Are you planning a trip? Which route will you follow? It is likely that you will do some research before you decide. You’ll compare this trip to the previous one and see how you’ve made it to your destination, ask your friends about their experience, and consider unexpected things like roadworks or major incidents. In fact, it is a practical analysis of the data to get you to your destination.
It is also an essential step in travel management.
Travel management companies ensure that companies have relevant data, such as trips made, average fares paid and the most popular cities.
Nowadays, managers can get data on everything their business has done in the past, and travel managers can use real-time data for future decision-making. As a result, business planners can use predictive data and leverage external resources to make travel policy decisions.
This is the philosophy of data-driven companies, and has become a common practice for many organizations, especially fast-growing companies.
A recent Accenture report on data-driven enterprises indicates that organizations that “maximize the value of data treat them as different assets. This means that they rely on data to make important decisions through high quality analysis. “
In the past, services worked with information silos. They tracked their data in their own way, for specific purposes, and combined only the main data. Being data-driven means “cultivating a way of thinking across the fabric of the business to continually use analytics to make business decisions based on facts. The goal is to reach a stage where the use of data and analysis by executives and employees becomes a natural part of their day-to-day processes. “
Today, travel managers can use tools that combine business-specific data with events that may occur in the enterprise market, whether in the industry or region where it operates.
Data visualization tools help perform data analysis and can be grouped together to form recommendations in an easy-to-understand representation for senior management, other internal stakeholders and the traveler.
A data-driven company allows the business travel planner to get a lot of useful data from other departments.
For example, many travel procurement strategies are based on past behavior. While Hong Kong, Frankfurt and Melbourne were the top business travel destinations last year, the travel manager may predict that this will probably also be the case when forecasting next year’s travel volume. However, access to data from members of the marketing team could reveal that they are planning a campaign to focus on Southeast Asia, while sales team data could indicate that this is happening. will do this in cooperation with potential prospects in Singapore and Kuala Lumpur. All of this is likely to create a sudden surge in demand for travel along these routes.
Other services can also draw a lot of useful information from travel data.
For example, human resources can examine how many hours employees work each week. In the past, they could measure the time worked in days that were not taken as sick days or annual holidays. But a day trip (you have to go to London Heathrow airport to catch a flight to Frankfurt at 7 am, then you have meetings from 9 am to 5 pm and you go back to the airport to catch your flight. return at 7:30 pm) does it contain the same number of hours worked as a day in the office? In this case, business travel data can be very useful for human resources in developing a traveler welfare policy.
This is beneficial for everyone: data can be useful for travel, and other services can take advantage of travel data.
A good business travel partnership can help high-growth businesses do more than just help travelers get from point A to point B.
Would you like to know more about the place of travel data in companies experiencing strong growth? Download our white paper today.