2020 is a new year and a new decade, rich with new opportunities for travel buyers to fine tune their Phat Data vision. Over the past five years, the Phat Data series has viewed the stories through the eyes of the buyer. However our supplier partners have just as many data struggles, so this upcoming year is going to be focused on the supplier.  

We will take a deep dive into how our suppliers determine which data to focus on, and how they aggregate and then present data to the travel buying community. Look for articles telling the supplier side of the story, from airline account managers to hoteliers and ground transportation providers, and all the sectors that contribute content for the travel buyers’ Phat Data strategies.

But first, our travel buyers need to be prepared. That means a refresher course on building out your strategy and transforming data into information and then into wisdom. If you have your data strategy started, that is awesome; a new year is a great time to refresh and renew.

If you keep telling yourself you will get around to it – stop that! Make your 2020 work resolution to focus on how you can build a great data strategy and deliver more impactful information throughout your organization.

Of course, that’s easy to say, but not so easy to actually get started. However one of the best ways to begin is to intentionally dedicate time to it. Set aside thirty minutes to an hour each day to just concentrate on the data you are delivering and how you can make it more impactful to your program. So as you being, here is a framework to build on.

Step By Step 
First and most important, you have to gain insight into what your organization’s overall business objectives are, and how travel fits into those. This is so important because designing your program and the data that supports your initiatives are all contingent on understanding the why’s of your company’s travel.  

An example of this is the fact that your salespeople travel for very different reasons, than, let’s say, your IT folks. The two groups have different objectives, their needs are different and how a travel buyer supports these two groups should also be different.

Now a word of caution: This is not an ask once and done process. Discovering the how of all this takes time. It takes thoughtful conversations with business unit leaders; it may surveying different groups; and by all means, you should talk to your travelers. It’s a deep dive into your business, but it is necessary.

You should be armed with data about the current program and in these conversations, share what you see as working or not – and if not, then asking why not? Why aren’t people booking the preferred supplier, or using the booking tool, and so on. At the same time, it’s also important to share the successes. Ask them what data they would like to see from you so that you can support their objectives.  

Once you have had these conversations, it’s time to take stock in what data you need to support the conversations you’ve just had.  So pull out all those reports and spreadsheets and stuff, and determine the following:
•Is this data actionable and does it support my objectives?  If yes, keep it.
•If this data set had more information added to it, could it be actionable and effective? If yes, keep it and figure out how to get what you need to enhance it.
•If you don’t use it, and can’t find a new use for it, then get rid of it!  

It’s a data purge of sorts. Now go tell your suppliers what data you need and what they can stop wasting their time delivering to you. While you’re at it, you really should tell them the why behind those decisions and requests, too. Having these conversations is so important. They help build a better partnership and allow both parties to have a more strategic approach to things like business reviews.

Right Sizing the Supplier Mix
The next step in this process is to take a look at your supplier mix. I would guess that based on the conversations you are having with your internal stakeholders, you will probably gain a lot of insight into how travelers feel about the preferred suppliers in the program.  

And guess what? One size does not fit all. You may not have the right suppliers across your program, and that could be reducing compliance. So take a supplier timeout; combine the data you have at hand, match it up to what you heard from your conversations and make sure that the suppliers you have chosen match with your travel objectives.  

Maybe you are entering into a new market or launching a new product and need to switch up suppliers. This is a great time to get that 2020 vision into who best to partner with. Keep in mind that if you don’t take this step in the process, it will impact the effectiveness not only of your program in the short term, but the future conversations you have with those internal stakeholders. Because if you design your program around your business objective and gain stakeholder buy-in, you need to provide the right services.

Story Time 
Now comes the fun part of managing your Phat Data: Telling your story.

Going into this project it is necessary to realize that you have to deliver the right data and the right time to the right people. Buyers need to determine how they are going to aggregate and deliver the data: Is it through a third-party application, some internal means or even in simple spreadsheets?  

Then as you think about the stakeholder’s objectives, decide what story you are trying to tell with the data, and to which audience. Are you looking to share successes or is there an ask? If you want to highlight something in particular – let’s say noncompliance – then you need to also decide what action you would recommend the person take to bring about a solution.

Remember, the CFO and the line manager probably aren’t getting the same set of data. Actively sharing and engaging with the stakeholders also enables the conversations about the program’s success to happen all year long, letting buyers tweak and refine their program as needed.

The most important thing is, once you have got this ball rolling, it never stops. You should be constantly reviewing and renewing your data, so that as your company’s objectives change so does your Phat Data!  

Invest the time it takes to deliver actionable and impactful data. Then as you keep driving the strategy forward, you can watch your managed travel program grow and your role evolve from the tactical execution of the function called travel into a trusted advisor who plays a critical part in your company’s strategic success.

Next Month: Suppliers Perspective: Airlines

Jennifer Steinke is Global Head of Travel for PPD, Inc., and an industry thought leader with over 30 years experience managing corporate travel. She holds an MBA plus Certified Corporate Travel Executive (CCTE) and Global Travel Professional (GTP) certifications from GBTA. Jennifer strives to deliver innovative and thought provoking ideas to the corporate travel industry.