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Predictive analytics holds the key to anticipating your customer’s travel needs - Concentrix - ContactCenterWorld.com Blog

Predictive analytics holds the key to anticipating your customer’s travel needs

How can BPM companies contribute to the growth of the travel and tourism sector?

Neha Jolly
GM – Sales Messaging, APAC.

Making travel plans once required contacting an airline or physically going to an airport or railway station to buy tickets. You then had to telephone various hotels and choose from an endless list of rates. Today’s technology has made the process much simpler. Making travel plans, whether for business or leisure, has never been easier.

The increasing ease of making travel plans – and expansion of a global middle class – has contributed to growing demand for the travel industry. The number of international tourists has more than doubled since the 1970s. A new niche for travel – medical tourism – has rapidly grown over the last few decades. In fact, according to a report by CII – Grant Thornton, India’s medical tourism market is expected to more than double from $3 billion a year to $8 billion by 2020. Such growth means service providers have a bigger challenge than ever before.

While rapidly evolving technology provides easy access to information, travel planning remains a largely manual and time consuming process for travelers and travel service providers. The demands of a growing industry mean service providers must invest heavily in high-end technology and analytical capabilities.

Technology in Travel

The travel industry has evolved to the point where it’s typically service aggregators, not the airlines, hotels and other service providers, that offer the best deals. Travel aggregators will soon offer travelers one-stop shopping for a choice of carriers, hotels, insurance – while meeting other special needs, such as processing visa documents.

Each booking by a traveler leaves behind a trail of personal financial data. Aggregators capable of tracking this data can link it to travel choices calendars to offer consumers the most suitable choices, budgets and timeframe to travel. Travel aggregators can process a customer’s travel plan, while ensuring travelers are well prepared with the documentation required for each destination.

What Business Services Companies Can Expect

Business services companies must use technology to link automation solutions and the end-user experience to provide feedback to travel services firms. An environment in which a single change to the itinerary can have a snowballing effect presents new challenges that require business process management companies to re-design their service offerings.

For instance, a change in departure date is no longer a single data point change. Service providers and their staff need to be equipped to handle changes in transport, hotels, insurance and other components of the traveler’s plans. Service providers must use their knowledge services and automation processes to seamlessly link people and technology. Aggregators also must cope with increased customer interactions on mobile platforms, social media and other channels.

This opens up a world of opportunities for analytics, from simple traveler profiling to absolute disruption of the supply chain system of the travel sector:

  • Business services companies can intelligently assess traveler profiles to evaluate age groups, gender demographic, professional, personal background, type of travel, duration and destination. This enables the development of better travel solutions and packages.
  • Based on these solutions, business services companies will be able to deliver critical feedback on expected demand during a specific time period to transport companies, hotels and other impacted third parties.
  • Transport companies can use this data to make their schedules and offerings more cost effective. This sort of high value analysis generated from business services companies can also be used by crude oil suppliers to gain better insight into the demand and supply chain and make their systems more robust and efficient.

BPM providers must be cognizant of the important challenges of storing and accessing humungous amounts of personal and financial data, such as credit card information and calendar entries. This calls for a very robust security system and compliance to industry standards such as PCI to ensure the safety of customer information.

How can Concentrix empower the travel industry?

In this fast-evolving industry in which business models are constantly challenged and reinvented, service providers are required to be nimble, flexible and inventive. Concentrix recognizes how crucial it is to provide cost-effective, best-in-class customer service to retain existing customers and acquire new ones.

These needs are ingrained in the Concentrix DNA and our core principles – Velocity, Visibility and Value. Our strong operational capability and experience in this domain, along with expertise in multi-channel interactions, are critical to driving business outcomes such as:

  • High customer satisfaction rates coupled with unparalleled issue resolution.
  • Improved efficiency of transactions – lower customer call duration and higher number of tickets confirmed per hour

In addition, we have a proven ability to scale up operations in a quick and structured manner to accommodate peak seasonal travel requirements.

Case studies:

  • A leading global airline needed to meet peak load requirements while also ensuring high customer satisfaction by reducing the number of “customers not served.” Concentrix used intelligent analytics to perform a cause-and-effect analysis of the client’s ticketing tool and its products. We implemented a dynamic resource allocator and supported that with a flexible staffing option that resulted in significant savings and improvements in customer satisfaction.
  • Concentrix has also implemented a multi-channel solution integrating social media for a company promoting Ireland tourism. As a result, Concentrix widened the customer base, including a new type of customer – the internet savvy socializer.

We leverage our vast domain experience, expertise at business processes across multiple channels, delivery excellence, workforce management and transformational methodologies to develop a world class engagement center.

Source: https://www.concentrix.com/predictive-analytics-holds-the-key-to-anticipating-your-customers-travel-needs/

Publish Date: February 3, 2016 5:00 AM


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