What does Big Data mean for B2B businesses?
Posted by Vero
These days many refer to it as “the new digital oil” and not without reason. More than half of B2B companies in Europe are already contemplating powerful investments in what is known as Big Data, and they expect data analysis to be a key factor for the future of their businesses.
In the tourism sector, in particular, we live in an era where over information can be a problem, where excess data blocks us and creates a wall that prevents us from seeing beyond the immediate. The coveted and sought-after data we receive is of little use on its own unless we have specifically designed tools at hand to analyze them and extract valuable information that allows our business to grow.
The big dream of Big Data is just that: converting all the scattered information into strategies that will actually help improve sales. In order to do so, we need more and more tools for Business Intelligence, tools that take care of reading the data and extract so-called ‘business signals’ from it.
Insights-X: Business Intelligence for tourism
What do tourists want at this point in time? How do they buy their trips? When do they decide? What are other hotel chains doing? What destinations are on the rise? Designed to find these ‘business signals’ on different tourist markets, Insights-X is a new Business Intelligence tool created by TravelgateX for the tourism sector. A solution capable of analysing large amounts of information in an accurate manner and translating it into indicators that work as a foundation for solid business strategies, with clear objectives.
“We all have to understand the value of our data and the impact it might have on business and our company strategies”, this is why TravelgateX has designed InsightsX. We want to provide our customers with a solution that lets them “know how the market works, understand the demand and decide on the right price”.
In order to fully customise the analysis tool, Insights-X offers 3 different solutions, adapted to every kind of customer:
- Industry Partner >> the ideal solution to gain a perfect understanding of the tourist market. Insights-X analyses the tandem of supply and demand on different markets, comparing it with historical data and trends. Based on this it defines what actions should be taken with a view to the future.
- Hotelier >> specifically designed to meet the information needs of hotel chains. Offers information on own hotels, performance comparisons with the rest of the competition in the environment and trends regarding demand as well as occupancy, and opportunities to increase the number of reservations.
- Platform Partner >> our special solution for everyone who uses the TravelgateX platform. Offers data specifically oriented at our clients optimising their performance and getting more out of their integration.
How does Insights-X work?
Insights-X has a history of up to 3 years and analyses nearly 2 TB of data taken from more than 20,000 reservations per day and more than 2,000 million searches. To facilitate data visualisation, TravelgateX and Insights-X users can benefit from a template that is completely free of charge, integrated in the Data Studio platform.
In this way, all TravelgateX partners always have privileged, permanently updated and meticulously collated information at their fingertips in order to study business strategies that will help them continue to grow within the tourist market.
“Knowing these indicators will provide a strategy that is more adjusted to reality, and hoteliers will be able to measure the performance of operations carried out in their establishments”, assures the Customer Success department at TravelgateX, responsible for providing all our partners with the support they need in order to make the most of our tools.