and sharing knowledge within an organization.

How is knowledge management defined?

The process of identifying, organizing, storing, and disseminating knowledge within an organization is referred to as knowledge management (KM). When knowledge is not readily available within an organization, it can be extremely costly to the business, as valuable time is spent seeking out pertinent information rather than completing task-oriented tasks.

A knowledge management system (KMS) collects and organizes an organization's collective knowledge, resulting in increased operational efficiency. These systems are backed up by a knowledge base. They are typically critical to successful knowledge management because they provide a centralized location for storing and easily accessing information.

Businesses that implement a knowledge management strategy achieve better business outcomes faster, as increased organizational learning and collaboration among team members enables faster decision-making across the organization. Additionally, it streamlines more organizational processes, such as training and onboarding, resulting in increased employee satisfaction and retention, according to reports.

Different types of knowledge

Additionally, the definition of knowledge management encompasses three distinct types of knowledge: tacit, implicit, and explicit. These two types of knowledge are largely distinguished by the degree to which the information has been codified.

• Tacit knowledge: Typically acquired through experience, this type of knowledge is intuitively understood. As a result, the information is difficult to articulate and codify, making it difficult to transfer to other individuals. Language, facial recognition, and leadership abilities are all examples of tacit knowledge.

• Implicit knowledge: While some academics conflate implicit and tacit knowledge, others distinguish the two, stating that the definition of tacit knowledge is more nuanced. While tacit knowledge is notoriously difficult to codify, implicit knowledge is not always so. Rather than that, implicit information has not been documented. It is frequently associated with processes and is sometimes referred to as "know-how" knowledge.

• Explicit knowledge: Explicit knowledge is contained in a variety of document types, including manuals, reports, and guides, and enables organizations to easily share knowledge across teams. This is perhaps the most well-known type of knowledge, and examples include databases, white papers, and case studies. This type of knowledge is critical for an organization's intellectual capital retention and for facilitating successful knowledge transfer to new employees.

 

 

Process of knowledge management

While some academics (PDF, 156 KB) (link is external to IBM) define knowledge management as the process of acquiring, creating, refining, storing, transferring, sharing, and utilizing knowledge. This process can be further synthesized. Typically, an effective knowledge management system consists of three major steps:

1. Knowledge Creation: Organizations use this step to identify and document any existing or new knowledge they wish to share across the organization.

2. Knowledge Storage: Typically, an information technology system is used to store and distribute organizational knowledge during this stage. The information may need to be formatted in a specific way to comply with the repository's requirements.

3. Knowledge Sharing: In this final stage, knowledge sharing processes are widely communicated throughout the organization. The rate of information dissemination varies according to organizational culture. Businesses that promote and reward this behavior will undoubtedly have a competitive edge over their competitors in their industry.

Instruments for knowledge management

Organizations utilize a variety of tools to reap the benefits of knowledge management. Several examples of knowledge management systems include the following:

• Document management systems serve as a repository for digital documents such as PDFs, images, and word processing files. These systems help employees work more efficiently by facilitating the retrieval of documents such as lessons learned.

• Content management systems (CMS) are web-based applications that enable end users to edit and publish web content. While these are frequently confused with document management systems, CMSs support additional media types such as audio and video.

• Intranets are private networks that exist solely within an organization and enable internal stakeholders to share enablement, tools, and processes. While they require time and money to maintain, they provide a variety of groupware services, such as internal directories and search, that facilitate collaboration.

• Due to their ease of use, wikis can be a popular knowledge management tool. They make it simple to upload and edit data, but this convenience may raise concerns about misinformation, as workers may update them with incorrect or outdated data.

• Data warehouses consolidate data from multiple sources into a centralized, consistent data store that enables data analysis, data mining, artificial intelligence (AI), and machine learning. Companies extract data from these repositories in order to gain insights and empower employees to make data-driven decisions.

 

 

Accelerating knowledge management strategie

While knowledge management solutions can aid in the transfer of knowledge between teams and individuals, they also rely on user adoption to be effective. As a result, organizations should not undervalue the human factors that contribute to knowledge management success.

• Organizational Culture: The management practices of executives will influence the type of organization they lead. Managers can foster learning organizations by rewarding and encouraging their teams' knowledge sharing behaviors. This style of leadership lays the groundwork for teams to develop mutual trust and communicate more openly in order to accomplish business objectives.

• Communities of practice: Centers of excellence in particular fields provide a forum for employees to ask questions, thereby facilitating learning and knowledge transfer. By increasing the number of subject matter experts in a given area of the business, organizations can reduce their reliance on specific individuals to perform certain tasks.

Case studies in knowledge management

When combined with the appropriate tools and strategies, knowledge management practices have demonstrated success in a variety of applications, including the following:

• Employee onboarding: Knowledge management systems assist in addressing the enormous learning curve associated with new hires. Rather than overwhelming new hires with a 'data dump' during their first weeks, provide them with continuous support in the form of knowledge tools that provide useful information at any time.

