Elevating business travel with data-driven analytics
When it comes to forecasting future spend in an ever-evolving travel landscape, you might feel like you have to break out the tarot cards to stay ahead. But guess what? You don't need to rely on manifestation or crystal balls to steer your corporate travel program with finesse. The real magic lies in harnessing the right data.
Ready to achieve a new level of control over your travel budgets while maximizing returns on investment? Consolidating your travel operations under a single vendor streamlines data collection by accessing analytic tools that help optimize your travel program.
Types of analytics to make informed savings decisions
Corporate travel data analytics come in various flavors, each offering a unique lens through which to view your travel data. Armed with these tools, you can unlock the secrets to informed savings decisions.
- Descriptive – Understand where you’ve been. Descriptive analytics provide a clear snapshot of your past and present travel trends. What was your travel spend last quarter? How many travel bookings were made?
This knowledge sets the stage for informed decision-making.
- Diagnostic – Time to dig deeper. Diagnostic analytics help you uncover the "whys" behind your data. Why did travel expenses spike last month? Why did certain bookings fail to comply with policy?
This level of insight uncovers hidden patterns and bottlenecks that could be impacting corporate travel performance. Analytics help you understand your company's travel booking behaviors. You can then take that information and make speedier data-driven decisions, that save money, and positively impact your travelers. Win-win-win.
How a business travel analytics tool can help you
Sure, practical budgeting and cost-saving are a given, but analytics offer more than just that. Use data to help you visualize where there is program leakage, what is working well, and where you can make tweaks. Here's how corporate travel data can revolutionize your travel program:
Understanding environmental impact
In 2019, humans produced more than 43 billion tonnes of carbon. Air travel, more specifically air travel for business, represents 2% of those greenhouse gas emissions (GHG).
With numbers like that, modern business travelers don’t just prioritize environmentally conscious choices – they expect it. And you should, too.
By tracking corporate trips and generating CO2 reports, you can clearly see your organization’s carbon impact and take necessary steps to reduce it. You can then take this data, and guide your travelers to choose more sustainable options. For example, selecting airlines based on their sustainable aviation fuel (SAF) use or participating in carbon offsetting initiatives.
Pushing vendor preferences
Cut costs without compromising comfort. Business travel analytics help you pinpoint the best deals on hotel bookings and save you a pretty penny on travel costs.
Through harnessing the power of analytics, travel managers gain valuable insights into price changes throughout the year. This way, you’ll be ready to seize the lowest-priced options or present alternatives when rates spike.
Plus, corporate travel tools empower companies to secure cost-considerate options without compromising on quality. With Melon, we incorporate negotiated rates and pre-approved contracts with preferred vendors, which makes it simple to explore options.
Keeping travelers in compliance
Ensuring travel policy compliance isn’t just a checkbox; it’s a bottom-line essential. Analytics step in to prevent violations by giving managers access to booking data.
Analytics aren’t just about numbers – they’re about compliance, too. Use your data to ensure travelers stay within company travel policy guidelines. Analytics help you curate a list of preferred flight and hotel options, driving policy-compliant choices and boosting employee satisfaction.
Put traveler safety first
Duty of care isn’t just an obligation – it’s a priority.
A comprehensive business travel data tool serves as your vigilant companion. It equips you with real-time safety information from hotels and flights, and delivers alerts should a concerning event arise. This proactive approach empowers travelers and travel managers alike to make informed decisions and take necessary precautions while on the road.
With data at your side, you can keep an eye on safety concerns for different destinations. This makes sure you don't send travelers into health hazards or social/political unrest areas.
Making the most of your business travel program with a travel analytics tool
We've said it before and we'll say it again: If you don't know, you can't grow. Data = visibility = better, more informed decisions. It's not enough to simply have a travel analytics tool, if you don't understand how to use it to your advantage.
Want to know where your travel dollars are being spend quickly? Use one tool for all of your travel needs. You'll have 20/20 visibility in no time.
All travel data in one place
Say goodbye to scattered data. Streamline your information with tools that aggregate all travelers data. A centralized hub improves visibility and allows you to easily detect trends, patterns, and inefficiencies. With a holistic view of your travel ecosystem, your analysis becomes more comprehensive and your actions more effective.
On-demand, custom reporting
Real-time decision-making, tailored to you. Analytics tools offer both standard and customizable business travel reports, enabling you to respond swiftly to changing circumstances. Enhance transparency, align with organizational needs, and present relevant insights to various stakeholders.
Embrace the data-driven revolution
The future of global business travel is here. And it's data-driven.
Bid adieu to vague predictions and uncertain budgeting – analytics has your back. Whether you're curbing your carbon footprint, scoring the best deals, or safeguarding traveler safety, Melon’s got your back.
Why you’ll love Melon's Business Travel Analytics Tool
Manage all your business travel through the corporate travel platform that has all the answers.
- It’s so intuitive you can book in 5 minutes.
- Reports help analyze your spend so you can make quick decisions for your business.
- Access the best negotiated rates, worldwide.
- Chat with your travel expert with one tap.
- Stay in the know about anything and everything travel
Ready to take care of business? Let's talk Melon. Book a meeting today.
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