Data Analysis Process

In today’s world, data analysis has become an essential part of any business, especially in the travel industry. The travel industry generates an enormous amount of data every day, including customer data, booking data, sales data, and much more. Analyzing this data can help travel advisors make informed decisions, improve their services, and ultimately increase their revenue.

Data analysis can provide travel advisors with valuable insights into customer preferences and behavior, enabling them to tailor their offerings to meet their customers’ needs. By analyzing data, travel advisors can identify the most popular destinations, travel times, travel trends, and activities that customers are interested in. They can also track customer feedback and reviews to identify areas of improvement and enhance their services.

By analyzing sales data, travel advisors can identify their best-performing products and services and focus their efforts on those areas. They can also track their marketing campaigns’ success and adjust their strategies based on the data they collect.

You should always have an idea of how your business is trending, tracking, and doing. If you have a CPA  or a CRM, then it should be very easy to pull records and reports of your data for your travel business.

Each business is different, but here is a list of data points you should always be aware of when it comes to your business—

1. Profit & Loss
2. Leads Acquired
3. Leads Closed vs Leads Lost
4. Number of Cancelled Bookings
   1. Gross Sales of Cancellations, Gross Commission of Cancellations, and Reasons Why
5. Overall Gross Sales Booked
6. Overall Gross Commissions Booked
7. Overall Gross Sales Earned
8. Overall Gross Commissions Earned
9. Number of Trips Booked
10. Upcoming Clients Traveling
11. Sales by Supplier
12. Referral Groups (where clients came from)
13. Projected Income
14. Annual/Quarterly/Monthly Goals
15. Clients Traveled This Year

Data analysis is crucial for travel advisors who want to stay ahead of the competition and provide the best services to their customers. It can help them identify customer preferences, improve their offerings, and increase their revenue. So, if you haven’t already started analyzing your data, now is the time to do so. By leveraging data analysis tools and techniques, you can take your travel business to the next level.