• Day-to-day employee tasks: Provide accurate answers and critical information to every employee. Access to highly relevant responses at the appropriate time and for the appropriate person enables workforces to spend less time searching for information and more time on business-critical activities.

• Self-serve customer service: Customers repeatedly express a preference for self-service rather than picking up the phone and contacting support. When implemented properly, a knowledge management system can assist businesses in lowering support costs and increasing customer satisfaction.

Several advantages of knowledge management

When businesses adopt knowledge management strategies, they reap a slew of benefits. Several significant advantages include the following:

• Identifying skill gaps: When teams document implicit or tacit knowledge or consolidate explicit knowledge, they can identify gaps in core competencies across teams. This information is invaluable to management in terms of forming new organizational structures or hiring additional resources.

• Make more informed decisions: Knowledge management systems provide knowledge to individuals and departments. By increasing team members' access to current and historical enterprise knowledge, you can help them improve their skills and make more data-driven decisions that support business goals.

• Preserves enterprise knowledge: What would your business do if your most knowledgeable employees left tomorrow? Internal knowledge management enables businesses to establish a collective memory. Make knowledge held by long-term employees and other experts accessible to the rest of your team.

• Increased operational efficiency: Knowledge management systems establish a central repository for relevant information, enabling knowledge workers to locate it more quickly. This results in decreased time spent on research, which results in faster decision-making and cost savings through operational efficiencies. Increased productivity saves not only time, but also money.

• Improved collaboration and communication: Knowledge management systems and organizational cultures work in tandem to foster teamwork and trust. These information systems increase worker transparency, fostering greater understanding and cooperation around common goals. Engaged leadership and open communication foster an environment conducive to innovation and feedback among teams.

• Data Security: Knowledge management systems enable organizations to tailor permission controls, viewership controls, and the level of document security to ensure that information is shared only through the appropriate channels or with authorized individuals. Give your employees the freedom to access knowledge in a secure and confident manner.

Why Information Management Is Critical in the Travel Industry

Customer experience is the bedrock of the multibillion-dollar hospitality industry, which encompasses hotels, resorts, travel, tourism, food and beverage, and attractions, among others. When guests have a positive experience, they are more likely to return. Which typically means they'll spend more money at your establishment, purchase your more expensive products, and recommend you to their friends and family. To create that level of experience, each member of your team must provide superior, knowledgeable, and personalized service to each guest.

Effective knowledge management in the hospitality industry enables employees to go above and beyond for guests, providing the service and experience they expect—and providing your establishment with a competitive edge.

Discover the various types and benefits of knowledge management in the hospitality industry in the sections below.

What Is Knowledge Management and How Is It Important?

A knowledge management solution is a software application that enables your organization to store and organize its employees' collective knowledge. This enables you to retain employees' knowledge even if they leave the company. Additionally, it establishes a centralized repository of knowledge from which employees can obtain information about company policies, procedures, best practices, and other job-related topics.

 

 

In the service industry (which includes hospitality), knowledge management's role is to ensure that employees have easy access to up-to-date, specialized knowledge. This is especially critical in the hospitality industry, as the success of an establishment is contingent upon providing an exceptional guest experience. If employees are slow to provide accurate information or solutions, the customer may be less likely to return—and may even express their dissatisfaction online.

With a strong knowledge management framework in place, you can empower your staff to provide prompt, accurate responses to guests' questions and concerns. Additionally, you can gain insight into customer data and trends in order to make data-driven organizational decisions that will give your establishment a competitive edge in a highly competitive environment.

Travel Industry Knowledge Categories

Understanding the various types of knowledge available can assist you in determining the most effective knowledge management strategy for your organization. Generally, hospitality industry knowledge is divided into the following categories:

Task-specific knowledge: This category includes all knowledge necessary to complete a specific task, such as specific procedures, actions, or strategies. For instance, a staff member applies task-specific knowledge when performing the steps necessary to check a guest in, make a reservation, or answer the phone with a standardized greeting. This information is typically included in training materials such as videos or handbooks.

Tacit knowledge is less regimented. Rather than that, it is acquired knowledge through personal experience and is frequently difficult to articulate. This could include knowing the appropriate phrases and demeanors to use when de-escalating a frustrated guest. While you may have a documented protocol for dealing with this type of situation, it is typically only through experience that staff members are able to expertly navigate these difficult interactions.

Customer knowledge: Thanks to advances in technology, hotels and other hospitality-related businesses now have unprecedented access to customer data. Customer-related data may include historical data (such as frequency and duration of stays), demographic data (such as socioeconomic status, age, occupation, and so on), and even preferences and behaviors.

Along with customer data, your business can amass knowledge about others in your network, such as competitors, vendors, and partners.

