This is rightly named as the age of traveler-centricity and with the evolution of the new era of personalized travel; it is leading to research and development of a host of new so-called intelligent services. The command-and-control perspectives of traveling have changed a lot from the past and the focus has shifted more on the traveler and the productivity of each trip. It has become essential to maintain that the travelers have the greatest return on investment on each trip. New generations of young employees and managers, who have been growing up and dwelling in a digital age, are moving up the ranks as travelers. It has become essential to recognize the need for greater flexibility acknowledging that the employees who travel on corporate trips also consider a percentage of their trip to be a leisure outlet. With increasing globalization and rise in companies sending their staff overseas to network and connect with their offshore prospects/customers/suppliers, corporate travel is a highly profitable tourism segment. Before we talk about how tourism companies can better cater to business travelers, let us first look at why they prefer to use specialized corporate agencies over traditional agents
Why do businesses use Corporate Travel Agencies?
This might be the most basic question for a travel agency as to why they need to use agencies specializing in corporate travel when there are plenty of regular travel agents in the market. Here is the importance of corporate travel agencies who have online systems which allow business travelers access to their complete itinerary.
The following information is at the fingertips of the CTAs:-
full business itinerary details
up-to-date tracking details of flights (including delays or rescheduling)
transparent details about additional costs such as baggage fees or in-flight fees
travel alerts, if any, in the destined area
complete and up-to-date details about the visa procurement policies and identification required
currency requirement and conversion rates
What do corporate clients expect from Corporate Travel Agencies?
The Corporate Agencies tend to have tie-ups with hotels, car rentals, flights etc. giving them access to lower fares which can be used only by the frequent business travelers. Discounted prices are not the only advantage though as they also offer flight upgrades, room upgrades, and VIP check-in lines as required.
In-depth information about the travel industry
Corporate travel agents have access to many travel resources and most importantly, quickly, than any other leisure travel agent. Additional information helps to make the business trips convenient and comfortable.
Changes in Itinerary
When an airline ticket needs to get rescheduled or cancelled, chances are the airline or the online service provider will charge lofty fees. When booking with a corporate travel agent, most of the times schedule changes can be done at zero or minimal extra charges.
Viable emergency contacts
It is important for the business travelers to reach the correct person at the need of trouble. Corporate travel agents have the experience and professionalism to relieve stress for both the traveler and the company.
What you need to consider as corporate travel increases?
Business Travel Barometer reported that corporate travel is witnessing an accelerated growth. However, when poorly managed, it may be no longer an advantage to companies and may, in fact become a burden. There are some factors which the corporations and CTAs must consider to get the best out of the time spent traveling.
Adopting a travel policy
The corporate must define a travel policy which is applicable to and respected by travelers at all levels. This policy should be used to establish the standards which will help to track the improvement of business travel. It will eventually help to reduce the costs of the entire package.
Do not limit the traveler’s autonomy
The management is responsible for budgeting the travel policy which helps to improve cost management however, it is also essential to give a degree of autonomy to the traveler. The policy should be flexible enough to allow the employee to adapt the trip as per the situation.
Traveler’s security should be a major concern
Business travelers need to have security in place. The company needs to stick to its definition of standards to ensure the employee’s integrity. The CTAs should have reliable partners (travel insurance, airlines, hotel chains etc.).
Mobility and automation
To optimize time and ease the processes, the administration of management platforms should have automated processes. This means they should adopt mobile solutions where search options, travel alerts, ticket reservations etc. can be accessed quickly, easily and on the go.
Corporate Travel Trends in 2016
Corporate travel trends tend to change regularly. 2016 has also not been any different and the travel management companies (TMCs) and corporate travel agencies (CTAs) are quite focused to provide steady if not strong axis all over. A growing MICE sector, investments in mobile and big data and enhanced focus on duty of care are some of their areas of focus.
The consolidated buzzword among global suppliers, airfares, hotel rates etc. is the rising fares. It is sometimes the move of the suppliers to generate discounts which encourage travel if there is a strong decline in demand. A positive 2016 world economy has been bringing an increase in air fares of a few percentage points, hotels are expected to see 4%-6% rise in average global rates and the competition will remain moderate in the car rental services.
Duty of care
Risk management is one of the major points of emphasis for corporations. Corporate customers are allowing new policies and improved technologies to monitor employees’ location in case of an emergency, especially when they are travelling to foreign destinations. For instance, Concur Risk Messaging helps to identify the travelers moving around in the world and alerts them with alternate travel arrangement as and when needed.
