Managing the smart revolution in tourism firms : innovation and value creation in the era of data

Smart Technologies are revolutionizing tourism, as they promise to change the way tourists behave and how companies interact with them and generate profits. The increasing availability of real-time data in combination with advanced machine learning techniques, artificial intelligence, and business analytics, to name but a few, will transform the tourism industry forever and in unthinkable ways. The degree of sophistication achieved by Smart Technologies and the speed with which transformations are taking place means that those people lacking a relevant digital background may lag behind, therefore being unable to take advantage of the opportunities offered by the data economy and fully benefit from its applications. This practical book explains the key ideas that tourism practitioners and decision-makers must know to understand Smart Technologies, and the management principles supporting them. The contents: Include real-life cases to illustrate to the reader the true dimension of the "smart" phenomenon and the new frontiers that are yet to open in the coming years Bring together the knowledge and experience of leading experts from academia, the tourism sector, and technology companies, who reveal in a unified way the fundamental points your organization must consider in the path towards being smarter Create a practical knowledge tool that allows getting the most out of Smart Technologies, its products, and future trends, while learning how to make them a competitive tool, and avoid being left behind Features full color figures and photographs The book will be a vital resource for Tourism practitioners, strategic planners, and policy makers as well as students of tourism marketing, management, and technology. Cover Managing the Smart Revolution in Tourism FirmsInnovation and Value Creation in the Era of Data Copyright Contents Foreword Acknowledgements Introduction 1 A Call to Action 2 The Need for This Book 3 Who Should Read This Book For Owners and Managers For Instructors For Students 4 How to Use This Book Part 1 Introduction to Smart Firms 5 Fundamentals of the Smart Firm 5.1 The Origins of Smart Tourism Phase 1: Traditional tourism Phase 2: e-Tourism Phase 3: Digital tourism Phase 4: Smart tourism 5.2 Definition of Smart Tourism 5.3 What Is Smart Tourism For? For tourists For owners and managers 5.4 Components of Smart Tourism 5.5 Impact of Smart Tourism Impacts on tourism firms Impacts on the tourist 5.6 Criticism of Smart Tourism e-Lienation Discussion Questions 6 Smartization and Digital Transformation 6.1 Defining Digital Transformation 6.2 Essentials of Digital Transformation 6.3 Digitization, Digitalization, and Digital Transformation Digitization Digitalization Digital transformation 6.4 Components of Digital Transformation 6.5 Benefits of Digital Transformation Interaction costs Information and value exchange Massive amounts of data Internationalization Irreversibility 6.6 Challenges of Digital Transformation Customer experience Processes and business models Legacy systems Change management Commitment to transform Skilled labor Infrastructure Financing Discussion Questions 7 Tourism and Digitalization 7.1 What Makes Tourism Unique? 7.2 The State of Digitalization in Tourism 7.3 Drivers of Digitalization in Tourism Consumer demand Benefits perceived by firms Personalization of experiences Disruptive innovations State intervention Safety and security 7.4 Opportunities of Digitalization 7.5 Challenges to the Digitalization of Tourism Firms Discussion Questions 8 Towards the Data-Driven Organization 8.1 The Value of Data 8.2 Fundamentals of Data-Driven Organizations 8.3 Key Elements of the Data-Driven Organization Digital transformation and data-driven culture Data science and analytics Data-driven business model Data-driven innovation 8.4 Benefits 8.5 Challenges and Enablers Challenges Enablers Discussion Questions Part 2 Smart Technologies 9 Understanding Data 9.1 Sources of Data Structured data Non-structured data User-generated content (UGC) Device-generated data (DGD) Web search and transaction data 9.2 Data Analytics 9.3 Business Intelligence 9.4 Data Vocabulary Data Economy Data science Data scientist Data mining Machine learning Discussion Questions 10 Big Data 10.1 Concept of Big Data 10.2 Big Data Technologies 10.3 Impacts and Opportunities Managerial practices Organization Employees Real time decision-making Analytical performance 10.4 Big Data Applications Consumer applications Organizational applications Industry applications 10.5 Challenges Technical challenges Management challenges Financial and business challenges Regulatory and security challenges Socio-ethical challenges Discussion Questions 11 Data Analytics 11.1 The Data Analytics Workflow 11.2 Methods and Technologies Data source level Integration and presentation level Analysis level Machine learning Deep learning Sentiment analysis Visualization level 11.3 Social Media Analytics Social media data User-generated content (UGC) Device-generated content (DGC) Transactional data SMA methods Applications 11.4 Big Data, Artificial Intelligence, and Analytics 11.5 Implementation Challenges Leadership and direction The need for agility Implementation 11.6 Benefits Discussion Questions 12 Artificial Intelligence 12.1 Types of Artificial Intelligence 12.2 General Applications 12.3 Applications in Tourism Big Data and AI Sentiment analysis in online reviews Personalized recommendation systems Demand forecasting Cancellations forecasting Monitor price changes Image recognition 12.4 Service Encounters and AI 12.5 Challenges of Artificial Intelligence 12.6 The Future Role of Humans Discussion Questions 13 Internet of Things 13.1 Concept of IoT IoT vs IoE 13.2 How is the IoT Inside? 