Market-related knowledge is a subset of network-related knowledge. Armed with market knowledge, organizations can gain a better understanding of the market in which they operate—including its size, population, culture, and habits. This information can be used to guide decisions about the products, services, and experiences to offer.

The Travel Industry's Benefits of Knowledge Management

Each type of knowledge in the hospitality industry has the potential to benefit both the business and its customers. To reap the full benefits of that knowledge, organizations must have a system in place that enables employees to access, document, share, and leverage it effectively. Your organization can realize the following benefits through effective knowledge management in the hospitality industry:

Outstanding customer service

Staff members and customer service representatives must be able to quickly access guest information, policies, procedures, and best practices in order to provide superior service to guests. A knowledge management platform enables all staff to locate the information they require to assist guests quickly. The most efficient knowledge sharing solutions incorporate advanced search capabilities, making it even easier to locate the appropriate information at the appropriate time.

Knowledge that is consistent, up-to-date, and accessible across the organizationWithout a knowledge management system, employees may seek information via the company intranet, email archives, or simply word of mouth. Frequently, they end up using out-of-date information to address guests' questions or concerns, resulting in customer frustration or dissatisfaction. With a modern knowledge management system, your employees will always know where to find information—and will have the confidence that the information they find is accurate and current.

Organizational decisions that are more informed

Organizational leaders gain access to a centralized repository of customer insights through knowledge management systems. They can then make more informed decisions about how to enhance the customer experience. For instance, you may determine that your customer base values certain amenities, and in order to remain competitive, you may decide to increase your availability of those services.

New perspectives on existing opportunities

With a centralized source of market research, organizational leaders can quickly identify new challenges and opportunities in the broader market, enabling them to be more innovative in their future plans. These insights may reveal opportunities for expansion into new locations or collaboration with other local organizations, for example. With this knowledge, you can strengthen your business and fuel future growth.

To succeed in the competitive hospitality industry, you must arm your staff and leadership with accurate, up-to-date company information and market insights. By implementing a knowledge management platform, you can provide a centralized source of reliable information and empower your employees to deliver an exceptional customer experience.

 

References

1)IBM Cloud Education(2020)’Knowledge Management’.Avaliable at:

https://www.ibm.com/cloud/learn/knowledge-management (Accessed:23 March 2022)

2)Fiorini,V.(2022)’ Why Knowledge Management Matters in the Hospitality Industry’.Avaliable at:

https://bloomfire.com/blog/knowledge-management-in-hospitality-industry/

 (Accessed:22 March 2022)      

Anil(10598717)

KeyWords:#travel#budget#revolution#social#socialmedia#Data#Industry#BigData#World#Marketing#Extension#Hotel#Tourism#Management#Knowledge

Big Data in Travel Industry

 

BIG DATA ON TRAVEL & TOURISM

Introduction

The rapid development of technology resulted in the emergence of the technology bundle, Industry 4.0. This technology bundle tends to result in a strong influence on varieties of industrial sectors including Travel & Tourism. Amongst the multiple technologies clustered under Industry 4.0, the application of Big Data is increasingly gaining acceptance within the Travel & Tourism industry. The Travel & Tourism industry is further benefitted by this Big Data Analysis in terms of the associated industries such as the Hospitality Sector using this technique for their respective business growth.    

Collection of Big Data

The application of Big Data in the tourism industry relates to systemically Extracting, Processing and Visualizing relevant data sets for the organized business management of the industry (Centobelli and Ndou, 2019).     

Big Data in Travel & Tourism

The range of data collected from the industry for its efficient processing includes Destination Information, Travel & Hospitality News, Hotel & Restaurant Details, Social Data, Transportation Data, Event Details, Tourist Data and Government Schemes.

Destination Information:     Place of Visit, Rules & Regulation

Travel & Hospitality News: Latest developments of the industry, Major investments for development, start of new tourist spots.

Hotels & Restaurant Details:  Pricing,  Room Tariffs, Customer Reviews & Ratings, Service Details.

Social Data:    Social media Posts, Geo tags, Brand Tags, travel-oriented Hashtags.

Transportation Data:  Air Tickets, Train Tickets, Bus Tickets,  Route Maps, Traffic Data.

Event Details:  Local Festivals,  Global Events, Sports Events Summits.

Tourist Data:  Tourist Inflow Details, Tourist Outflow Details,  Place of Origin, Local Language.

Government Schemes:  Tourist-friendly packages, designed by local Government.

The usual size of Big Data is several Terabytes and Petabytes depending on the range of data collected. Considering the size of the data, the collection of Big Data from the tourism industry poses to be a challenge for Data Scientists. In this regard, extracting data can be progressed using techniques such as Web Scraping and Internal & External Resources (Mazanec, 2020). The concept of Web Scraping relates to the efficient formulation of a script for the extraction of data from travel & tourism focussed websites. On the other side, the aspect of internal research relates to an in-house collection of data from reservation management software and accounts & services book. Furthermore, the external research for data collection includes seeking the contribution of tourism boards and third-party data providers.                   

