The tourism industry is increasingly responding to new developments in technology that enable huge volumes of data to be analysed to predict future activities.
Blue Yonder, an SaaS provider of Predictive Applications, has teamed up with Thomas Cook to provide the integration of Predictive Analytics into business processes in Germany, allowing the operator to offer customers bespoke services.
Predictive Applications automate decisions based on current and historical data in real-time to make processes more efficient. This means the accuracy of demand forecasts are permanently optimised with the aid of artificial intelligence and machine learning algorithms.
Predictive Analytics can also analyse complex relationships in order to draw conclusions about future customer behaviour. This takes into account both internal and external data sources.
Christian Lang, the operator’s head of business intelligence central Europe, said: "The continuing digitisation of our economy and consequent changes in customer behaviour require new business models and processes. Blue Yonder is helping us to overcome these challenges. It is more important than ever to keep a long-term view of market shares in the growing global competitive marketplace.”