Data is playing an ever-increasing role in our everyday lives, and society as a whole. The recent scandal involving Facebook and Cambridge Analytica has once again highlighted to consumers just how important it is that they keep their personal data safe and secure. But even if we keep our own data secure, we inevitably have to entrust it to others at some point. And even if we don’t, any company that we do business with will have data of some kind on us.
Big data has begun to transform and reshape sectors within most industries and the airline industry is no exception. Big data has brought just as many benefits to this field as any other. We might not automatically think of airlines when we think of big data, but they are utilizing it just like everyone else.
Personalization is an important trend that has taken hold across virtually all industries. Put simply, consumers want to use products and services which are tailored to their individual needs. Personalization has always been a considerable challenge because of the simple fact that people are infinitely complex.
With big data however, it is possible to offer personalized experiences to users that are of an effectively infinite complexity. Some airlines now have the means to track customers’ flying habits in exquisite detail. Using this information, sophisticated algorithms are able to establish the best offers the airline can offer that will present value to the customer and profit to the airlines.
Airlines are in a constant battle with one another for airtime and other advertising space. This is one of those industries where all the big players are offering more or less the same thing. In fact, things don’t change a whole lot between the biggest and the smallest airlines. The advantage that bigger airlines have lies in the data they collect.
With access to more data, bigger airlines are able to target their marketing at very specific audiences and therefore get much more bang for their buck. When a business is able to efficiently target their marketing in this manner, they are able to score a significant advantage over their competitors.
Encouraging Better Security
A fantastic illustration of the pervasive and transformative role that data plays in our lives is this article by Secure Data about eDiscovery. This refers to the digital-age equivalent of the legal process of discovery.
Now that data is playing such a prominent role in the day to day functioning of large businesses like airlines, they now have a powerful incentive to invest in better security and keep that precious data safe. Anything that encourages corporations to take their custodianship of our data more seriously should be encouraged. While many of the ways that businesses use data ultimately benefits consumers as well, it is important that there is a level playing field.
Big data has been responsible for causing transformations in a number of different industries, and airlines are no exception. With the power of big data at their disposal, there is nothing that a modern business cannot accomplish.