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How machine learning boosts personalisation in travel

eyefortravel.com·Requires Registration 19 October 2017
Data is everywhere but how do you create value for individual users? It isn’t easy but in this case study we hear how data science can deliver more personal results Consider this common hypothetical scenario. A user opens a browser and taps in ‘cheap flights from Boston to London’. Needless to say, what appears first in search are the ten blue links from Google. After some surfing, the user is then drawn to a metasearch engine like Skyscanner, Kayak or Momondo, where flights can be filtered by date and price. Here the cheapest deal is, let’s say, from Norwegian Airlines, and as the meta aggregates offers from various providers, the user again opens multiple links to deals from online travel agencies (OTAs). Time spent on each site is never much longer than around 30 seconds.

When cognitive AI, CRM and mixed reality collided

eyefortravel.com·Requires Registration 12 October 2017
VR and AR are now widely known terms for travel brands but could ‘mixed reality’ deliver something different? Imagine a day when cognitive artificial intelligence (AI) and customer relationship management insights all come together in a digital display on the screen of a pair of slick high-tech glasses? Is this the future of customer service for airlines, hotels, cruise companies and more? Stuart Greif, a senior executive at Microsoft, who is speaking in Las Vegas, whose one area of focus is travel and hospitality, believes so.

Machine learning: what does the industry want next?

eyefortravel.com·Requires Registration 22 September 2017
Machine learning is more popular in the travel industry now than ever. There’s a simple explanation for that fact: machine learning is more powerful now than ever before. The appeal of machine learning – essentially a form of artificial intelligence (AI) whereby computers learn without being explicitly programmed with new information – is clear. At exceptional speed, for example, complex algorithms can identify subtle but important data patterns that humans could never have spotted. In ‘learning’ from that information, the ‘machine’ can predict patterns ahead, and then act to process that knowledge to maximise future business. In a sense, then, machine learning is a modern and highly sophisticated technological application of a long-established notion – study the past to predict the future.

Blockchain and travel: the plot thickens

eyefortravel.com·Requires Registration 30 August 2017
There has been plenty of hype around blockchain, the technology that underpins cryptocurrencies like Bitcoin, but the application for travel is gathering momentum When the head honcho of the largest leisure, travel and tourism company in the world comes out saying that he is betting on blockchain, it seems that the technology that underpins cryptocurrencies has moved beyond hype.

Hotels make strides measuring ancillary revenues

eyefortravel.com·Requires Registration 21 August 2017
With growing competition, understanding the impact of ancillary revenue on the bottom line is crucial and, while there is still work to do, hotels are upping their game Measurement of ancillary revenue streams is up across the board, says the new Aggregating Data Streams for More Effective Revenue Management report from EyeforTravel.

Hotels make strides measuring ancillary revenue

eyefortravel.com·Requires Registration 21 August 2017
With growing competition, understanding the impact of ancillary revenue on the bottom line is crucial and, while there is still work to do, hotels are upping their game Measurement of ancillary revenue streams is up across the board, says the new Aggregating Data Streams for More Effective Revenue Management report from EyeforTravel.

Why RM is the new profit management

eyefortravel.com·Requires Registration 17 August 2017
EyeforTravel’s latest report delves into the changing discipline of revenue management and why it is becoming so relevant to a hotel’s bottom line Revenue management is becoming a more all-encompassing discipline, according to EyeforTravel’s new Aggregating Data Streams for More Effective Revenue Management report. In fact, 71% of revenue managers believe that the discipline should be recognised as ‘profit management’.

Does Deep Learning Hold the Answers?

eyefortravel.com·Requires Registration 8 August 2017
The travel and tourism industry is struggling under mountains of data, data that is virtually always imperfect, frequently in different formats, and from a host of sources. How can brands hope to make sense of this confusing and ever-growing universe of information let alone apply it to real-world applications? The answer lies in Artificial Intelligence (AI), specifically deep learning.

10 data science insights from the Trainline

eyefortravel.com·Requires Registration 25 July 2017
The discipline of data science is not for the fainthearted but at Trainline, an innovative, independent digital rail platform for rail travel, it’s at the heart of everything As head of data science at Trainline, Fergus Weldon, who will be speaking at EyeforTravel’s Smart Travel Data Summit 2017, is at the coalface of innovation. In an exclusive interview he shares ten things he knows about data science today.

