The travel and transportation industry faces enormous challenges and opportunities as the global economy moves into a new information age that is connected and intelligent.
The amount of data, increasingly real time and near real time, that is bombarding businesses in this industry requires faster and more comprehensive data collection and analytics capabilities to support both current ways of doing business and future innovation.
Indeed, new technical, organizational, process, and decision management frameworks will be required to handle the four Vs of Big Data and analytics: value, volume, velocity, and variety.
IDC Manufacturing Insights defines travel and transportation as any industry segment that moves people or products; we do not include companies that manufacture transportation assets in this segment.
These companies are undergoing a fundamental shift from “product-related services” to “information-related services”: