Expedia's business travel management company, Egencia, has announced the launch of its Egencia Analytics Studio, which will aim to assist in the process of planning, booking and managing business travel.
The platform uses data-driven insights and delivers a summary via visual renderings and customizable widgets of various angles and filters, such as the ability to view the impact of advance purchases in accordance with business policy and travel typology.
Additionally, the analytics tool combines online and offline travel data to offer users an organized approach and optimize travel expenditure.
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Alex Kaluzny, CTO of Egencia, said: "We live in a world where data is everywhere, but it's only useful when you can turn data into actionable insights.
"Understanding the data and using it to make decisions that benefit your business is just the beginning – we continue to evolve the Egencia Analytics Studio to bring the power of predictive analytics to our customers."
According to statistics portal Statista, business travel contributed $282.6bn in the US economy in 2015 and has been forecast to continue increasing in the coming years, with the number of domestic business trips predicted to reach 483 million a year by 2020.