Turning big data into smart data: Travel Industry gets scope for growth

Turning big data into smart data: Travel Industry gets scope for growth

AFTA has signed a partnership with global research agency, GfK, to establish a new travel industry currency measurement, the first of its kind in Australia.

Under the partnership, GfK, one of the world’s leading market insights companies, will introduce the new reporting currency to the Australian travel industry for participating AFTA members.

Members will be requested to contribute to a weekly, consolidated, forward-booking measurement under the scheme.

Travelscan, one of GfK’s specialised solutions for the travel and hospitality industry, is based on consolidated and aggregated industry booking data and used by the travel industry to better predict market developments and to help businesses run more efficiently, AFTA stated.

“We’re delighted to be working with AFTA to introduce a new travel industry market currency to Australia”, GfK Australia, general manager, Gwenno Hopkin, said.

“The GfK Travelscan product is already established in Europe and is being rolled-out throughout APAC. It has become a ‘must-have’ business tool for travel retailers in those countries, and we are certain the Australian travel community will benefit from an aggregated read of outbound and domestic trends.”

AFTA ceo Jayson Westbury said the data would assist the travel agency community to maintain its stead across the country.

“As the travel agency community becomes more self-sufficient and less reliant on government in this industry regulated environment, important travel data will be key to help maintain and build good travel agents across Australia” Westbury said.

“AFTA believes it is imperative that we support travel agents in understanding their business better and this travel industry market currency has proven very powerful in other markets around the world. To be at the cutting edge and to really understand what the trends look like, travel agencies need data. Travelscan will deliver this perfectly.”

“I encourage all travel agency owners to get involved in this industry wide initiative and to be a part of sharing data with GfK, one of the most trusted sources of market and consumer information platforms in the world,” Westbury said.

Latest News