Why travel brands need to up their chatbot game

eyefortravel.com·Requires Registration 24 July 2017
In a final taster from EyeforTravel’s latest white paper on chatbots we find that travel brands still have work to do Chatbots are a potential route to billions of consumers but travel brands are failing to fully take advantage of their possibilities, according to a recent report from EyeforTravel and Travelaer titled Are Bots Worth the Bother?

3 ways for hotel revenue managers to beat the competition

eyefortravel.com·Requires Registration 17 July 2017
A new report from EyeforTravel delves into ways that revenue managers can aggregate data streams more effectively The impact of competition is the biggest headache facing revenue managers tasked with creating pricing and distribution strategies, finds EyeforTravel’s latest report - Aggregating Data Streams for More Effective Revenue Management report. In fact, half of the revenue managers surveyed said that their competitors create difficulties when trying to set their own pricing strategy. Unforeseen events are the next biggest challenge for 43.8% of respondents, followed by attribution of the sales channel. The challenge of accurate attribution is an issue that comes up time and again in EyeforTravel research.

5 lessons for building a successful travel chatbot

eyefortravel.com·Requires Registration 10 July 2017
As costs come down and the technology matures, chatbots are proving their value, as a new white paper from EyeforTravel reveals Chatbots are becoming increasingly sophisticated and capable of mimicking human conversation. But what exactly should bots do and how can they be successfully deployed by travel brands? Answers to this question begin to emerge in a report titled Are Bots Worth the Bother? from EyeforTravel and tech firm Travelaer.

How travel brands are using virtual reality

eyefortravel.com·Requires Registration 31 May 2017
It may be early days but a new white paper from EyeforTravel shows that there are applications for VR in travel In 2016 as many as 1.5 million units of dedicated Virtual Reality headsets were shipped, with PlayStation coming out tops. It sold 745,000 units, according to the games and interactive media intelligence firm SuperData, followed by HTC Vive (420,000), Oculus Rift (355,000) and 261,000 (Google Daydream).

Ancillary merchandising: time to get calculated!

eyefortravel.com·Requires Registration 17 May 2017
Technology that statistically calculates tailored ancillary products for hotels can improve the experience while driving revenues, but could this apply to airlines too? Tom Bacon thinks it might Using big data analytics to sell more customer specific ancillary products, is what hotels should be focused on, Jerry Joyce, senior vice president at marketing intelligence agency Wiland and sponsor of EyeforTravel events told an audience in Atlanta earlier this year.

Priceline's secret sauce: humility, synergy and people

eyefortravel.com·Requires Registration 10 May 2017
Sitting “humbly” in the keynote hot seat at EyeforTravel Europe last week, dressed casually in jeans and an open-neck shirt, a first guess wouldn’t be that this was the CEO of a multi-billion dollar company. But this is, after all the travel industry, and after spending 17 years building the biggest OTA in the business, with revenues of $10.7bn in 2016, you could argue that Glenn Fogel has every reason to look relaxed. But probably not for long, given the fierce competition and disruptive forces currently at play.

Customer service with a high-tech edge

eyefortravel.com·Requires Registration 8 May 2017
May 8, 2017 From highly relevant, data-driven deals to ‘deceptively’ successful chat bots, innovative travel firms are using technology to reach millions of customers personally. Senay Boztas reports Like a freshly ironed newspaper at your door every morning, how do you deliver a personal service…to millions? This was the question that travel companies, tech experts and hoteliers tried to answer on the first day of EyeforTravel’s Europe Summit, which took place in London last week.

Booking partnerships, Google and chatbots will define the future

eyefortravel.com·Requires Registration 26 April 2017
Attendees at Day 2 of EyeforTravel’s San Francisco conference got a solid history lesson, a peak into the future, and some practical advice for creating happy holidaymakers. Derek Water reports The travel industry’s work must continue as the quiet conquest undertaken by Google, which has slowly amassed a formidable presence with new travel initiatives, continues.

