A big fortnight for the Travel Analytics team with the release of a new benchmarking dashboard. The new dashboard is packed full of great features, including clickable events, trends graphs, improved average booking cost benchmarking and a range of informative metrics. Here is a bit of an overview of what is available.
The new dashboards contain really cool and informative metrics, designed to show your customers how well they are managing their travel. Within the one dashboard, they can see how much they have saved by booking online; how compliant they are to policy, where they have selected the cheapest fare (or not); their average lost savings, difference between the best fare and the fare selected by the customer; discount fare utilisation, percentage of restricted fares they book; number of changes they make and the average cost of these changes, including exchange tickets, airline charges etc.; and the average booking lead in days.
We have also included hover text on the headings to provide information on what the data means. For example, Average Online Air Booking Cost is the total air spend, including original, exchange, and refund transactions, divided by the number of unique bookings booked online. This will help your customers understand the data they can see on the dashboard.
The new headline data also contains clickable events. When you click on the heading, a window opens displaying the last 12 months of data benchmarking the customer’s data to other clients (see below). This is a great feature, allowing customers to track specific metrics across an extended timeframe.
New Benchmarking Tables
We have also overhauled the benchmarking tables. City pair (domestic) and destination (international) metrics have been improved to display data at the booking level, not the ticket. Now the data is inclusive of the original ticket cost and subsequent costs resulting from changes to the booking.
Booking volumes information also provides perspective on where customers can focus their attention when reviewing their travel patterns.
The new dashboard includes a table that looks at the types of fares your customers are booking, how often they change them and the average cost of the change. This information is extremely handy for customers weighing up the value of flexible fares and how often they are actually changing them. No doubt this particular table will spark a few interesting debates within some organisations.
The final table in the new dashboard is accommodation. Nothing much has changed from the last version, except we show the difference in average nightly rate between online and offline. Looking at the results of our testing, it appears as if most online users are looking to reduce accommodation costs as well as their flight costs. Another ticket in the box for going online.
Activating the Benchmarking Dashboard
Administrators activate the new dashboard by navigating to Report Settings and activating the benchmarking dashboard. This can be done for all customers or individual customers or customer groups depending on your requirements.