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Categories: Special ReportTechnologyData Management

Travel Spend Soup to Nuts

Comprehensive new solutions can add real value to the data that’s hiding in your travel program
As technology marches on and continues to discover new ways to capture more information, it’s become apparent that Big Data is no longer the Big Deal it was even a few years ago. Merely collecting, collating and controlling huge mountains of information has quickly descended into an exercise in futility; there’s just so much you can do with so much information.

The Global Business Travel Association reports in its BTI Outlook – Annual Global Report & Forecast that business travel spend worldwide reached $1.33 trillion in 2017 and is on track to grow by another 7.1 percent by the end of this year. GBTA estimates that by 2022, companies will spend $1.7 trillion on business travel.

This number includes everything from big-ticket items like air and hotel to ground transportation, meals and myriad other travel-related costs. And every penny of that spend represents a data point in some way. As a consequence, travel buyers are inundated with data, either frozen in ‘analysis paralysis’ or using it to build a managed travel program that not only survives but thrives.

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