Today, through modern technologies, consumers have access to more travel information than ever before. The options to do anything or go anywhere at different comfort levels and price-points are unlimited.
Everyone from ordinary citizens to corporate decision makers are bombarded with an overload of information, which can leave them overwhelmed.
Screening through the huge amount of data to get accurate information and the best deals available is impossible, leaving many to settle for the second or third best option.
For businesses and their many corporate travellers this makes managing business travel programmes effectively and cost-efficiently especially difficult. From details of hotel bookings and flights to individual passenger expenses and preferences for food, seats and rooms – there is simply too much information for many businesses to manage effectively.
Travel data management
Because of this, there is an upsurge in demand for a means to mine, collate, examine, correlate and analyse this data – Big Data as it is now known – so companies can make more meaningful, tangible and effective travel spending decisions.
FCM travel solutions have also developed a solution to enhance the way they manage travel data for their customers.
By mining travel data, FCM provides tangible insights that can assist in balancing the needs of the individual traveller with the goals of the company.
Through the tools and methods that they offer, FCM helps their customers drive savings, while improving the comfort levels of frequent travellers, by making the most of every bit of quantitative data produced when their employees travel on business.
FCM’s travel data mining solution
They do this by monitoring patterns and trends about business travel programme performance, taking data snapshots.
These data snapshots use the decentralisation concept to send a message directly to the traveller about their booking behaviour and their cost impact to the programme overall – both negative and positive.
If they are booking in advance, using preferred suppliers and driving savings for the business, this will be commended.
But if they are booking at the last minute, choosing expensive fares and using non-preferred suppliers, they will be told about it, along with information about the cost of their booking practices.
The benefit of this for travel managers is that the analytics is projected to the traveller informing them about what needs to be managed and then setting parameters.
“By ensuring travel managers have access to key metrics in real-time with reporting that blends historical travel and expense data with up-to-date data dashboards, we can provide immediate visibility of your organisation’s comprehensive travel spend” said Katy Byrne, FCM Global Data and Business Standards Leader.
“You can’t manage what you can’t see, so this is a crucial step towards using data most effectively within your business.”
Your entire collection of global travel programme data is the key to answering the questions you want to ask, and those you didn’t even know you needed to ask.
Besides helping businesses monitor and manage travel spending behaviour, FCM also provides access to a worldwide network of airfares, hotels and ground transport options that offer them the best value to maximise the return on investment of their business travel spend.
To find out more about how FCM can help you with travel decisions and the management thereof, visit the FCM Travel Solutions website.
This article was published in partnership with FCM Travel Solutions.