A new approach in tracking travel demand

McKinsey

To recover, the industry will need better data on where and when demand is likely to rebound. Insights on Travel, Transport & LogisticsThe scale of the current crisis in airlines is unprecedented.

Travel and logistics: Data drives the race for customers

McKinsey

We analyzed data from 15 European countries to better understand emerging travel industry technology and customer needs in the travel and logistics sectors. Insights on Travel, Transport & LogisticsWhat can companies in this space do to respond to shifts and sharpen their digitization strategies?

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What can other countries learn from China’s travel recovery path?

McKinsey

In May, we asked how much the world could learn from China’s postpandemic travel recovery. Now, we explore where lessons from the latest data from China may be relevant for other countries. Insights on Travel, Logistics & Transport Infrastructure

Airline data: What next beyond crisis response?

McKinsey

Airlines are using a wealth of new data sources in 2020. Strategy should now replace adrenaline as the fuel for decisions around data adoption and usage. Insights on Travel, Logistics & Transport Infrastructure

Data will decide success in the next normal of bulk and tanker shipping

McKinsey

Insights on Travel, Logistics & Transport InfrastructureCOVID-19 and commodity-related trends are likely to depress medium-term demand, but companies that can leverage deep market insights will have the opportunity to outperform in the postcrisis economy.

Big Data's Impact on Holiday Travel

1 to 1

While many consumers are scrambling to purchase last-minute gifts, others are plotting and planning their holiday travel itinerary. But travelers aren''t the only ones preparing for the rush at the airport. Many travel businesses are now using Big Data, behavioral trends, and text analytics to adjust their operations accordingly. Customer Strategy Data Analytics Emerging Trends airlinecustomerservice customerexperience customerloyalty customerservice

How Smart Speakers Are Poised to Reinvent the Travel Industry

Harvard Business

Travelers with an Alexa device at home can book a car rental or hotel through Expedia and Kayak. On many fronts, artificial intelligence-powered smart speakers and apps seem poised to become the world’s virtual travel agents. If consumers start turning regularly to smart speakers for their travel needs, they could end up interacting less and less with traditional airline, hotel, and even online travel agency brands. A voice-enabled travel era.

Just How Bad Is Business Travel for Your Health? Here’s the Data.

Harvard Business

I went with the pizza, but my lack of choices was annoying — so much so that, when I got home, I started looking into the data on health and travel for work. According to the Global Business Travel Association and American Express , Americans took more than 500 million domestic business trips in 2016. To investigate the link between business travel and chronic disease conditions, my colleagues and I turned to de-identified electronic medical record data from EHE, Inc.,

The Data Digest: Customer Service Has Gone Digital

Think Customers

In the past week, I have booked a flight using a travel voucher, questioned a charge on my credit card bill, and bought an electric toothbrush. Instead, with a little online research, I was able to identify which blackout dates applied to my travel voucher, clear the charge on my credit card bill, and learn the best settings for my toothbrush. Customer Engagement Customer Strategy Data Analytics customerservice digitaldata forrestersconsumertechnographics®data

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Role of Big Data in Healthcare

Tom Spencer

The healthcare industry generates a large amount of data. The retention of this data is driven by the need to meet intricate compliance and regulatory requirements. 1 Electronic health record (EHR) data is at times so massive that it can be difficult to manage with the usual data management tools that hospitals and physicians currently use. healthcare system held over 150 exabytes of data back in 2012, and will soon reach a yottabyte (10 24 gigabytes).

Advanced analytics can drive the next wave of growth for travel and logistics companies

McKinsey

Even without perfect data, T&L companies can generate sales growth through analytics-based insights. Here’s how it’s done. Marketing & Sales Insights

Traveling for Work? You’re a Prime Target for Hackers

Harvard Business

As if the stresses and headaches of business travel weren’t enough, there’s one more thing to worry about while traveling in unfamiliar places: the security of your email. Instead, infiltrating a corporate network and siphoning off sensitive data is about meticulously gathering information over an extended period, and then using that information to launch a precision strike targeted at one or two employees. Establish executive travel email protocol.

Women Book Business Travel Earlier, Saving Companies Millions

Harvard Business

The demand for business travel is gender-independent, but men and women demonstrate different travel habits that impact the bottom line. We know from previous research that women react more strongly to unforeseen events and are more stressed than men when traveling for work. But what about when planning travel? We isolated data on how far in advance of flight women and men book their travel. HBR STAFF.

The Data on Who Takes "Bleisure" Trips

Harvard Business

Everyone combines business travel and vacation. Managing yourself Video

Enhancing Customer Insights with Public Location Data

Harvard Business

The pervasive adoption of mobile devices has driven an explosion of contextual user information, including geolocation data, which has become a valuable resource for marketers. However, a lack of technical skill sets among marketers has made it difficult for them to use this data (when they have access to it) effectively. Plus, changing regulations mean it’s more important than ever for marketers to understand what data they have access to and how to properly leverage it.

Data 30

Do You Know What Your Company’s Data Is Worth?