Implication of Big Data Analysis

The foremost application of results generated by the analysis of Big Data from the Travel & Tourism industry relates to concerning market research. The aspect of market research plays a vital role in the growth and development of the industry. In this regard, the prolonged analysis of Big Data, collected from reliable sources results in the identification of potential areas, requiring the attention of industry leaders for development (Li et al. 2020). As for an instance, the analysis of customer-oriented data reveals the dynamic purchasing behaviour of the customers in the Travel & Tourism Industry. Contextually, the potential market leaders can improve their customer attention attraction strategies by adding Lucrative Discounts, Surprise Gifts and Combo Offers. Furthermore, the range of information, revealed by the Big Data Analysis can fuel the uninterrupted progress of the tourism research for a prolonged duration.

Big Data in Tourism Research  (Source: Li et al. 2018)

The dedicated contribution of the hospitality sector plays a vital role in the growth and development benefit of this Travel & Tourism industry. In this regard, the concerned market leaders can deploy suitable techniques for the analysis of the collected data to reveal extensive customer-oriented information (Ardito et al. 2019). Such information aids the reputed hospitality organizations to improve their overall service by availing suitable amenities to the visitors and tourists, during their stay.

The application of Big Data in the Travel & Tourism Industry results in the overall improvement of the industry. This is evident as the travel, as well as transportation companies across the world, tend to utilize the relevant Data Analytics method for analysing purchasing behaviour of the travel enthusiast as well as the explorers (Xia et al. 2021). Furthermore, the detailed analysis of such data can reveal the overall travel behaviour of specific demographics. The effective utilization of these findings can encourage the concerned companies to introduce lucrative offers for the benefit of the target demographics. This is mutually beneficial for travel enthusiasts as well as the concerned market leaders of the travel & tourism industry.

The rapid development of technology resulted in the emergence of an innovative trend. This trend relates to electronic Word-of-Mouth (eWoM), which catalyses the consistent growth and development of the travel & tourism sector (Ahmad et al. 2019). This growth and development are further supported by the aspect of Big Data Analysis. This is because, Big Data Analysis tends to encourage market leaders of the Travel & Tourism industry to analyse eWoM related to various products and services, offered by the Travel & Tourism Industry to its customers. This process of Big Data Analysis is      progressed by Web Scraping and social media listening (Welch and Widita, 2019). The wide acceptance of Big Data Analysis within the Travel & Tourism industry is enhanced by the dedicated contribution of reputed firms such as Datahut. The sole objective of such companies relates to the presentation of scraped information from multiple platforms in the form of a structured dataset for the growth benefit of enterprise-grade data extraction platforms. 

Conclusion

The deployment of Big Data Analysis in the Travel & Tourism Industry is a cost-effective procedure in terms of applying suitable strategies and human intellect to the possible extent. The outcome generated from such procedures can result in market benefit for reputed companies of the industry. The engagement of the suitable tactics for supporting Big Data Analysis in the Travel & Tourism industry results in uninterrupted growth and development of the industry for a prolonged duration. The leading companies of the Travel & Tourism industry manage to collaborate with reputed companies, offering the service of Big Data Analysis and thereby improving their position in the market for a prolonged duration.         

References

Journals

Ahmad, H., Hamad, A.G., Raed, H. and Maram, A.H., 2019. The impact of electronic word of mouth on intention to travel. International Journal of Scientific and Technology Research, 8(12), pp.1356-1362.

Ardito, L., Cerchione, R., Del Vecchio, P. and Raguseo, E., 2019. Big data in smart tourism: challenges, issues and opportunities. Current Issues in Tourism, 22(15), pp.1805-1809.

Centobelli, P. and Ndou, V., 2019. Managing customer knowledge through the use of big data analytics in tourism research. Current Issues in Tourism, 22(15), pp.1862-1882.

Li, H., Hu, M. and Li, G., 2020. Forecasting tourism demand with multisource big data. Annals of Tourism Research, 83, p.102912.

Li, J., Xu, L., Tang, L., Wang, S. and Li, L., 2018. Big data in tourism research: A literature review. Tourism Management, 68, pp.301-323.

Mazanec, J.A., 2020. Hidden theorizing in big data analytics: With a reference to tourism design research. Annals of Tourism Research, 83, p.102931.

Welch, T.F. and Widita, A., 2019. Big data in public transportation: a review of sources and methods. Transport reviews, 39(6), pp.795-818.

Xia, D., Jiang, S., Yang, N., Hu, Y., Li, Y., Li, H. and Wang, L., 2021. Discovering spatiotemporal characteristics of passenger travel with mobile trajectory big data. Physica A: Statistical Mechanics and its Applications, 578, p.126056.  

Author: Komal

Keywords:  # Big data#Travel#tour/#

Data Processing in Travel Industry

 

What is the data processing?

