Analytics & Insights
Data-Driven Approach to the Best-Cost Strategy
Analytics & Insights
An average traveler starts researching before they even have a particular destination in mind. And it takes them about 15 weeks to make a final decision. Interestingly, in the era of flight aggregators and websites with massive hotel inventories, as consumers, we still tend to trust our own instincts and dig for better and cheaper options. This also means that online travel platforms have an opportunity to affect our final decision if their proposition is very attractive.
Working with numerous travel booking projects – and driving them to success – , we’ve ascertained the main metrics an OTA should use to stay competitive and make data-driven decisions.
Travel Decision-Makers Need Travel Insights Fast
Here’s How to Deliver.
Design a data model
Investigate data sources
Load needed data in star-like schema
Develop BI objects
Roll out the final product to end users
How analytics and insights help in Conversion
Travelers visit several websites before making a purchase. How many of your visitors become customers? The conversion rate is a dependable indication that they found a better deal elsewhere. In the travel industry, a few interpretations are used.
Visitor-to-Book : It’s the number of website visitors per reservations made. If this indicator is low, it may mean that you’re attracting a lot of unqualified leads. It won’t show you though if they bounced because of the rates or simply because your ad campaign was ineptly targeted.
Availability-to-Book : This is the number of availability requests per made reservations. This metric considers people who looked for dates that weren’t available.
Visitor-to-Look : It’s the number of website visitors per booking engine requests. A low rate may indicate that you need to improve how you display search results.
Look-to-Book : This is the number of booking engine requests per reservations. It’s the clearest indicator for justifying ROI. It’s also the most accurate for understanding how your pricing stacks up against the competition.