PhoCusWright@ITB: Travel & The Semantic Web

What is the “Semantic Web?” It doesn’t exist…yet. But we’re at a point where technology and available content could enable it.

“The Semantic Web is not a separate Web but an extension of the current one, in which information is given well-defined meaning, better enabling computers and people to work in cooperation.” – Tim Berners-Lee

10 years ago, we would ask a friend or consult a guidebook for travel suggestions. 5 years ago, we began to get “Web 2.0″ with user-written web guides.

Now, as the amount of UGC explodes and there are millions of reviews, there is a new problem: understanding what is important in all that information. A hotel’s previously cohesive brand message has been fragmented by hundreds of different customer sentiments.

The Semantic Web draws intelligent conclusions from all the information. In the old web, content was king. With the Semantic Web, context is king. It’s a move from a data-centric view of the world to a knowledge-centric view of the world.

For example, TrustYou summarizes all UGC, and provides a one-line summary. (German example: hotels in Berlin)

The Semantic Web connects social media to revenue, customer satisfaction, and loyalty.