target audience: TECH BUYER Publication date: Jul 2022 - Document type: IDC PlanScape - Doc Document number: # US47778022
IDC PlanScape: Customer Data Platforms for Hospitality and Travel
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Abstract
This IDC PlanScape provides a road map for hospitality and travel organizations considering CDP investments. It breaks down what is driving interest in CDP in hospitality and travel organizations and describes what differentiates CDP from other systems within hospitality technology stacks. The document also identifies what roles (who) should be involved in ensuring CDP strategies are well formulated and effective and how CDP rollouts should be measured against the ability to produce results — namely helping organizations respond and react to customers in real time in personalized and contextualized ways.
"Guest expectations to be recognized and receive personalized service are reaching a fever pitch at a time when guests are utilizing more channels for ordering and interacting with brands. Consumers are aware of the importance of their personal information and the value it holds for brands; therefore, they are conscious of where and how they share data, while expecting improved experiences in exchange. From the perspective of hospitality and travel brands, they want to improve guest satisfaction and drive customer lifetime value (CLV)," said Dorothy Creamer, research manager, Hospitality and Travel Digital Transformation Strategies. "Hospitality and travel organizations are rethinking legacy data strategies as dining, hospitality, and travel experiences have become more immersive, frictionless, and personalized due to guest demand. As brands seek to improve CLV, understanding and engaging with guests in appropriate, meaningful ways will be more important, but it will require data to be accessible across the organization without silos. The ability to analyze all components of customer data will present the opportunity for brands to have a complete picture of guests while adhering to privacy and security standards and being able to deliver the right message, at the right time, on the right channel/device."