Corporations fail to leverage advantages of business intelligence

Only a fraction of corporate travel programs today fully leverage the powerful technology that’s increasingly available for controlling costs and keeping travelers safe

Only a fraction of corporate travel programs today fully leverage the powerful  technology that’s increasingly available  for controlling costs and keeping travelers safe. A new guide published by BCD Travel provides fundamental information needed to understand and harness business intelligence in corporate travel.Business Intelligence in Travel supports better decision-making, leading to a positive impact on corporate goals.

“The intersection of super-computing, open-source data platforms and unprecedented levels of data capture provide enormous and affordable opportunities to the people charged with getting more out of corporate travel programs,” said Claudia Unger, director of research and intelligence at BCD Travel. “Yet only a fraction of companies have begun to tap the full potential of BI to improve travel programs.”

Business Intelligence in Travel seeks to remove the mystery surrounding BI’s use. The paper provides specific examples for effective reporting, analyzing, monitoring and predicting business travel. The straightforward guide defines business intelligence, outlines challenges to its implementation and maps out the steps needed for companies to quickly begin getting the most out of their data — starting with information already in hand. The paper examines such related topics as predictive and prescriptive analytics, data standards, real-time data, multi-source data consolidation, geo-coded location data and unstructured data.

“We live in an age of specialization that encourages people to outsource tasks that fall outside their scope of knowledge and skill,” said Torsten Kriedt, BCD Travel vice president of corporate intelligence and product planning. “That can discourage companies from moving ahead with innovations their workforce has yet to master. Business Intelligence in Travel demystifies the process, so BI seems like an easily accessible and achievable tool for improving travel program performance. ”

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