Harvard Business

Even more so because firms are confronted by growing volumes of data, and the stakes implied in misinterpreting the value of that data have risen to new heights. Data is no longer the domain of tech companies or IT departments — it is fast becoming a centerpiece of corporate value creation more generally. Today most organizations are data-driven to one degree or another. Data IT Digital Article

Sometimes “Small Data” Is Enough to Create Smart Products

Harvard Business

When thinking about practical applications for artificial intelligence in your business, it’s easy to assume that you need vast amounts of data to get started. AI is fueled by data, and so it only makes sense that the more data you have, the smarter your AI gets, right? When it comes to extracting intelligence by applying AI to data, context matters. By linking this technology with a relatively small and finite data set of U.S. Tame data chaos.

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The New Merchants of Data: Creating a More Equitable Exchange of Data Between Digital Businesses and their Customers - SPONSOR CONTENT FROM MICROSOFT

Harvard Business

” digital iconoclast Jaron Lanier, who was named one of the 100 most influential people in the world by Time magazine and is now a Microsoft employee, once pointed out that people should own their online data profile and be compensated if they choose to share some of it. Now the rise of digital technologies has added a third construct: data equity. But as Lanier rightfully questioned — who ultimately owns this data? Data as equity. Data as currency.

The Data-Driven Case for Vacation

Harvard Business

Travel Association to more clearly understand the relationship between well-being and taking time off from work. Travel Association and Project: Time Off, presents a high-definition picture of how overwork affects our success rates and well-being. A 24-month moving average was used to eliminate short-term fluctuations in the data.) But the data does not support that. And that is exactly what the data bears out.

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How to Integrate Data and Analytics into Every Part of Your Organization

Harvard Business

Many conversations about data and analytics (D&A) start by focusing on technology. The stakes are high, with International Data Corporation estimating that global business investments in D&A will surpass $200 billion a year by 2020. Putting Data to Work. For the 2016–2017 season, thousands of constraints needed to be taken into account related to travel, player fatigue, ticket revenue, arena availability, and three major television networks.

Email and Calendar Data Are Helping Firms Understand How Employees Work

Harvard Business

Using data science to predict how people in companies are changing may sound futuristic. As we wrote recently, change management remains one of the few areas largely untouched by the data-driven revolution. But while we may never convert change management into a “hard science,” some firms are already benefiting from the potential that these data-driven techniques offer. What this gives us is hard data on how processes fail in the organization.

NSA Monitored 60 Million Phone Calls in Spain; Drowning in Useless Data; Hello NSA!

MishTalk

Drowning in Useless Data. The NSA is currently drowning in data. Because of my frequent international travel which is undoubtedly logged, this email will make it past another filter. Having a good time sorting through useless data, day after day, after day, and wasting taxpayer money in the process? Is there anything the NSA is not monitoring? That''s the question of the day as I note the Financial Times article NSA monitored 60m phone calls in Spain, say media.

Media 55

Use Big Data to Create Value for Customers, Not Just Target Them

Harvard Business

Big data holds out big promises for marketing. To address these questions, marketers have trained their big-data telescopes at a single point: predicting each customer’s next transaction. In many industries, including travel, insurance, telecoms, music, and even automobiles, we are rapidly closing in on equalization of predictive capabilities across competitors, so there is little lasting competitive advantage to be gained from predicting the next purchase.

New Technologies in the Insurance Landscape (Part 3 – Cloud)

Tom Spencer

The cloud – which refers to storing, managing, and processing data via a network of remote servers instead of locally on a server or personal computer – is quickly becoming a critical source for innovation. Here are five common reasons organizations are turning to cloud computing services: Cost: Reduces the capital expense of buying hardware and software and setting up on-site data centers. He’s also an avid traveller with passion for FinTech, marathon, and blogging.

How Many People Really Combine Work Trips with Vacation?

Harvard Business

In corporate travel, extending a business trip for personal purposes is known as “bleisure,” an awkward term that’s only saving grace is that it’s less awful than the alternative, “bizcation.” ” Bleisure travel has received considerable attention lately, with some traveler surveys suggesting that as many as 6 out of 10 people have tacked on personal time to a business trip. Companies should also take bleisure travel into account.

Change Management Is Becoming Increasingly Data-Driven. Companies Aren’t Ready

Harvard Business

Data science is becoming a reality for change management, and although it may not have arrived yet, it is time for organizations to get ready. The companies best positioned to change in the next decade will be the ones that set themselves up well now, by collecting the right kind of data and investing in their analytics capacity. The key to building predictive models is knowing what you want to predict and collecting large and diverse data sets that may enable you to do so.

The Most Common Ways You Could Get Tricked into Compromising Company Data

Harvard Business

Alternately, a malicious insider steals data for personal or financial gain with intent to harm the employer. According to a study performed by Accenture and HFS Research , “2 out of 3 respondents reported experiencing data theft or corruption from within their organizations.” ” A study by the Ponemon Institute reveals that 62% percent of end users say they have access to company data they probably shouldn’t see. JakeOlimb/Getty Images.

