Connecting for Growth in Travel

LATEST THINKING

Travel companies need to increase their responsiveness and flexibility. By harnessing the power of digital and advanced analytics, travel companies can develop intelligent business functions that are dynamic and collaborative. This helps them connect with customers, improve the bottom line and seize new growth opportunities.

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Connected Operating Model

However, currently most data is not structured, making it difficult to share and synthesize. Travel companies must become digital and data-driven. Linking processes and information across functions helps businesses preempt issues and enhances their ability to capture value throughout the customer travel journey.

Current operating models and approaches hinder most travel businesses’ ability to deliver engaging experiences. For example, data are key to understanding customers and delivering personalized experiences. However, currently most data is not structured, making it difficult to share and synthesize. Travel companies must become digital and data-driven. Linking processes and information across functions helps businesses preempt issues and enhances their ability to capture value throughout the customer travel journey.

Connected Workforce

Artificial intelligence, robotics and other new technologies allow travel companies to make insight-led decisions and react faster. Beyond new technology’s impact, human roles are changing.

The traditional workforce will become more fluid, incorporating adaptive workers hired through online labor platforms, for example, so companies can supplement employees as needed. Airline, cruise line and hotel leaders should shape a culture that encourages employees to have meaningful interactions with customers, making tailored experiences wonderfully person-to-person.

Artificial intelligence, robotics and other new technologies allow travel companies to make insight-led decisions and react faster. Beyond new technology’s impact, human roles are changing. The traditional workforce will become more fluid, incorporating adaptive workers hired through online labor platforms, for example, so companies can supplement employees as needed. Airline, cruise line and hotel leaders should shape a culture that encourages employees to have meaningful interactions with customers, making tailored experiences wonderfully person-to-person.

Connected Ecosystem

A brand’s product or service is rarely viewed today in isolation. Now, customers assess the end-to-end travel experience—even aspects beyond a business’s direct control.

To survive in the new, travel companies must determine what role they will play and how they can add value to the ecosystem. With the help of ecosystem collaborators, travel industry companies can offer a broader array of services and capabilities. They can also team with another company for capabilities that are not their core strength or an important differentiator. Accenture research indicates that almost 40 percent of airline executives view platform-basedmodels and ecosystem engagement as “critical” to the success of their business.

A brand’s product or service is rarely viewed today in isolation. Now, customers assess the end-to-end travel experience—even aspects beyond a business’s direct control. To survive in the new, travel companies must determine what role they will play and how they can add value to the ecosystem. With the help of ecosystem collaborators, travel industry companies can offer a broader array of services and capabilities. They can also team with another company for capabilities that are not their core strength or an important differentiator. Accenture research indicates that almost 40 percent of airline executives view platform-basedmodels and ecosystem engagement as “critical” to the success of their business.

ACCENTURE RESEARCH INDICATES THAT ALMOST 40 PERCENT OF AIRLINE EXECUTIVES VIEW PLATFORM-BASED MODELS AND ECOSYSTEM ENGAGEMENT AS "CRITICAL" TO THE SUCCESS OF THEIR BUSINESS.