Barcelona, May 25, 2020.- Mind Analytics, a Spanish start-up specialized in data analysis to optimize decision making in the tourism industry, has closed the 2019 financial year with a turnover close to 1.1 million Euros, which means an increase of 6% over the previous year.
Mind Analytics also increased its EBITDA by 285%. Thus, it has achieved 13% of its revenues thanks to the good results of the investment in the Travel Intelligence Engine, the first tool in the tourism sector that combines AI, Machine Learning and Big Data, designed to improve the conversion of hotel distribution wholesalers.
This is a technology developed in Spain, which combines the advantages of advanced descriptive analytics, artificial intelligence and automated learning. The combination of these three functionalities allows to obtain a better knowledge of the tourism market and to give an immediate response, optimizing the conversion up to 30%.
For Joaquín Oroño, the company’s CEO, “All crises bring opportunities and in this case, the drop in demand allowed us to accelerate in key parts of our platform to advance in our mission to digitize the tourism sector. We are close to launching our product for hotels that will allow the hospitality sector to accelerate its digital transformation and have a better and clearer knowledge of the client in order to offer them what they need at any given time”.
Therefore, the Barcelona start-up has excellent forecasts. Despite the Covid-19 crisis, its forecast is to double its EBITDA by 2020.
About Mind Analytics
Mind Analytics is a Spanish company founded in 2013 with offices in Barcelona and Majorca. Specializing in data-based technology to improve decision making, the company offers advice and solutions to obtain valuable knowledge from data. The company’s value proposition is based on delivering innovative, reliable and scalable technology that enables organizations to improve their corporate performance and make the leap to digital transformation.
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