The data and information the travel industry is using to create new travel products is changing fast. In a recent survey for the Product development in Travel Report it was found that a whole range of new data sources were regarded as far more useful than traditional industry data.

The data and information the travel industry is using to create new travel products is changing fast. In a recent survey for the Product development in Travel Report it was found that a whole range of new data sources were regarded as far more useful than traditional industry data.

Whilst Google analytics led the field as a useful data source 64% of responders also stated social media is a vital source of information during product development. Interestingly the use of the larger social networks such as Facebook and Twitter are rated as poor sources of data and are in fact the lowest ranked of those sources investigated. This suggested niche networks work better. Sources such as WTTC, UNWTO and GDS are the least used sources across the sectors.

One of the most highly rated sources were web analytics, Google, market studies and industry databases. The ability for the analytics tool to allow you to assess the strength of demand for new products in new markets in vital.

However as always its in house data that is the most useful. Location based data has led to some interesting developments. Mobile, location aware hotel booking services recently reported that when bookings were made by customers for the same day the hotels were usually less than 2 miles away from where the customer made his booking. Once you know where someone is and where they are staying you can provide highly targeted offers for nearby restaurants and attractions.

The research is from the report “Product Development in travel.” It will be given to all attendees of the Product Development Strategies for the Travel Industry Conference taking place this November 3-4 in London, the week before WTM.

The event will see product developers, route planers, and commercial directors form the world major airlines hotels and travel intermediaries meet to debate how to use data to create long lived high value travel products. Full agenda is here: http://events.eyefortravel.com/profitable-product-development/index.asp

To find out more about the report go here: http://events.eyefortravel.com/profitable-product-development-report/ind...