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Syndicated Data

2 mins

What’s Syndicated Data #

Syndicated data refers to data that is collected and aggregated from multiple sources. This data is typically industry specific and includes data points such as market trends and consumer behavior. The opposite of syndicated data, is proprietary data, which refers to data that is collected, owned, and used exclusively by a single organization or company.

Examples of Syndicated Data #

As I work in the travel industry, here are examples of syndicated data that are used by hoteliers:

  1. Market Data: Information on travel and tourism trends, changing consumer travel preferences, and general economic market dynamics. This includes data on popular travel destinations, travel book patterns, hotel occupancy and room rate trends, unemployment rates, etc.

  2. Competitive Data: Information surrounding the performance of competitors in the industry. This can include data on market share(i.e. Smith Travel Research), customer satisfaction ratings (i.e. online social review scores and internal surveying), brand reputations, online travel agency search rankings, and more. This data helps hoteliers benchmark their performance against others to better understanding areas of improvement.

  3. Destination Data: Information on specific travel destinations such as tourist arrivals, attractions, and local event dates. This data helps hoteliers understand the demand for specific geographic areas. One particularly neat example of this is anonymized mobile location data that tracks where people are traveling in a given country or area. Knowing where demand is greatest gives you more pricing power.

  4. Consumer Behavior Data: This information can include data on travel booking channels, consumer travel planning behaviors, spending patterns, and general demographic details. This helps hoteliers better understand their consumer needs and preferences so that marketing efforts can be better tailored to them.

Why is Syndicated Data Important? #

Leveraging syndicated data allows you to gain more insight into market trends, the competitive landscape, consumer behaviors, and destination specific information. All of which can be used to strengthen decision making processes to grow market share and provide better customer conversion and experience.

In the travel industry, syndicated data gives hoteliers crucial information to forecast demand, which is used to set future pricing. Competitor data tracking helps verify that pricing is correctly set to maximize occupancy and room rates.