It’s the traditional time of year for taking stock of past progress and looking forward to future promises. At Triometric we’ve had a great year with a number of new clients on boarded including a major hotel chain and after much hard work by our developers, we will be shortly announcing the release of our next generation platform with extended functionality and capability for analysing XML traffic.
I’m a keen follower of travel and technology developments. There are some great pieces that have been written over the year that stand out in contributing to our understanding of the travel industry’s evolution. To close this year, I thought I would share my two favourite informative reads of 2018 (that we didn’t write!) as well as some of my favourite trend prediction blogs.
There is no shortage of industry experts offering their insights into the winning tech trends of 2019 that travel enterprises should take note of. I’m recommending a few that I found particularly interesting and relevant to the travel industry and where the supporting explanations made sense. Interestingly enough there are a lot of predictions out there that still give, AI, Robotics, Recognition technology, Personalisation and Blockchain the same thumbs up as in previous year with the promise that 2019 is the year of breakthrough. Time will tell. With all the buzz and hype around trends, the reality is that the real benefits and uptake take much longer than originally foreseen. My good reads deal with the more mundane but important role of data and the underlying evolving technologies.
In an age where technology has the power to disrupt and transform a marketplace overnight, keeping up with the tech trends of the day can help organisations stay relevant and competitive. By understanding the potential impact of these emerging trends, business leaders can integrate their potential into their strategic thinking, allowing them to adjust planning, operation and business models according to their own needs. Ignoring tech trends, especially where business intelligence is involved can put the future at risk.
Favourites of 2018
So, let me introduce my two favourites which present a fairly accurate insight into where air and hotel distribution are heading:
- “New Scenarios for a Fast-moving Airline Distribution Landscape” in which PhocusWire summarises the findings of Dr. Fried and Partner, who gathered views from 19 industry specialists (airlines, GDSs, aggregators and technology players), to set out how airline distribution and the relationship with customers is developing over the next 3 to 5 years. You can get hold of a full copy here.
- An interview featured in Travelling News with two Hotelbed executives giving their experience and insights into the consolidation and strengthening of the intermediary hotel distribution market in offering hotels effective routes to market, not just through increased dependency on OTAs but also reinforced partnerships with bed banks. In particular, metasearch has forced price transparency which drives down margins and makes it harder to compete to make that sale. For those competing on price alone this is leading to a data-analytics arms race as providers compete to have the fastest and best pricing technology to outwit the competition.
Now for my 3 most insightful 2019 Prediction recommendations:
- Top 10 Strategic Technology Trends to watch out for in 2019
The view from Travelelog is based on Gartners annual look forward.
This popular travel and news portal puts ‘Augmented Analytics’ at number two. Augmented analytics capabilities will advance rapidly to mainstream adoption, as a key feature of data preparation, data management, modern analytics, business process management, process mining and data science platforms. Get all 10 here.
- Top 10 Travel Industry Trends in 2019
After the prioritisation of personalisation and recognition technology, and the introduction of robots, the constant growth of online bookings comes fourth on the list. According to SmartInsights, today, 60% of leisure and 41% of business travelers are making travel arrangements via the internet. (These are probably US figures, but serve as a good barometer. This puts the onus on travel suppliers to cultivate digital channels for reaching and satisfying the consumer. All 10 are listed here.
- Big Data 2019 Predictions (Part 3)
This article (indeed one of 3) featured on DZone takes the approach of asking 18 IT executives for their 2019 predictions. This part focuses on their Big Data predictions which I found fascinating, as some of them were quite in depth and well-reasoned. Here are just two small examples:
- Jonathan Hassel from O’Reilly points to a shift in intent around data collecting and protecting it, to actually using it. He sees a marked shift towards wanting to know how to speed up time to insight, how to collect the right data (as opposed to just collecting all data, all the time), and how to operate more efficiently, both in the data department and as organisations in general. He discusses his vision of in-memory solutions, predictive analytics, edge computing and self-service business intelligence among others.
- Nima Negahban from Kinetica suggests that enterprises are in a race to become data-powered businesses yet only a small fraction of the value of advanced analytics has been unlocked. In 2019 there will be high-demand for new innovations around smart analytical applications that are driven by real-time interactions, embedded analytics, and AI.
In my humble opinion, these are interesting reads for anyone interested in where technology and data analytics are heading. All predictions can be found here.
At Triometric we are excited by some of these predictions as we incorporate some of them in our vision for our next generation platform, which we are launching in Q1, 2019. Watch this space.