What is Big Data Analytics in Tourism?
Big data analytics in tourism is the information of travelers produced by themselves which helps in prescriptive, diagnostics, descriptives, and predictive data collection to be used in the tourism industry for any decision making. It improves the process in the tourism industry by analyzing the data of travelers to serve them better. It also helps in anticipating the requirement of the tourism industry accurately, setting the pricing strategies precisely, and improves the customer experience.
The market study is broken down by Type (Structured, Semi-Structured and Unstructured), by Application (Large Enterprises and Small-medium Enterprise) and major geographies with country level break-up.
Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IBM (United States), Microsoft Corporation (United States), Google, LLC (United States), Amazon.com, Inc., (United States), Oracle Corporation (United States), SAP SE (Germany), TIBCO Software Inc (United States), Mind Analytics (Spain) and Tableau Software (Salesforce) (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Big Data Analytics in Tourism market by Type, Application and Region.
On the basis of geography, the market of Big Data Analytics in Tourism has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Big Data Analytics, the sub-segment i.e. Prescriptive will boost the Big Data Analytics in Tourism market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Big Data Source, the sub-segment i.e. Social networking Sites will boost the Big Data Analytics in Tourism market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
On 13th February 2020, Mind Analytics, a Spanish start-up specializing in data analytics to optimize decision making in the tourism industry, has launched the first tool in the travel industry that combines AI, Machine Learning, and Big Data, designed to improve the conversion of hotel distribution wholesalers. The Travel Intelligence Engine (Travel/ie) solution captures, processes, and analyses data in real-time and uses that knowledge to improve distribution, detect errors and behavior patterns, in order to improve the distribution of available product inventory and adapt offers to your customers.
Market Trend
- Increasing Digitalization in the Big Data Analytics in Tourism Market
Market Drivers
- Demand for the Tourism Industry Worldwide
- Big Data Provide the Traveler Information Flows to Make Accurate Decisions in the Tourism Market
Opportunities
- Growing Spending on the Big Data Analytics in Tourism Infrastructure
- Revival Plan in the Tourism Industry will Accelerate the Big Data Analytics in Tourism Market
Restraints
- Problems with the Pandemic and Global Travel Restriction is Hampering the Big Data Analytics in Tourism Market
Challenges
- Risk of Data Storage, Analysis, and Information Privacy with Big Data Analytics in the Tourism Market
Key Target Audience
Big Data Analytics Solution Providers, Tourism Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.