Mind Analytics creates the first technology platform for the travel industry that combines AI, Machine Learning and Big Data

April 2, 2020
Travel Tips

Mind Analytics, a Spanish start-up specialising in data analytics to optimise decision making in the tourism industry, has launched the first tool in the travel industry that combines AI, Machine Learning and Big Data, designed to improve the conversion of hotel distribution wholesalers. The Travel Intelligence Engine (Travel/ie) solution captures, processes and analyses data in real time and uses that knowledge to improve distribution, detect errors and behaviour patterns, in order to improve the distribution of available product inventory and adapt offers to your customers.

This is technology developed in Spain which combines the advantages of advanced descriptive analytics, artificial intelligence and automated learning. The combination of these three functionalities allows you to better understand the tourism market and give an immediate response, optimising conversion by up to 30%.

Thanks to the analysis of customers and supplier data in real time, Travel/ie is a powerful tool to optimise the management of products offered by wholesalers.  For example, it allows you to know the most requested destinations and dates, analyse the remaining rooms and, in turn, measure the infrastructure performance in detail or even detect integration and data mapping errors through an alarm system.

In this way, distributors can identify when a product is not being displayed correctly, detect a problem with a customer’s request for a reservation, even a failure in network performance, and act immediately to avoid losing revenue.

For Joaquin Orono, CEO of the company, “Decisions based on real data are key to addressing the challenges of the tourism industry. Up to now, this process of analysis and interpretation of the data offered by Travel Intelligence Engine was done manually, an inefficient practice in terms of resource consumption that also generates errors. Therefore, we wanted to develop a state-of-the-art technological product that was the lever that companies in the tourism industry needed to optimise their profitability.”

Mind Analytics has developed Travel/ie so wholesalers such as bed banks can manage large volumes of data. However, the data intelligence platform is expected to diversify to other segments of the travel industry such as hotels, travel agencies, car rental companies and airlines.

The implementation of Travel/ie is carried out in a short time frame and does not affect each distributor’s individual platform. Therefore, it integrates naturally with the system. First, the information relevant to the company is identified and a data collector is set up. Travel/ie obtains only the data necessary to optimise the business and does so in a non-invasive way, so that a panel adapted to the needs of the company is created.

To develop the integration, comparison and analysis of data, Travel/ie uses market leading technologies such as Google Cloud and Looker.

Our Source: https://www.traveldailynews.com/post/mind-analytics-creates-the-first-technology-platform-for-the-travel-industry-that-combines-ai-machine-learning-and-big-data