Final answer:
TRIPBAM employs data monetization by analyzing booking data to save clients money and by providing market insights. Their unique algorithms and continuous price monitoring set them apart, and while their model is sustainable, it could be imitated with substantial investment.
Step-by-step explanation:
TRIPBAM’s data monetization strategies involve leveraging the large amount of data they collect from hotel bookings to provide value to various stakeholders in the hotel booking industry. They analyze this data to help clients save money by finding better deals even after a booking has been made, earning a share of the savings. Additionally, they provide market insights and competitive benchmarking services to hotels and travel management companies.
The uniqueness of their strategies lies in the proprietary algorithms and the continuous shopping mechanism they use, which are not common in the traditional hotel booking industry. For example, TRIPBAM’s system continuously searches for price drops on booked hotel rooms and rebooks at the lower rate if it finds one, optimizing cost savings for clients.
In terms of sustainability, TRIPBAM has a competitive edge due to their unique technology and customer-focused approach. However, competitors could potentially imitate aspects of their service, but this would require significant investment in technology and data analytics capabilities.