Data processing begins with statistics in its raw shape and converts it right into a extra readable format (graphs, documents, etc.), giving it the shape and context vital to be interpreted with the aid of using computer systems and used by personnel at some stage in an organization.

                                                               (data processing concept)

Importance of Data process in travel industry

The modern tour and travel industry has been developing by each passing days. Present travel companies are specialists in applying bookings information to generate products, competitive tools along with targeted raises. That requires the data process in a massive way. The huge amount of data gathered while the bookings procedure allows the industries to generate ultra-personalised emails for the clients. Big data is also used in this section as it helps to produces more evidence-driven choices for the customers along with the clients. Data processing helps to developed approvals on travel services as well as the purchase of an select package by helping to understand the client's behaviour for the brand. To succeed as an investor or business owner, you need to understand how data processing is a great help to the tour and travel industry. The data processing also applied to gain a large number of revenue management approaches. It certificates employees to anticipate levels of demand for lodgings. It also applied forecast demand along with upcoming trends, that are vital for performing revenue running strategies positively (Korže, 2019).

Key data uses in travel industry

There are several kinds of information that requires to be collected to provide an effective travel service.

Buying habits: It is essential to identify the major factors that the travellers purchase. It is equally important to provide information on every online and offline travel deal that conducted.

Itineraries: Travellers always have a list of their favourite places that they love to visit. That requires to includes as the data.

Customer response and submission: It is one of the most effective information that needs to be gather. This information is gathered by asking the client for their feedback. That will help to gather experience on the services, and knowledges about the places they go to.

Customer budget: It is very significant to know the usual expenditure budget of the client to adjust the cost positively to suit the budget by providing them the finest experience.

These are some of the key data that applies to improve the business experience of travel industry.

Major risks of acquiring information

Incomplete along with fragmented information: It is one of the most effective issues that faced by the modern travel industry. The tour and travel industry function self-sufficiently that includes a large number of causes information in each subdivision to be unfinished and data for the entire business to be extremely fragmented. That puts a complete negative and bad impact on the travel industry.

The right team: Providing the efficient and accurate team is the most important blockade in gaining information. Putting composed the right team along with the team acknowledging that information to gather from travellers. As per The State of Data in Travel Survey that occurred 2017, 29.7% of the recognized issue is discovery that lack of skilled persons is a biggest challenge for the travelling industry.

Inaccurate Data: According to The State of Data in Travel Survey that occurred 2017, data quality along with cleanliness reported for 45.7% of issues recognized in obtaining information. It is significant to know that individuals sometimes do not generate decisions rationally.

Methods to collect information

There are several methods that helps to collect data.

Surveys: The travel industry can arrange surveys through online, via email, over the phone, or by the filling of questionnaires to gather relevant information.

Collecting email: The data of email is overwhelming. Over 74 trillion emails are directed every year. 2017 presented 1.8 million more emails sent associated to 2016. It is valued that the number of lively emails internationally is 5.59bllion.

Engaging on social media: social media provide of millions of applicants every day and this platform can’t be denied. Facebook have 2.19 billion users and Instagram 800 million users. That helps to gather the essential information for tours and travel choices of the customers.

Phone number: This can be smoothly labelled as the informal to get from the client. The travel companies get this data by asking the potential customer. Individuals give their phone numbers more easily. That helps to gather all of the potential information that the companies needed (Maemunah, 2020).

Data Insights that benefit the Travel Industry

Travelling has been an everyday action for modern people, as the travelling has become very easy.so, it is quite obvious that the travel industry grows equally. Data insight puts a direct impact on the entire business process by enhancing travel process. The modern Travel companies can identify propensities in the personal favorites of the customers, that focused upon valuable data insights. The companies gain the business chance to modify their services to the personalized requirements and wishes of the travellers. Furthermore, the services can be modified as per the precise phase in the client journey, that has the possibility to change the customers into loyal clients and retain the gratification (Bulgakov, 2018).

References

Bulgakov, A.L., 2018, June. Big data and travel industry. In Financial and Economic Tools Used in the World Hospitality Industry (pp. 265-270). CRC Press. https://books.google.com/books?hl=en&lr=&id=6y1iDwAAQBAJ&oi=fnd&pg=PA265&dq=data+processing+in+travel+industry+&ots=FARmMC5jsJ&sig=qV5audmupHGGh_BuTuSQ9ftj8fo

Korže, S.Z., 2019. From Industry 4.0 to Tourism 4.0. Innovative issues and approaches in social sciences, 12(3), pp.29-52. https://pdfs.semanticscholar.org/e06f/97c91de33529ccce4a4a07344e647e7b0e80.pdf#page=29

Maemunah, S., 2020. Create a Customer Loyalty in The Travel Sector. Business and Entrepreneurial Review, 20(2), pp.141-152. https://pdfs.semanticscholar.org/9586/59635d07d79efe90026daa01cfad815200cd.pdf

 Author: Komal

Key words

#Data insight#travelling#Customers#Travel Industry#Data#Information#Social media#Big data# Travel#change#Places#

How is your relationship with Artificial Intelligence?