Focusing on MICE
Meetings industry is a major growing sector and the corporate travel trend is developing on it. The corporate travel agencies should better start aligning the various meeting procurement methodologies with its transient travel sourcing. One of the ways could be to broaden the variety of meeting services by incorporating incentive trips within it.
Investing in technology
A sharper focus on increasing value and becoming more traveler-centric can be done by bringing in mobile friendly technologies. Mobile and big data are definitely the two most significant technological investments which any corporate travel agency must focus to make their platform more appealing.
Business travel analysis after Brexit
Following Brexit, ACTE and CAPA shared their speculations. According to them, the greatest short-term effects on the travel industry will come from the weakening of the pound against other world currencies. Greeley Koch, executive director for the Association of Corporate Travel Executives said that the business travel industry will trend on currency fluctuations; with some companies taking advantage of the weaker pound and traveling more, while others may withhold business travel until world markets find their own level.
Impact of terrorism on corporate travelers
Travel policy makers and administrators need to be guided by rising terrorism scare. For executives and staff undertaking travel on behalf of businesses, the travel agents and corporate travel agencies (CTAs) should prove the reassurance for their safety through the travel policies. It is more than likely that the surveys conducted over corporate travelers reflect the general concern of the global business travelers about the spate of terrorism. However, there is no denying the fact that terrorist threat is changing the patterns of business travel. The key impact of this is to keep in mind that the companies providing travel services for business travelers need to enhance their focus on security and the associated risks in delivering the services to corporate clients. According to a recent finding, travel managers have higher estimation of their policy’s effectiveness in addressing risk compared to skeptical business travelers.
Although the corporate travel sector has continued to progress, there are a plethora of challenges faced by the industry. A rapidly changing consumer market, the emergence of new business models, the impact of technology, man-made and natural crises are some of the fulcrum points that need to be considered before planning corporate trips.
Network marketing is not just about the work, it is also about the confidence and decision to make your business a success. It can be easy to feel that you are on your own in this effort, however, by making use of good tips and ideas that will impact your success, you can get the ball moving and build the future of your business.
A new network marketing opportunity will always be more lucrative than a long-standing one, but the older one will be more stable and likely to stick around. You have to judge each opportunity as it comes along on whether or not it’s financially viable, and what it’s current reputation is, before you decide to join.
Strive to maintain a positive attitude to achieve success in network marketing. While the rewards can be great, the rejection can sometimes be equally difficult. By maintaining a positive attitude, you will become a better marketer and drive your business much further.
Invest in a good haircut to make yourself look more presentable. Furthermore, make sure your clothes give off a look of respectability. The truth is that brand names, and logos make you look like you have the money to back up your claims, so invest in a few really good pieces for your wardrobe to help promote your image.
Your diet should reflect your commitment to your network marketing business. Eat foods that allow you to feel light, positive, and full of energy. Vegetables and fruit will keep you going, and a high fiber diet will keep you on the computer and out of the loo. The better you feel, the better you can run your business.
Realize that relationship marketing can be a key to success in building your business. You may be able to generate potential customers. However, not knowing what that customer needs will never lead you to conversion. Understand their needs in order to assist them in a way that will create a buyer through trusted knowledge.
If you are running your network marketing business out of your home office, get business liability insurance! Typical home insurance doesn’t cover business equipment for a lot of money, so call your insurer and find out what your coverage is. If it’s insufficient, think about adding home business insurance to make sure you don’t lose everything in the case of a disaster.
Establish a budget for your marketing campaigns. Your marketing expenses do not have to be consistent. You might have to invest more when you launch a major campaign, and your expenses will decrease over the next few weeks while your first campaign is still attracting new customers. Look for consistency over the long term.
As you have seen there are great ideas to be had. This kind of advice comes from those who have worked towards success before you. Use them as stepping stones towards your own success. Following the footsteps of those who have come before you does not mean you cannot be successful on your own. It means you have the foresight to emulate successful behavior.
The number of Internet users are burgeoning rapidly throughout the globe. While in the developed nations, it has already reach a saturation level, in growing economies like India, internet penetration is becoming stronger. Internet grew as an empowerment for common people and a massive business platform for enterprises. Among numerous trends that internet brought among people, eCommerce emerged as a massive disruption in business dynamics and in lifestyle of commoners. It brought the lavishness of shopping right at the clicks on the computer or taps on mobile devices, while, products as well as services reach the doorsteps.
eCommerce has become a proven profitable venture with considerably low investment and high profit. However, the profit part is dependent of several factors. It can become a complex business to handle, as it involves many critical operations right from accumulation of products, delivery, customer services to maintenance of technology, massive human resources, and warehouses. Only a seamless tandem in all these operations can lead to a running eCommerce business, that can bring good Return on Investment.
