Measuring Economic Values in the Experience Industry through Big Data
The time has come for the visitor industry to build a joint ecosystem to strengthen its competitiveness by gathering and analyzing customer data.
Project Tourism Agenda’s objective is to research and develop a tool to anticipate trends and customer needs, with the help of big data and customer transaction mapping, in order to gain knowledge and insights into investing in the development of sustainable experiences. To redefine the commercial ecosystem and go from insight-based business to statistics-based in big data and transactions is a game changer for the experience industry.
Gothenburg & Co is the lead customer in the Tourism Agenda project and has been an early thought leader in developing a concept called Destination’s Data Platform (DDP). Within the Tourism Agenda project, and with the support of the developed insight tool several business cases will be tested from a destination marketing perspective of Gothenburg & Co, arena & concerts events of Got Event and sports events such as the recreational bike race Vätternrundan.
After the pandemic, the industry faces new challenges. The world around us is changing and we need to know quickly and easily how society and the industry are affected. To help visitors do the right thing, we need to understand how they think. By creating a joint ecosystem for data, it will be easier for the industry to get a complete picture of visitors, both before, during and after their visit. How do they think before their visit, and how do they plan, book and share their experience? Where do they stay when they are at the destination? Where do they eat? Which activities do they do?
By increasing knowledge about the visitor, experience industry businesses can learn from historical data, interact with visitors using real-time data, and get a glimpse into the future by using machine learning, big data and predictive analyses.
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Header photo: Göteborg & Co