 

What does it mean AI (Artificial Intelligence)?

 Artificial intelligence (AI) is a new technology that attempts to imitate human thinking in AI systems. In 1950, John McCarthy coined the phrase "Artificial Intelligence." It is the science and engineering of making intelligent machines, especially intelligent computer programs. It is related to the similar task of using computers to understand human intelligence, but AI does not have to confine itself to methods that are biologically observable.

AI is quietly diminishing human-to-human interactions and rapidly transforming the world into a self-driving car. Advances in mass manufacturing and supply chain administration are aimed at gratifying every customer since their satisfaction provides various reasons why a specific sector should lead and dominate the international market.

The capacity of a software program to learn and the reason is referred to as artificial intelligence. Everything that includes software accomplishing something that we would ordinarily imagine would require the intelligence of a person is termed artificial intelligence.

Does your company follow the new technology of Artificial Intelligence?

In today’s world, technology is quite developed. Most the businesses are getting benefit from it. Consumers can interact with AI throughout the day, from Fitbit’s fitness tracker and Alibaba’s Tmall Genie smart speaker to Google Photo’s editing suggestions and Spotify’s music playlists. (Puntoni et al., 2022, p. 131). Internet of Things, Robotics, and Virtual Reality are some examples of this technology. Artificial Intelligence is the most popular and effective one that implements almost all area.

 

What are the Benefits of AI?

This amazing technology offers many services including content creation, chatbots, and search engines, which have particularly ramped up since the start of the COVID-19 pandemic. (Dave, 2021)

The benefits of artificial intelligence applications are vast, and they have the potential to change any professional field. Let's have a look at some of them.

1) Human Error Reduction:

Computers, on the other hand, do not make these errors if they are correctly programmed. Artificial intelligence makes choices based on previously obtained data using a certain set of algorithms. As a result, mistakes are decreased, and the prospect of achieving better accuracy with greater precision exists. For example, in weather forecasting, AI has decreased the bulk of human mistake.

2)Humans are not the only ones who take risks:

This is one of the most significant benefits of artificial intelligence. We can solve many of humanity's risky restrictions by constructing an AI robot that can perform the risky activities for us. Intelligence Robots can be utilized in circumstances when human interaction is risky.

3)Available 7x24 :

A typical human will labor for 4–6 hours each day, without breaks. Humans are designed in such a manner that they may take some time off to renew themselves and prepare for a new day of work, and they even have week offfed to keep up with their job and personal life. However, utilizing AI, we can have robots operate 24 hours a day, seven days a week, and they never grow bored, unlike humans.

4) Digital Assistance:

Some of the most modern firms connect with users via digital assistants, which reduces this need human personnel. Many websites also utilize digital assistants to help consumers with what they desire. We can discuss what we're searching for with them. Some chatbots are created in such a manner that it is difficult to tell if we are conversing with a chatbot or a real being.

 5) Decide Faster:

Using AI in conjunction with other technologies, we can make computers make judgments and carry out activities faster than humans. When making a choice, humans consider numerous things, both emotionally and practically, but an Automation machine works on how much is taught to do and produces results faster.

6) New Creation:

AI is powering several inventions in nearly every discipline, which will assist humans in solving the bulk of complicated issues.

7) Assisting with Repetitive Tasks:

We can use artificial intelligence to efficiently automate these routine processes and even remove "boring" work for people, freeing them up to be more creative.

Figure 1:Conversational Marketing with computer and consumers.

                                                                    Source: Dave

How AI helps the Travel Industry?

AI Assistants For Travel Booking

AI assistants and smart chatbots have largely replaced travel agents, allowing passengers to book flights, hotels, and car rentals online. Some big travel reservation companies implemented this technology into their businesses such as booking.com. 

Typically, you will be asked to begin a discussion with a chatbot by providing facts about your desired route. The bot will then search across the booking sites to get the best bargain for you. When you enter your travel date, the chatbot will display the cheapest ticket to your location.

Face-to-Face Customer Service Robots

Robots are progressively invading the travel industry's customer service, obviating the necessity for human representatives. Gone are the days when you had to stand in line for info or try to find your flight in a crowded terminal. The reason for this is because certain well-known airports and hotels have now hired robots to assist you in such circumstances.

Intelligent Baggage Handling

Every year, airports handle millions of luggage. In the future, airports will be totally automated using robots and AI, and misplaced luggage would be handled intelligently. AI technologies have already been introduced in certain airports as experimental projects.

Voice Assistants and Robots

As a result of the Covid-19 epidemic, specialists are searching for more advanced contactless methods for check-in and checkout operations, as well as supporting travelers with general concerns. As a result, in the post-pandemic age, self-service may become the norm. Voice assistants are already widely utilized in hotel rooms, cruises, and airport security. With the current state of affairs, the sector can anticipate the emergence of both robots as well as voice assistants.

