As we wind down toward the end of 2019, there is no better time to get a head start on evaluating your travel program than right now. January is a hot time for requests whether this includes budgeting for next year or looking back at what worked and what didn’t work heading into the new year. Utilizing the data visualization offered by Fox’s Cognition is key to making life easier for travel managers looking to take advantage of a more data-driven approach.
Benefits of data visualization
A visual look at the year-to-year data is useful to evaluate what to do moving forward and helps locate cost-saving opportunities. Are there areas where you think you may be spending too much, or are there portions of your travel management program that you feel may be underserved? Analyzing the data points may be helpful to find solutions in your spending. Data visualization helps travel managers easily measure key performance indicators (KPIs). They can also use that data as leverage with suppliers in order to negotiate for better discounts.
Why go visual?
Visual data displays the significance of the metrics being measured, identifies spikes and trends and compares year over year spending. The data can be easier to process, as opposed to looking at numbers on a spreadsheet. This allows travel managers to be more informed and aware of the performance of their travel program, allowing them to make the best decisions possible moving forward. Travel managers can analyze the data and detect why a particular KPI is trending in a certain direction. Cognition also allows integration of other data instead of utilizing separate dashboards. Utilizing Cognition makes for a more efficient, customizable process, alleviating any extra work for more time to focus on other responsibilities. The KPIs can be adjusted and programmed to your individual or company needs enabling you to best analyze what you are looking for in your travel program.
End of year evaluation
Like in all professions, travel managers are looking for an edge to improve efficiency year by year. Get a head start on travel management in 2020 by identifying the measurables and data points Cognition has to offer. Taking a look at yearly results helps create an overall picture of the travel program. Understanding how much of the travel spend is being used on certain items is key to cost saving in the future. Cognition can also be used to identify specific travel program goals for years to come.
Travel managers with data visualization programs available to them have a level of insight into their program that raw data cannot replicate in a manageable and customizable way. As travel moves into the future and more data becomes available, utilizing tools like Cognition becomes increasingly more important.
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