Improving customer and operations insights with big data analytics in travel & transportation
Consumers are becoming smarter shoppers with a variety of choices via various channels – phone, web, kiosk, counter, 3rd-party agency, etc. Commuters are becoming more demanding in the quality and variety of services available as a result of rewards systems or loyalty programs.
In order for travel & transportation organizations to capitalize on these and other challenges in the industry, they need ways to collect, manage and analyze a tremendous volume, variety, velocity and veracity of data. Organizations who can tackle the big data challenge will differentiate from competitors, gain market share and increase revenue and profits with innovative new services.
Successfully harnessing big data can help achieve three critical objectives for travel & transportation transformation: Maximize availability of assets and infrastructure; Enhance services to increase revenue and manage capacity; and Dramatically improve the end-to-end customer experience.
IBM can help you achieve your business objectives by applying big data solutions to key business use cases. These include:
Customer analytics and loyalty marketing
Analytic insight can be beneficial to multiple functional areas such as call center, operations, marketing and sales. More importantly, rapid insight enables these parts of the business to address customer problems or respond to the opportunities far more quickly than previously possible.
IBM's big data and analytics platform, now known as IBM Watson Foundations, can help leverage high volumes and variety of customer information from all customer points of interaction - with your brands, with your competition and from customer-generated social media in order to increase sales, loyalty participation and use contextual data to execute more personalized offers and promotions and deliver more compelling customer interactions and experiences. Benefits include:
Con-way Freight’s enterprise data warehouse provides ad hoc business intelligence and operational reporting for more than 50 percent of processes throughout the organization.
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Capacity and pricing optimization
As fares and rates are published daily, time is of the essence. Clients recognize that even with experts looking into fare analytics, they only have the manpower to process a percentage of all their markets. There is a clear need for more automation to quickly and thoroughly research and analyze all the data in order to optimize fare pricing strategies.
Big data and analytics will fundamentally change manual fare analysis to smarter, automated fares by applying analytics to hundreds of millions of published fares and rapidly analyzing hundreds of terabytes of historical domestic and international fares, competitor behavior, seasonality data and overall market opportunity data. Benefits include:
Predictive maintenance optimization
Many travel and transportation organizations lack visibility into asset health, incur high costs from unscheduled maintenance and are unable to determine root cause of failures.
Predictive Maintenance Analytics helps capture data from equipment sensors and integrates with data from visual inspections, manual measurements, etc. to maximize equipment life and yield while reducing maintenance costs.
IBM Watson Foundations can help drive operations excellence, improve safety and optimize yield from assets and infrastructure by reducing unplanned equipment failures resulting in service delays and outages keeping high value assets around the world, productive. Predictive maintenance analytics on equipment generated sensor data can improve asset lifetime value while lowering asset management costs. Benefits include:
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Industry Marketing Manager, Travel & Transportation
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