Travel technology itself is very broad term, initially it represents CRS (computer reservation system).
Now days, travel industry expended and having, Flight, hotel, car, vacation / tour package booking. Travel technology covering all the travel verticals, and providing solution for each and every vertical.
Every travel vertical (Flight / Hotel / Car / vacation or tour package) having 5 common branches :
- Booking Engine
- Marketing Tool
- Data Science
- Operations & Finance
- Mobile App
Below image referring Flight / Air vertical components for every branch:
The evolution of information technology is having a direct impact on the travel agency service industry and helping modern travel business in many ways, lot of new innovations are already on the way, few of them are :
- IoT Technology: IoT can help customer by providing Seamless Travel Experience, like in airport this may mean some sensor to sending information to customer’s smartphone, sharing information about baggage when its nearby etc. Personal Control can help to control multiple devices in hotel during stay, internet based heating, lighting, television etc. which customer can control by single button push / device.
- Recognition Technology: This technology covers all the bio-metric identifiers, which includes facial recognition, finger print recognition, retina scanning etc, this technology having potential to remove friction from purchase and making interaction seamless.
- Artificial Intelligence (AI) : In Travel industry, AI is very much suitable for customer service purpose. By using chat-bot, response to customer queries, will be much faster and also, it can be improved by using real time learning curve, bots can improve by own learning day by day real time customer interaction.
- Virtual Reality (VR) : Virtual Reality is another buzz work in today’s era, VR allows business owner to digitally transport customer to a virtual recreation of any specific place. It is one of the most promising technology in travel & tourism sector, 360-degree video view can be a game changer for any hotel / property.
- Augmented Reality (AR) : AR is similar to virtual reality but rather than replacing, it involves to augmenting a person’s real surrounding. Major plus point with AR is, this technology is cheaper to Virtual Reality, and user only needs smartphone or tablet device with active internet connection. Using a graphic overlay, customer experience can be greatly enhanced by providing customers with valuable information or even pure entertainment.
- Big Data : In modern travel industry, big data is playing a major role, one of the biggest use of big data is to personalize user experience and improve offering basis on past experience. Another major use of big data is to calculate current business performance, and basis on that project future need to business.
Adopting the trends discussed above, will allow business to offer better experience to customer and also will help to optimize revenue and overall business performance.