References

1.  Puntoni, S., Reczek, R.W., Giesler, M.&Botti, S. (2021) “Consumers and Artificial Intelligence: An Experiential Perspective”, Journal of Marketing, 85(1), pp. 131-151. Business Sources Complete, Accessed:8 March 2022)
2. Dave, N (2021)”38 Digital Marketing Trends You Can’t Ignore in 2022” , Single Grain. Available at : https://www.singlegrain.com/digital-marketing/digital-marketing-trends-2022/ (Accessed:06 March 2022) 
3. Kumar,S (2019)"Advantages and Disadvantages of Artificial Intelligence" Available at: https://towardsdatascience.com/advantages-and-disadvantages-of-artificial-intelligence-182a5ef6588c (Accessed:07 March 2022)

L  Keywords:

#a#artificialintelligence #technology #travelindustry #digitalmarketing #AI

Author: Ece Kubra Basci

Data Visualization in travel industry

 What is Data Visualization?

Data visualization is a graphical representation of data and information by using visual elements such as maps, graphs, and charts. In the travel industry, data visualisation represents data related to get information about recent COVID-19 pandemic impact on the industry by identifying tourist arrivals, travel restrictions, massive loss, and so on. Travel and tourism industry has maintained big data by managing national and international business with involvement on different flights from different countries. In that case, data visualisation is needed to manage information and keep record of data to visually represents the situation for which flight can be cancelled and can be start based on recovery of pandemic COVID-19. Data visualization tools help to maintain an accessible way of understanding, seeing, and reviewing patterns, trends, and outliers in data that improve financial improvement in travel industry by reviewing number of customers’ attractions. It helps to analyse massive information and big data to make decisions by calculating those through using technologies and tools (Tableau, 2022). The main importance of data visualisation is to make it easier of identifying patterns, trends and outliers of large data sets by using human brain. The main examples of data visualisation are charts, graphs, tables, maps, dashboards, and infographics. Another data visualization process is Gantt chart, histogram, bar chart, matrix, scatter plot, network, radial tree, area chart, dot distribution map, timeline, tree-map, word cloud, text tables, streamgraph, and so on. Industrial big data has been analysed by using data visualisation to make decisions about business conditions by maintaining creative storytelling. Data visualisation helps organisations to identify key performance indicators (KPIs) and information.

Figure 1: Worldwide data visualization market value in 2017 and 2023

(Source: Statista,2019)

The aforementioned figure indicates market revenue of global data visualisation in 2023 and 2017 that impacts market value. In 2017, worldwide data visualisation market value is 4.51 billion US dollars and in 2023, it can reach up to an estimated 7.76 billion US dollars with a CAGR of 9.47% over the forecast period (Statista, 2019). Travel industry has improved their business position by visualising data because it helps them to predict future performance by maintaining huge information securely. Based on that data analytics team needs to be hired for maintaining this process to visualise their statistical information. It has proved that many industries have introduced data visualization in their business to maintain financial performance evaluation by using charts, graphs, tables, and maps. For example, IBM has launched data visualisation tools to integrate cognitive computing technology by including use of machine learning and artificial intelligence (AI), which make it an easier process to visualise real-time and trusted data (IBM, 2022). The main benefits of data visualization are related to calculating accurate big data visualisation by avoiding IT involvement and specialist visualisation. IBM has launched IBM Cognos Analytics to maintain data visualisation by using analytics software and AI-fuelled business intelligence technology to help users to search for data insights. Data visualisation also helps to attract travellers by providing them visualise data through publishing their annual report and advertisements by offering discounts and offers while visualise data represents lack of financial improvement.

(Source: Customer experience)

Data visualisation helps to analyse data by gaining actionable insights to improve decision-making business intelligence. It has many important benefits in maintaining industrial financial data evaluation through making a record of their improvement. Visualised data or content helps to analyse data transmission by evaluating use of human brains to get a faster understanding power to make sense. This is a faster process by which people brain easily recognise business operations with neural networks to predict data through visualising information (Sales force, 2022). Human mind is not able to analyse complex statistical models to evaluate data for which data visualisation process by which hierarchy of an organisation quickly grasps the pulse of concerned organisation. Big data and data visualisation can benefit the travel industry in different ways by allowing them to enhance evidence-driven decisions. These can be improved the ability to anticipate future demand of the industry in an accurate way to improve customer experience, target marketing precisely, and optimise pricing strategies.

