By 2022, the global travel industry is expected to grow to ten percent of the global GDP or a yearly revenue of around $10 trillion. With lifestyles becoming crazier and high-paced by the day, what every single individual looks forward to is a lavish break once a year and a quick get-away on weekends. With high disposable incomes and rising standards of living, more and more people resort to travel to bust stress! Now, doesn’t that explain the growth projection?
Talking about travel, there is a drastic shift in consumer behaviour from what it was a few years back. As a traveller today, I have a zillion options ranging from individual transport service providers to comparison portals that throw up a ready-to-refer comparison of all the options in hand. Seemingly, ages have passed by between people patiently waiting in long queues for hours together to book a train ticket and people being cranky for having to wait for few minutes to book a ticket online in the comfort of their beds.
Today, we as travellers, we expect multiple options to magically appear on the screen in just a click. Not only that, we even expect the computer to pick and choose the best suited option as well. And in the current scenario, it is not unrealistic. Umpteen travel start-ups are cashing in on this sentiment. Top players like MakeMyTrip, AirBnb, RedBus, Booking.com, Trivago, Thrilophilia and many more are fighting it out to tempt their audiences with more advanced features – so much that these players have already disrupted the travel industry. The question is, what has made this disruption possible in just few years?
Needless to say, technology has played a pivotal role in making such wonders happen. The travel industry generates vast amount of data around reservations, enquiries, hotels, rental cars, trains, airlines, homestays and even reviews. A traveller leaves behind a large quantity of data on multiple channels and devices at various stages of their travel. For e.g. today when I book a ticket to Mumbai, the portal that I am surfing through collects all the data related to my search.
So, what do they do with all this data? Not only do organisations need to process such heaps of data, but also process it at very high speeds. Latency is the biggest challenge today. In today’s world of digitization, with millions of people logging on to portals through desktops, laptops, tablets and mobiles, snags and delay in response time are bound to occur. And, we are in the age where nobody wants to wait and people want quick fixes to all the problems that possibly exist. And from the organisations’ perspective everybody is competing to be ahead of the curve.
In the given current scenario, it is important that the data generated from different sources and actions is processed wisely. For travel portals and start-ups, the need of the hour is the ability to fast-process the data they collect and store. This is where technologies like flash can help. Flash is built to accelerate and future-proof data by simplifying storage infrastructure and business operations. All-flash storage systems will offer the speed, scalability and responsiveness needed to quickly extract value from data. Flash will cut down processes that would normally take hours to run to minutes, giving decision makers far better access to information. They would not only accelerate performance by up to 3X, but also reduce costs by 60% to 70%, with additional savings in space.
Flash is the same technology that revolutionised IRCTC (Indian Railway Catering and Tourism Corporation). With Flash enabled storage, IRCTC could process as many as 65K tickets in an hour as opposed to 40K before being flash-enabled.
The right technology coupled with measured approaches to manage critical, real time and mobile data will help burgeoning as well as successful travel start-ups lead than react. Companies are starting to realise the same and hence, we see them investing in data storage and analytics services to leverage this big data and provide their customers more targeted solutions which ultimately lead to profitability. Easier said than done, churning out information out of all the data that gets collected is not a commoner’s game.
More and more travel portals and solution providers are adopting flash with an aim to not only slash down their response time but to ultimately provide their customers with a seamless travel experience. Today, when I book a ticket to Mumbai through a specific portal, along with all the collated list of airline services to Mumbai and prices, I also get a list of hotels that I may consider to stay in – that too in the order of their ratings. This is what Flash is capable of – redefining the way you and I travel.
[Disclaimer: The views expressed in this article are solely those of the authors and do not necessarily represent or reflect the views of Trivone Media Network’s or that of CXOToday’s.]