2015 will be year to break down silos and get data and analytics working across your enterprise to improve the customer experience and drive loyalty

As data and analytics begin to come of age, what’s going to be the single biggest issue facing travel brands this year?

In interviews and research with airlines, online travel agents, metasearch engines, hotels and industry experts, it's unsurprising that a number of themes emerge. But the one that seemed stuck on the record is this: in a world where data and analytics is seeping into social media, customer engagement, loyalty management, mobile, marketing, operations, RM and so on, how should travel brands organise and manage their cross-functional efforts? Yes, we’re talking breaking down silos so that data can be leveraged across the enterprise for bottom line benefits.

While nobody is getting it right yet, many are seeing the end game. And in 2015, nimble organisations that centralise data silos into actionable enterprise intelligence stores and deliver results to customers will beat the competition. Among the things brands should be focusing on are:

• Ensuring easy access to transformed data
• Intelligent use of customer transactional/behavioural data to deliver relevant offerings and drive consumer spend
• A focus on loyalty and customer retention on all controllable digital channels

Chris Amenechi VP RM Porter Airlines believes that with the current positive economic shifts in the US, some organisations should be able “to leverage their enterprise intelligence stores to drive one to three per cent improvements in topline revenues, beyond any natural impacts from industry supply or GDP changes”.

Taking that a step further, successful ROI initiatives should bring the industry one step closer toward putting an enterprise customer-centric philosophy into practice across all parts of the business.

The real value only happens when you break down silos

However, to succeed, brands will need commitment from senior management. But in the experience of Anil Kaul, chief executive of Absolutdata, many firms are still doing data and analytics reluctantly. “When an organisation only does the minimum, they won’t get value out of it,” he says, adding that, “the real value only happens when you break down silos”.  

At metasearch engine, Skyscanner, whose management team lives and breathes data, Ewan Nicolson says the most important thing is to “keep an open mind and to be willing to respond quickly”.

Meanwhile Scott Pusillo VP Sales & Revenue Management at Viceroy, a mid-sized hotel chain, suggests creating a base line that allows you to map and make sense of data whether your gut agrees with it or not. He may head up RM at a hotel but that seems sound advice for any organisation.

Speaking about business challenges today Paul Hoffmann, the founder, president and chief executive of e-Commission Solutions says the big issue today is separating the true ‘signal’ from all the noise. And you can only do that if you understand your business objectives and what data you need to reach those.

“Regardless of how basic or fundamental it is, by managing, measuring and understanding the numbers, data and associated metrics, you can't go wrong,” he says.           

Get it right and you will see benefits – increased customer satisfaction, an uptick in bookings and greater loyalty.

You still have time, but not much! Book one of the last remaining places at Smart Travel Analytics, North America which takes place next week in New York.