13.3 IoT Data and Processes 13.4 Creating Value from IoT 13.5 IoT Technologies IoT hardware IoT software IoT communications 13.6 IoT Applications Consumer IoT Industrial IoT 13.7 Challenges of IoT IoT Big Data Privacy and trust Security Regulation Business models Discussion Questions 14 Cybersecurity 14.1 Cybersecurity in Tourism 14.2 Types of Cyber-Attacks Malware attacks Point-of-Sale attacks Ransomware attacks Botnet/Distributed Denial of Service attacks Wi-Fi/website compromise Cognitive hacks 14.3 Cybersecurity in SMEs 14.4 Key Challenges in Cybersecurity What matters most? Risk management frameworks Security of data and IoT Hackers’ behavior Insiders 14.5 Success Factors People Processes Technologies 14.6 The Future of Cybersecurity Discussion Questions 15 Enabling Technologies 15.1 Mobile Applications Mobile apps and the consumer Mobile applications and tourism firms Trends related to mobile applications The risks of mobile applications 15.2 RAISA Technologies RAISA in tourism RAISA technologies Adoption of RAISA Impact on business processes Operations Management of human resources Marketing Financial management 15.3 Augmented and Virtual Reality Key elements of Virtual Reality Key elements of Augmented Reality AR/VR applications Marketing Meetings, Incentives, Conferences, and Exhibitions Gamification in museums and attractions Mobile AR tour guides Challenges of AR/VR 15.4 Blockchain How it works Applications Cryptocurrencies Smart contracts IoT DApps Airlines Hospitality Restaurants Benefits Challenges Discussion Questions Part 3 Smart Management Practices 16 Introduction to Smart Management 16.1 Transformation and Value Creation Dynamic capabilities Ambidexterity 16.2 Value Creation Challenges for value creation Challenges for value delivery Challenges for capturing value 16.3 Creating a Transformation Strategy Value offerings Value networks Distribution channels Business models Organizational agility 16.4 Smart Decision-Making Decision-making process Decision-making capabilities 16.5 Knowledge Management 16.6 Recommendations Discussion Questions 17 Managing Transformative Change 17.1 Changes in the Organizational Structure 17.2 Changes in Strategy 17.3 Changes in People 17.4 Changes in Business Models 17.5 Barriers to Transformation 17.6 The Role of Government Discussion Questions 18 Organizational Agility 18.1 What Is Organizational Agility? 18.2 Strategic, Functional, and Operational Agility Strategic agility Functional agility Operational agility 18.3 Practices and Methodologies Agile methodologies 18.4 Knowledge, Teams, and Leadership 18.5 Customer Agility Discussion Questions 19 Data-Driven Agility 19.1 Agile in Big Data 19.2 Agile Analytics 19.3 Agile Practices for Data-Driven Projects Incremental and iterative development Collaboration and self-management Interactions between individuals Early and continuous testing Speed of data analysis Response to change Collaboration and communication Continuous Delivery Continuous review and improvement 19.4 Agile Data-Driven Framework 19.5 Challenges of Data-Driven Agility Discussion Questions 20 Smart Leadership 20.1 Leaders and Smartization 20.2 New Leadership Profiles 20.3 Smart Leaders’ Skills Communication and interpersonal skills Transformational awareness 20.4 Benefits of Smart Leadership 20.5 Smart Leaders and SMEs 20.6 Agile Leaders Discussion Questions 21 Open Innovation 21.1 What Is Open Innovation? 21.2 Drivers of Open Innovation Big Data and open innovation Knowledge management The role of stakeholders 21.3 Challenges of Open Innovation 21.4 Agility and Open Innovation 21.5 Tips for Implementing Open Innovation Organizing for open innovation Discussion Questions Part 4 What’s Next? 22 Smart Transformation Framework 22.1 Components of the Smart Transformation Framework Strategy Organization Culture Technology and data Customer and value People 22.2 Getting Started with Smart Transformation Understand the problem Diagnose the situation Define and prioritize strategies Execute plan 22.3 The Role of Platforms 22.4 Smart Transformation in SMEs Economic and financial Organizational and cultural Competencies and resources Legal Technical Implementation process Discussion Questions 23 The Future of Smartization 23.1 BDAI “as-a-Service” How it works Benefits 23.2 Ethics Ethics and employees Ethics and performance Ethics and stakeholders 23.3 Cognitive Computing How it works Applications Challenges 23.4 Quantum Computing How it works Applications Machine Learning Robotics Quantum cloud Social networks Quantum simulators Quantum cryptography Challenges 23.5 Connected and Autonomous Vehicles Applications Benefits Challenges Discussion Questions References Index Back Cover Smart technologies are revolutionizing tourism, as they are having a profound impact on the way tourists behave and on how firms interact with them and create value. The increasing availability of real-time Big Data and the advances made in data analytics techniques, artificial intelligence, and loT, has begun to transform tourism organizations in ways not previously considered, and in a lasting manner. The degree of sophistication achieved and the speed with which this so-called Smart Revolution is taking place means that tourism practitioners lacking a relevant digital and data-focused background are at risk of being left behind and unable to take advantage of the opportunities offered to create sustainable competitive advantages. This book delivers the latest and most relevant advances in the field of smart tranformation and the management practices that can be put into practice to continue creating value in the years to come. Divided into four main parts and 23 chapters, it highlights the challenges that the Smart Revolution brings to tourism firms by providing updated knowledge on the literature, research, and experiences of the author. The book will also provide a guide for action to business leaders and those approaching the fundamentals of the Smart Revolution for the first time. It will also serve as a valuable text for undergraduate and graduate students on specialized courses in tourism, technology, and business transformation