One of the oldest management terms I can remember learning after school is the idea of turning data into information. By data, we all can relate to the large amount of data that we can all receive about our business, our industry or our products. Usually overwhelming, generally not useful
Then most of us have the task of taking this data, and turning it into valuable information. We want to make sense of it and ensure that we are in fact turning it into something that can be used to the advantage of our company.
So now we jump to my industry - travel. I have come to the conclusion that many in our industry do not understand the value of useful information in what is reported on and what is used. Let's take an example.
Ancillary fees. Found in the hotel industry for years. Recently introduced to airlines. Everyone wants a report that shows what airline ancillary fees are being bought by their travelers. Guess what? A report does not exist. Right now I cannot think of a place that it would exist. The only place to find a comprehensive listing of such fees would be "collected data" from your expense report. The final step in the travel process. Whether paid by cash, personal credit card or corporate card, this is where you will find it. So for all your wanting that data, make a field in your expense report software and watch it.
Then, when you have a good amount of "data", determine what information you can gain from such data. How will it be used? What is the point of having such data? There must be a reason....
Finally, try this out on all your measurements - what is the point. Then as my friend Scott Gillespie say's - what is next? How does both the data and the information be used to improve your travel program?
