So, what exactly is travel-specific Big Data? And, more to the point, how can you use it?

Like many industry sectors, travel and travel management are working to move past the hype of the Big Data headlines to assess the potential impact and benefits it could have.

Many are excited by the ability to mine data left behind from searches, mobile, payment transactions, tweets and social media to find the useful information.

While suppliers seek ways to use the new technology trend to boost revenues, enhance service or reduce expenses, travel managers want to know how it might solve some of their challenges.

In travel, every online booking search, travel booking, payment and transaction ends up in one or more databases. Travel managers already receive reams of data about their business travel from online booking systems, travel management companies, payment systems, suppliers and expense systems. But the process to garner more data from social media, reviews or interaction on the road to combine with external sources has just begun.

One of the biggest benefits expected to emerge from mining volumes of data is in the area of predictive analytics. By analysing historical data of traveller choices, location, preferred airlines, status and other factors, travel management companies or online booking tools could drastically improve options offered. Predictive information could be used in online booking tool searches and speed up the process for the traveller.

In my experience the majority of travel and procurement managers are just starting to get to grips with the data available from TMCs, payment providers and suppliers and how to utilise that information to improve their travel programmes.

I am uncertain as to how Big Data could be used by the corporate except maybe in assisting to create intelligent travel policies and improving booking processes. I see more obvious advantages for suppliers.

Perhaps it’s time to start rethinking how we use the data we have today and the potential for Big Data initiatives.