3 online travel industry essentials: data, AI and the human touch

eyefortravel.com·Requires Registration 25 April 2017
Derek Walter rounds up Day 1 of the San Francisco Summit where the talk of the town has focused on innovation for a mobile and digital world Creating the ideal travel experience requires both a radical devotion to technological innovation and a reliance on traditional, shared interactions that so many travellers are after. This balancing act is a challenge, with swift changes happening all the time in technology and customer expectations. But there was plenty of practical advice and industry expertise for attendees of the EyeforTravel San Francisco Summit with executives from companies sharing their advice on how brands can stand out in a digital and mobile world.

Man vs machine: humans still have the upper hand, says CWT

eyefortravel.com·Requires Registration 13 April 2017
Replacing many human tasks using AI is possible and might help to drive efficiencies, cut costs and improve the customer experience, but there is more to it than that. Just about every occupation, say consultants McKinsey, have a task that can be automated using artificial intelligence (AI). Though to date there’s been a lot of talk and not so much action in the travel space, with brands like Amazon pouring money into Alexa, it remains a hot topic.

Panel Discussion: Smash Down Revenue Management Silos with the Power of Education

eyefortravel.com·Requires Registration 8 March 2017
Robert Goad, Director of Revenue Management, La Quinta Inns and Suites | Jeffrey Roy, Vice President of Revenue Management, Collette | Cynthia Paynter, Director, Revenue Management, Talent & Education, FRHI, by Accor

Don't Forget the Bottom Line! Fulfill the Quest for True Cost

eyefortravel.com·Requires Registration 8 March 2017
Josh Henegar, Corporate Revenue Director, 1859 Historic Hotels

How to maintain High Revenues and Profitability when Supply outstrips Demand

eyefortravel.com·Requires Registration 8 March 2017
Scot Hornick, Member, Board of Advisors, Professional Pricing Society

How API partnerships disrupt complex businesses

eyefortravel.com·Requires Registration 16 February 2017
API’s enable new kinds of partnerships that are changing the travel business and unlocking new sources of revenue. Andrew Hennigan hears how this is playing out in rail In the rail travel industry the complex global network of carriers is both a blessing and a curse. A blessing because the global rail network reaches more destinations than airlines and a curse because, until recently, to exploit this advantage travel agents had to resort to phone calls to fully connect all the dots and arrange a complete end-to-end booking.

Technology with a human touch: travel's new super power?

eyefortravel.com·Requires Registration 7 February 2017
Pamela Whitby has been finding out if the days of purely self-serve online travel are over “Metasearch on steroids,” is how industry veteran Krista Pappas, the vice president of Lola, describes the firm’s new agent console, a state-of-the-art piece of kit that delivers “super powers” to the group’s living-breathing travel agents. The console, which communicates back and forth with Harrison, Lola’s artificial intelligence (AI) engine – its answer to IBM Watson – gives the firm’s 20-strong travel agent team “all these new, amazing and efficient tools”. Tools that will help Lola, a startup leading the charge away from purely self-serve online travel, to deliver a truly personalised experience.

AI + NLP: the winning chatbot formula?

eyefortravel.com·Requires Registration 2 February 2017
Feb 2, 2017 Article Event Banner Andrew Hennigan has been finding out if artificial intelligence technology will power a new generation of travel chatbots this year In 2016 there was a lot of talk about chatbots and artificial intelligence (AI). As CarTrawler’s Bob Healey bluntly puts it in an interview last month: “People are now sick of hearing about AI and bots, so I think they’ll actually start doing something in that space rather than just talking about it.” Putting it a little more gently, is Swapnil Shinde, CEO and co-founder of Mezi, an AI-powered personal travel assistant app which allows users to interact using natural language. "AI-driven chatbots have made massive headway over the last year and we expect this to continue into 2017 as the technology becomes mainstream,” he says.

Go with the flow: why US airlines are swinging back to connections

eyefortravel.com·Requires Registration 31 January 2017
Revenue management systems are designed to prioritise demand and to fill planes with the highest value passengers. Thus, a key feature is actually non-acceptance - turning away demand that is deemed lower value in favour of saving seats for more valuable passengers. Related Content: 5 things the US airline industry can expect in 2016Shop while you fly: how airlines plan to ride out turbulenceLessons in pricing with precision from United AirlinesImage: Banner Ad: Banner URL: http://events.eyefortravel.com/san-francisco-summit/Tags: Tom BaconUS airlinesHub Airlinesrevenue managementpassengerChannels: Revenue and Data ManagementArticle type: Industry Insight

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