Over the past decade, the flow of data has become a torrent

Since technology is everywhere, data is too, and every day brings more. As companies accumulate more data on more things over longer times, they realize their data has become hugely valuable. It doesn’t matter whether it’s data on leaf growth, household waste, micro-meteorite strikes, or the eating habits of teenagers: numbers are numbers, and numbers don’t lie.

With the right tools, and the application of creativity, you can use these data sets as x-rays on reality: make predictions, allocate resources, optimize processes. That's why so many mathematicians, physicists, and engineers are moving into data science. Amazing things are becoming possible, and the future belongs to those who use the data best.   

Google and Facebook have shown the world that you can do very interesting things with data. Now every other industry is doing the same.

Travel is no exception. With so many people travelling, there’s lots of data on travel habits, in ever greater granularity. For the travel industry, it's about using data to look at particular problems for travelers, and coming up with ways to solve them.

For example, travelers think that they know more than their travel provider, and so they're more likely to book out of policy. And yes, sometimes they can find cheaper flights elsewhere, or special deals on hotels (although conditions may be more restrictive.) 

What we want to do is to give travelers the sense they’re in control – but at the same time present them with such cleverly chosen options that they stay within the rules. The key is to make the process as simple as possible.

Let's say that you need to go to your London office. We can use the data to show you the best options. We can do this because other travelers have done the same thing a thousand times over the past year - the hive mind at work. And we know you generally fly BA, often take the very last flight, love little hotels in historic centers, and will always take an Uber.

We thus have all the data we need to create the perfect trip for you: rather than drowning you in choices, we offer you two flights, three hotels, and an Uber. You make your choice. Done.   

Data can also show exactly how value is created. Imagine you're trying to clinch a million-euro sale. You probably won’t mind spending 10,000 euros on a business class ticket to ensure your team arrives well-rested and ready to roll. Other times, we can show you that switching to premium Economy for some routine flights could save you lots of money without hurting productivity. Using data, we can also correlate flight data with the risk of illness, ensuring your top people don’t burn out.

The possibilities are endless – and as the data piles up, we can help you benefit.

[This blog post has been written by Carlson Wagonlit Travel]