Data visualisation help people by giving actionable items to make an evaluation of organisational performance, and its accuracy such as high or low. Lack of economic stability of organisation has been analysed by using data visualisation that forces the organisation to enhance their economic stability by improving future performance through increasing staff engagement, technological advancement, and strategical implementations. Data visualisation helps to evaluate big data of companies by illustrating case scenarios of companies (Venkatraman and Venkatraman, 2019). Big Data journey helps an organization to enable their scalable infrastructure for achieving organisational mission by managing critical decision-making through using data visualisation. It helps to track changes in number of visitors in the travel industry by providing a breakdown of tourists as well as ranks destinations to identify nationality of foreign tourists by giving demographic profile information of domestic tourists such as gender, age, and country. Data visualisation helps to bring trust in organisations by managing real-time information based on economic performances such as revenue, growth, market share, profit, sales, production, and so on.

Actionable items have the ability to provide a result of organisations by identifying areas for improvement and success. Data visualisation also help to increase productivity and sales by evaluating results of financial performances. It has the power to influence high-resolution by evaluating data based on getting information from presentations (Semple et al. 2019). Data visualisation produces provide real results by saving time in creating up-to-date reports with greater efficiency company-wide. It also emphasises financial performance of organisations by identifying its lack of improvement that affects its employees and staff to enhance more effort to stabilise economic stability by avoiding uncertainties. Stakeholders of travel industry maintain their data visualisation to evaluate performance level and whether it can be improved or not to maintain economic growth for the industry as well as the country.

 Data visualisation is the interactive computing task that overwhelmingly performed improvement by using flat screens (Liu et al. 202). It has some challenges based on maintaining huge investments to get better results by identifying design problems to represent data. In case an organisation embraces data visualisation to see rewards, their bottom-line improvement has been identified and most of the companies are planning to invest more in data visualisation due to their leading revenue growth.

In the travel industry, data visualisation helps to evaluate environment by maintaining rapid advancements of technologies such as AR and VR in organisations to enhance their performance and improve exciting possibilities. These technologies have enhanced customer attraction by providing 360-degree video and photography of hotel or travel information. Travel industry uses data visualisation for representing their performance that depends on evaluating chart, graphs, and tables related to revenue, growth, number of customers, and others. For example, FIESTA has been designed to allow users for creating, manipulate and share data visualisation while freely moving in a co-located VR environment physically (Lee et al. 2020). Data visualisation is the intelligent analysis process that helps teachers to assist study in educational institutions by using exploratory learning to teach students in a better way by evaluating their performances. It has helped to improve using of computer-based knowledge by stimulating performances through analysing data interaction (Mavrikis et al. 2019). Data visualisation is not only helpful for industrial improvement, as well as educational institutions to analyse data and information. Thus, it can be said that travel industry has improved economic growth by using data visualisation that helps to influence organisational staff involvement for identifying financial results and lack of economic stability to enhance engagement of employees to get better improvement.

Reference List

IBM., (2022). Data Visualization Tools & Solutions _ IBM. Available at: https://www.ibm.com/analytics/data-visualization [Accessed on: 16 February, 2022]

Lee, B., Hu, X., Cordeil, M., Prouzeau, A., Jenny, B. and Dwyer, T., (2020). Shared surfaces and spaces: Collaborative data visualisation in a co-located immersive environment. IEEE Transactions on Visualization and Computer Graphics, 27(2), pp.1171-1181.

Liu, J., Prouzeau, A., Ens, B. and Dwyer, T., (2020), March. Design and evaluation of interactive small multiples data visualisation in immersive spaces. In 2020 IEEE Conference on Virtual Reality and 3D User Interfaces (VR) (pp. 588-597). IEEE.

Mavrikis, M., Geraniou, E., Gutierrez Santos, S. and Poulovassilis, A., (2019). Intelligent analysis and data visualisation for teacher assistance tools: The case of exploratory learning. British Journal of Educational Technology, 50(6), pp.2920-2942.

Sales force., (2022). Top 5 data visualisation advantages – Salesforce. Available at: https://www.salesforce.com/ap/resources/articles/data-visualization-advantages/ [Accessed on: 15 February, 2022]

Semple, T.L., Peakall, R. and Tatarnic, N.J., (2019). A comprehensive and user‐friendly framework for 3D‐data visualisation in invertebrates and other organisms. Journal of morphology, 280(2), pp.223-231.

Statista., (2019). Global data visualization market size 2017 and 2023 _ Statista. Available at: https://www.statista.com/statistics/1003906/worldwide-data-visualization-market-value/ [Accessed on: 14 February, 2022]

Tableau., (2022). What Is Data Visualization_ Definition & Examples _ Tableau. Available at: https://www.tableau.com/learn/articles/data-visualization#:~:text=Data%20visualization%20is%20the%20graphical,outliers%2C%20and%20patterns%20in%20data. [Accessed on: 17 February, 2022]

Venkatraman, R. and Venkatraman, S., (2019, August). Big data infrastructure, data visualisation and challenges. In Proceedings of the 3rd International Conference on Big Data and Internet of Things (pp. 13-17).

Author: Pooja Sudhakar Sankhe

Keywords: #Travel #Data Visualization #travel industry #visualisation#Data#COVID-19