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Published by Galor Systems & Software Development, April 2009. This publication may be distributed freely in its entirety. Content must not be changed.
1 Galor Systems and Software Development Ltd. Azrieli Center 1, 67021 Tel-Aviv, Israel | Tel. +972-3-6076300 | Fax. +972-3-6076310 Email: sales@travelbooster.com | Website: www.travelbooster.com
Executive Summery
This white paper briefly outlines the benefits of Business Intelligence tools for the travel management industry. This paper touches on the many sources and complexities of information flow in this industry, and reviews the importance of such data in making key decisions. The paper discusses how the right BI solution can have a positive impact on the profitability and efficiency of a travel management business, and is a must have to ensure growth. The paper also offers advice on choosing a BI solution, including finding one that analyzes both internal and external data, integrates with existing travel management and online booking software, and allows users to apply BI when making decisions that impact their daily working process.
2 Galor Systems and Software Development Ltd. Azrieli Center 1, 67021 Tel-Aviv, Israel | Tel. +972-3-6076300 | Fax. +972-3-6076310 Email: sales@travelbooster.com | Website: www.travelbooster.com
The key benefits gained from deploying a BI solution include: Minimizing business risk while maximizing business opportunity. Users gain instant access to the information necessary to make better business decisions. Faster reaction times to positive or negative trends mean a significant impact on your efficiency & profitability. A better understanding of your customers, and therefore a greater ability to answer needs, and develop a stronger relationship. Better visibility of the organization for both executives and business managers. Extracts and analyze data from multiple sources. Employees spend less time trying to locate and access information, making the business more efficient.
3 Galor Systems and Software Development Ltd. Azrieli Center 1, 67021 Tel-Aviv, Israel | Tel. +972-3-6076300 | Fax. +972-3-6076310 Email: sales@travelbooster.com | Website: www.travelbooster.com
Figure 1 (below, taken from a 2008 report Best Practices in Travel Business Intelligence authored by Norman L. Rose, sponsored by Sabre), demonstrates some of the categories of information that need to be managed in a standard travel business.
Figure 1
4 Galor Systems and Software Development Ltd. Azrieli Center 1, 67021 Tel-Aviv, Israel | Tel. +972-3-6076300 | Fax. +972-3-6076310 Email: sales@travelbooster.com | Website: www.travelbooster.com
5 Galor Systems and Software Development Ltd. Azrieli Center 1, 67021 Tel-Aviv, Israel | Tel. +972-3-6076300 | Fax. +972-3-6076310 Email: sales@travelbooster.com | Website: www.travelbooster.com
How is it used?
The type of question being asked often dictates which source of data is most appropriate. BI reports essentially fall into three broad categories: executive summary, vendor analysis, and compliance. (See Figure 2 below, taken from a 2008 report Best Practices in Travel Business Intelligence authored by Norman L. Rose, sponsored by Sabre)
Figure 2
6 Galor Systems and Software Development Ltd. Azrieli Center 1, 67021 Tel-Aviv, Israel | Tel. +972-3-6076300 | Fax. +972-3-6076310 Email: sales@travelbooster.com | Website: www.travelbooster.com
The report conveniently outlines each of these categories as follows: Executive Summary: This includes summary of total spend by categories, divisional and departmental breakdowns, geographic comparisons and month-to-month or year-to-year performance comparisons. Vendor Analysis: This includes detailed analysis of airline market share, hotel nights, properties used, car rental statistics and more. Compliance: This broad category encompasses the entire subject of policy monitoring and enforcement for example, lost savings when travelers do not choose the preferred supplier, fare or rate, as well as identification of incomplete segments (e.g., itineraries with air but no hotel). Also within this category is booking behavior, including online adoption and advance purchase booking patterns. Studies and experience show that there is a fast learning curve in understanding of the usability of a BI solution. It is also well documented and known that the wise usage of a good BI solution saves both a good portion of time and money.
7 Galor Systems and Software Development Ltd. Azrieli Center 1, 67021 Tel-Aviv, Israel | Tel. +972-3-6076300 | Fax. +972-3-6076310 Email: sales@travelbooster.com | Website: www.travelbooster.com
Each member of the team must see themselves as a channel for information, responsible for distribution of business intelligence throughout the enterprise. Each member must be able to apply BI in order to make decisions that impact their working process. Team members assured access to BI include: Finance managers, department heads, line managers, sales staff, etc. Integrate all your internal corporate travel software solutions and online booking software for best effect. This will allow your BI tool to gather and analyze more information and give better results. Use your BI tool to ask yourself what if questions and play with different reports.
Summary
The travel market is heading into to an uncertain period in which sales may be greatly affected by the existent financial crisis. A smart BI solution can and will help a decision maker to forecast sales, negotiate contracts, manage commissions, create and monitor sales and profit targets and identify opportunities to increase sales and reduce costs. 8 Galor Systems and Software Development Ltd. Azrieli Center 1, 67021 Tel-Aviv, Israel | Tel. +972-3-6076300 | Fax. +972-3-6076310 Email: sales@travelbooster.com | Website: www.travelbooster.com
About Galor
Established in 1989, Galor is a leading supplier of travel technology, boasting a client base of over 700 customers and innumerable users in more than 25 countries around the globe. Galor was founded on the belief that to promote growth in the global travel industry, sophisticated but simple technology must be accessible to all. Our vision is to upgrade the industry by introducing cutting edge technological solutions that answer the evolving needs of the market, reducing costs while expanding business opportunities. Based in Israel (the second Silicon Valley), our highly experienced international team of executives includes over 70 people focused on excellence in development, product application, customer support, training, installation & implementation, administration and finance.
9 Galor Systems and Software Development Ltd. Azrieli Center 1, 67021 Tel-Aviv, Israel | Tel. +972-3-6076300 | Fax. +972-3-6076310 Email: sales@travelbooster.com | Website: www.travelbooster.com