Blockchain Will Transform Customer Loyalty Programs

Harvard Business

Loyalty programs have proliferated across travel, retail, financial services, and other economic sectors. No single party controls the data or the information. See More Videos > See More Videos > All loyalty programs are vulnerable to a blockchain revolution, but the travel industry is perhaps the most at risk. In some cases, travel loyalty program points differ by journey component (flight, car rental, hotel, dining), leading to fragmented point collections.

New Technologies in the Insurance Landscape (Part 1 – Artificial Intelligence)

Tom Spencer

Industries such as travel, automotive, health and financial services, all of which are deeply tied to the insurance industry, have undergone significant disruptions of their own. AI serves two distinct purposes in the insurance landscape – data analytics and automation. When such disasters arise, AI offers access to relevant data that can help insurers process claims faster and get customers the help they need in the moment they need it.

Artificial Intelligence: It’s Current and Future Role in Healthcare (Part 1 of 2)

Tom Spencer

This should be contrasted with “machine learning”, where computers can learn from the data allowing them to find patterns that a human expert may have missed. The most recent way of getting computers to learn from the data is known as “deep learning”, a form of machine learning in which patterns in the data are recognized in multiple distinct layers with different levels of abstraction. AI / Big Data Healthcare artificial intelligence healthcare

Artificial Intelligence: It’s Current and Future Role in Healthcare (Part 2 of 2)

Tom Spencer

Therefore, the AI system would need to be trained on a broad sample of patient data including from the region in which it is deployed. Giving medical providers access to the mountains of electronic health data that hospitals and medical centers have will open up many new opportunities for AI in healthcare. His free moments are spent traveling and enjoying sporting events with his wife and daughter. AI / Big Data Healthcare artificial intelligence healthcare

How an Airplane Laptop Ban Would Expose Company Data to Espionage

Harvard Business

Millions of global travelers are anxiously awaiting the answer to this question. Aside from another terrorist group disrupting world-wide travel operations at a cost of hundreds of billions of dollars , the other big winners from an increased ban could be foreign intelligence services. million people, earning an average salary of $152,868, traveled to Europe on business in 2015. Much of this theft occurs while American business travelers are operating overseas.

Airbnb Is Facing an Existential Expansion Problem

Harvard Business

” But how many travelers can “live there” before Airbnb accepts that it has become a vehicle for mass tourism, and that its users are tourists, no more and no less? ” But this is being economical with the truth: My independently collected data set shows that the 28% of hosts with more than one listing (who can be considered “commercial” hosts) account for two-thirds of the company’s business in Lisbon. HBR STAFF.

It’s High Time Airlines Got Personal

BCG

Thanks to digital innovators such as Amazon and Netflix—not to mention travel industry disruptors such as Uber and Air-bnb—consumers’ expectations are on the rise. In one recent survey, more than 85% of travel consumers said they value personalization. In another, more than 85% said personalization has affected their travel purchase decisions. See Travel Innovated: Who Will Own the Customer, BCG Focus, January 2016.) Article Wednesday, August 31, 2016.

Our Physical World Has Changed: Augmented Reality in Tourism

Tom Spencer

Augmented reality operates by transforming data and analytics into information and images which are overlaid on the real world. Flat screen devices that render two-dimensional data for use in a three-dimensional world can be used to increase a user’s access to information and analytics.

Consultant Marketing Stages of Success

Jerry Fletcher

Expense accounts are no longer a major item for corporations as travel and entertainment have pretty much been eliminated. Quoted Your views, based on solid data and good thinking become touchpoints in your area of expertise etched into prospects minds. Not everyone is a customer.

The Perils of Internal Disruption (Part 4)

Markovitz Consulting

It made no sense for consultants traveling all the way from Japan to the United States to work with a company for just a half-day or a full day. Next week: Reacting to Noise in the Data “Disruption” has become another business buzzword that obviates the need for prudent, careful thought and consideration. If something is “disruptive,” then it must by definition be good.

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Coronavirus & Consulting Offers

Tom Spencer

The travel and hospitality industries have been decimated, stock markets around the world have tanked, and governments struggle to combat this devil on so many fronts. Reading Time: 3 minutes. The coronavirus epidemic has rattled the planet.

The Most Disappointing Aspect of the NSA's PRISM Leak?

The Crazy Lives of Consultants

Wait, isnt that the same data from the previous slide, just illustrated even more poorly? skip to main | skip to sidebar. Monday, June 17, 2013. The Most Disappointing Aspect of the NSAs PRISM Leak? That Crappy PowerPoint. So the NSA has spent millions to build a secret network to spy on users of the biggest Internet portals.

MBA, Consulting and Meditation – The Unlikely Trio

Tom Spencer

It involved data analysis, teamwork, assignments, remote client-meetings, and traveling. During the MBA experience, meditation was one of those words that I constantly heard of, read about and wanted to practice but never actually did. I kept hearing about its benefits from the people practicing it, and it still kept being an item on my long want-to-try list. Whenever I would set the alarm for the next morning to start a 5-minute meditation session, I would fall asleep instead.