Online travel agencies (OTA) have taken the travel agency industry completely by storm. OTAs have not just disrupted the travel industry, but created an entirely new ecosystem where networking and collaboration underpin business success. That said, the meteoric rise of OTAs has also overcrowded the market to the extent that the market is now almost saturated, and OTAs are aggressively fighting for customer attention and a larger pie of the market share. Today, OTAs have captured over 40 percent of the global travel and tourism market, but this is commanded by players who have mastered the art of managing and aggregating data at high speed with high accuracy.
Data is the most important aspect of an OTA business. It is critical that travelers are able to access and discover information that they are looking for at the right time through the right channel. Efficient data aggregation and management empower OTAs to design relevant services and itineraries and gain deeper insight into customer preferences. However, the challenge facing OTAs is the ability to keep pace with the exponentially growing data volume. Most players are struggling to properly use data to their advantage. The lack of ability to aggregate data quickly can make it tedious and difficult to respond to travelers’ ever-growing needs for the right information at the right time.
With so much at stake, OTAs need to consider outsourcing as their go-to option for data aggregation services. Outsourcing can help OTAs address their challenges as well as enable them to leverage data to their competitive advantage by allowing them to deliver a unique and satisfying customer experience.
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