Velocity Frequent Flyer, the loyalty program for the Virgin Australia Group, has acquired data and analytics firm Torque Data.
Virgin Australia CEO John Borghetti said the acquisition is another step in the group’s mission to create one of the world’s leading loyalty programs.
“Torque Data is a leader in the data and analytics field, with clients across a number of different industries, including media, consumer goods, financial services, travel and telecommunications. Torque Data will enable the Virgin Australia Group to significantly expand its data analytics and campaign automation capabilities, supporting the accelerated growth of the Velocity business by enabling us to deliver more value to members and partners,” Borghetti said.
The acquisition will also provide revenue diversification opportunities for Velocity and the wider Virgin Australia group, through offering data analytics, campaign automation and consultancy services.
Founded in 2001, Torque Data delivers predictive analytics, intelligent campaign automation and data visualisation services to clients across a range of different industries. The company employs a team of skilled data modellers, analysts and campaign managers.
The move underlines the growing importance and data analytics in the travel industry, as Amadeus, a travel-focused software and technology provider, also launched its own business intelligence suite designed specifically for travel agencies.
In its first incarnation, Amadeus Agency Insight provides the opportunity to delve into customers travel intentions through analysing search data, and to benchmark their competitive position and monitor routine and airline trends, helping to inform sales and marketing strategies.