Collected But Neglected: Data Could Save The Travel Industry
/The travel industry has not bounced back from COVID-19 the way many of us hoped. As Warren Buffet said of crises, “Only when the tide goes out do you discover who's been swimming naked.” Despite some notable exceptions, the travel industry looks more naked than Tom Hanks marooned on a Pacific beach in Castaway.
Pre-COVID, travel, tourism and hospitality was one of the world’s largest industries and employers at about 10 percent of global GDP. No matter where your company sits on the value chain, you must be asking yourself: How do we survive this? How do we come back stronger?
After cutting costs and maintaining operations, the quest for new revenue opportunities is paramount. The greatest such opportunity is right under your feet, hidden in the data you already own. “There’s gold in them thar hills,” as Mark Twain put it.