Lessons in analytics from Expedia’s ‘fail-fast’ culture
In the highly competitive online travel sector, understanding what influences a transaction is essential to success. Expedia, which prides itself on being a data-driven organisation with a strong analytics culture, understands this only too well.
It has put in place the necessary infrastructure and resources to be able to unearth consumer insights, and chart the customer journey by user segment. The aim being: to reach travellers with the right message at the right time. According to AmeyaKarvir, director, analytics, Expedia, who is scheduled to speak at the forthcoming Smart Travel Analytics North America conference, slated to take place in New Yorker City (11-12 February), “analytics is embedded in the DNA of the business of Expedia. In fact, senior leadership is quite analytically driven”.
There is method in this approach. After all, data-driven marketing can lead to improved customer experiences and higher conversions as a result. However, while this looks great on paper, it requires an organisation to fully embrace analytics.
So what exactly does this mean? “Decisions, big and small, are consistently powered by sound analysis and data driven insights,” says Karvir. Expedia first focused its energy on marketing attribution and by 2009 “we had a flexible and scalable analytical platform that allowed our marketing organisations to test and simulate different attribution models to support marketing strategy”.