PREDICTIVE ANALYTICS

How travel managers can use predictive analytics

CWT

What is Predictive analytics?

Predictive analytics, also referred to as intelligent data modeling, is used to predict future actions and events by using large and varied data sets and forecasts. It is currently used in many varied industries, including ecommerce, banking, finance, and healthcare.

Solutions Group introduces predictive analytics capabilities

CWT Solutions Group has built an advanced data model that sifts through more than 85 indicators and metrics. This includes large historic travel data sets, as well as public data on commodity prices, macro-economic indicators, weather, and holidays. Those data points are analyzed to identify patterns and correlations, generating robust predictions for a company’s future spend, specifically the number of trips and cost per trip.

 

 

How can it help me?

In today’s environment managing travel programs should not be just about monitoring and taking corrective actions. Predictions enable all stakeholders in the business travel industry to better anticipate and to act proactively.

Read our white paper to explore how predictive analytics can reveal new savings opportunities for those who manage travel.

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white paper

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