LEVERAGING BIG DATA!

Transcription

1 LEVERAGING BIG DATA! FOR BETTER BETTER DECISION MAKING Dr. Mathew McDougall Founder & CEO, Digital Jungle

2 BIG DATA : BIG POSSIBLITIES Deeper knowledge; greater insights; risk-free product development Sounds good so far! Social Media mining and data analysis offers us a new paradigm for understanding our travelers. WARNING: Big Data offers huge opportunity; but without understanding the data, interpretations & decisions maybe made that have unexpected outcomes.

3 HOW DOES IT IMPACT TOURISM? With the right approach, the tourism industry can learn a lot about consumer preferences and use this information and insight to build connections with individual travelers. Being able to offer travelers the right service or product at the right time is crucial. Without the right information and a very good targeting approach, advertising will perform poorly and there will be ineffective ROI. Travel is such a fast-paced industry, which really drives the need for speedy data analytics and quick decisions. In tourism, any demands need to be addressed instantly in order to still be relevant for travelers, which makes big data so important.

4 WHAT IS BIG DATA? Through every traveler, big amounts of data are available about anything that is relevant within the holiday stages: prior, during and after. Most of this data is of an external nature, for example, in the form of Twitter or other social networking feeds. Due to the large amounts of data available being stored in the cloud, analytics are needed in order to make sense of the information within the data.

5 THE BIG IDEA Articles Contain Phrases Found in! Sentences

6 NATURAL LANGUAGE PROCESSING I m inspired by the idea of machines learning from experience. NLP is important for finding valuable information in noisy unstructured text.

7 What about this NLP stuff?

8 TOPICS AND CONTENT Once you can understand what is being discussed online you can make decisions about embedding new narratives or amplifying the existing topics.

9 COMMUNITY VISULISATION Visually mapping the community engagement and relationships provides ways to see into the social data and further develop the social media program for effect.

10 LOCATION AND POSITION The geo-location of the discussions provide valuable information on spacial locations of the online social activity. Meaning, we can map the discourse between 1:1 or 1:many and this can be used to understand the community element of the online discussions.

11 SENTIMENT Another interesting element to the NLP analysis is the ability to derive sentiment from the online discussions. This allows the team to develop content and messages to support the aims of the content programs.

12 PERSONAS & ARCHETYPES

13 PARTING THOUGHTS PREDICTING NEW PRODUCTS Growth in a few key destinations is skyrocketing; brands are looking to replicate this success in a new product. Thanks to Big Data analysis, companies are able to recognise patterns in emerging travel habits and respond within a single season with new offerings which tap into this demand. UNDERSTAND YOUR TRAVELERS Understanding the is critical to developing your branding messages, communication plans and what factors drive their purchase behaviours. IDEAS FOR BIG DATA ARE EXPANDING It cannot be over stated about the impact of big data on all aspects of travel and tourism. As technologies evolve and devices become more ubiquitous in their connectivenes the output of data will only add to more complete picture of travellers thoughts, perceptions, intent and motivation. Predictive analysis will become more accurate and leveraged for aspects of planning and marketing.

14 Thanks for listening to my talk! Please look me up on Twitter and LinkedIn! Twitter: LinkedIn: cn.linkedin.com/in/drmathewmcdougall/

15 BEIJING SHANGHAI SYDNEY AUCKLAND