A recent Buying Business Travel article noted how big data has become the buzz word of the year. More important than buzz, however, are the important observations the author, Martin Cowen, makes on what the concept of data truly means to corporate travel agents and buyers. And, that is finding meaning from the data through analysis that’s relevant and can be acted upon in a way that matters.
In the words of Cowen (with which I couldn’t agree more), “For corporate travel agents and buyers, the need to action and execute on data is compelling.”
Whether data is big or small is of no importance. It’s all about the answers that data provides. Travel buyers and coordinators know the questions to ask and what to do with the answers to their questions. The challenge is receiving the answers to these questions. The data is available to identify:
- Policies that work
- Policies that could benefit from change
- And, policies that are being violated (and the travelers who are the repeat offenders)
Travel buyers and coordinators want to know where savings can be gained, preferred relationships can be enforced, and where policies and/or suppliers need to be changed. The answers are in the data and the questions are known. There are easy ways to expose the answers without having to know whether your data is big or small, or even anything at all about data analysis. Stay tuned for more from Oversight on how you can get to these answers quickly.