California-based technology marketing company Glogou Inc said it has launched a cloud-based big data solution designed to improve the accuracy of forecasting the effectiveness of tourist and digital marketing campaigns.
According to the firm, tourist forecasts are important for destination marketing and greater accuracy of these forecasts allows local governments and businesses to plan their operations better.
A closely related issue is to forecast the effectiveness of a marketing campaign. However, the forecast accuracy of tourists and marketing campaign effectiveness has not been high.
Glogou said that it is quite common that the forecast varies 40% or more off the actual numbers, which results in big losses to businesses in the travel, tourism and hospitality industries.
Empirical studies show that a 10% improvement in the accuracy of the forecast can increase the bottom line up to 30% for many businesses in the travel industry, the firm said.
Glogou applies big data technology to improve the accuracy of forecasts for tourist and marketing campaign effectiveness. The solution combines web crawling and big data business intelligence together with historical and economic models to create a better forecast. The solution also provides better ways to measure the actual effectiveness of a digital marketing campaign.
The firm said thatits solution will help convention visitor bureau and destination marketing organisation to better plan their digital, social media and mobile marketing campaigns. A 15% or greater forecast accuracy is easily achievable for most middle size CVBs using this method as compared to existing methods.
Find out more at www.glogou.com.