To venture into eCommerce, prospective business owners must first find a dependable firm to develop the central platform or the web portal. They can also hire technology experts for in-house development, but it brings along the cost of development and technology infrastructure. In the primary stages, many other operations, like collecting products from vendors and marketing are required. Hence, outsourcing the development of the platform becomes a profitable option. Businesses would only need to find a good eCommerce Development company.
Since, technology is a central aspect in eCommerce industry, adequate importance is given in web development for creating the web portal. This thrust in technology propelled a dynamic boost in IT sector. Especially, application development, web development and technologies like PHP has found their ways to massive popularity and importance in current business landscape. In fact, there is a competition among businesses to buy the best technology or to develop the best platform.
In eCommerce, the web portal, or the technology is at the center of all its operations. It is not only the interface of the business with consumers, but also the prime mechanism in which the business runs. The website serves multiple purposes all at the same time and it is that single touch point of all major interactions with consumers. Accessibility of services and abundance of features in the web portal is a secret mantra for success in eCommerce. Therefore, the imperatives of technology in this business is the central focus for enterprises and owners.
A successful digital marketing campaign is the dream of many business owners. With the help of this campaign, businesses won’t have to sleep and commerce can flow anytime and anywhere.
Digital marketing is usually defined as a marketing strategy that uses digital or Internet-based services, platforms, and tools instead of traditional marketing media. A typical strategy or campaign includes the use of email campaigns, social media, online videos, and banner ads on websites. This strategy is highly useful to every business, regardless of its type and size, because it has the potential to reach any customer or client who has a connection to the Internet, wherever they are at any time of the day or night.
But how do you start or create a good and effective digital marketing strategy? You can begin by following the key 3 steps and some additional tips below:
1. Determine and know your target audience.
A good digital marketing strategy starts with identifying the group you want your brand, product, or service to reach. To do this correctly, answer the following questions:
• Who do you want to sell to or who do you want to buy your product or get your services?
• How do they usually search for products and services they want info about online?
• Which social media sites or platforms do they normally use?
• Which sites do they spend a lot of time on when they are online?
By determining who your target demographic is, where they hang out, and how they like to engage with the brands they follow, you will have a higher chance of having your message being welcomed by online users rather than be lost the wide world of the worldwide web.
2. Put some thought into selecting the best platform to reach your audience.
At present, there are many ways of effectively reaching your target audience online. These include the various social media, search engines, display advertising, and direct email marketing. Generally, people who are of a consumer age have some type of online interaction. They may be researching using popular search engine sites, posting on various social networking sites, or reading content online. Most of these platforms have a measurable weighting toward a particular demographic. If you can’t understand the figures, get help from experts in comprehending them and with using them for choosing the best platforms to use in your digital marketing strategy.
3. Regularly measure and adjust.
Lastly, be open-minded when starting and even implementing a digital marketing strategy. Also, don’t be afraid to change what you’re doing. This is because the digital landscape is known for its rapid change. Although this may seem daunting, it’s actually one of biggest advantages of doing digital marketing. This is because the target audience, message, and placement of your online communication can be adjusted quickly and easily, unlike with traditional marketing.
Based on who you ask, a career in IT is both bright and risky. The information technology industry is going through dramatic changes because of the consumer technology, social media, recession and cloud computing, just to name a few. These changes in the corporate world and IT industry are impacting the availability of IT jobs, required skills and salaries. Read on to find out more about it.
If you ask IT professionals, especially those who consider their profession in the IT industry as a dead end will say that the IT departments are facing a non-stop cycle of downsizing. Others things that are adding to the concerns of professionals are offshoring, and the use of the high-tech labors in the form of H-1B visa holders. This is the reason some people think that the pursuing a career in the IT sector is somewhat risky.
Aside from this, the existing professionals in the industry are also fed up with the fact that they are not appreciated for the time and effort they invest in order to get their routine work done. They have been finding it hard to maintain a balance between work and life, not to mention the fact that they are not getting the salary increments they expect.
Other the other side, some professionals are optimistic and they say things in favor of the IT industry. They agree that the industry professionals have a lot of problems to face, such as globalization, offshoring, technological changes and so on. But they still believe that it is the best time to be an IT professional. They are of the opinion that jobs in this industry and the jobs in the near future will be so lucrative that the job holders will be considered well-rounded employees. And they will be better prepared to handle other business tasks. This is because technology is making its way into all types of businesses, and there will be need for IT pros in every business.
Why pursue a career in IT
Although the problem of layoffs and outsourcing is there, the IT sectors still have some jobs that are more stable. Some employers are of the opinion that this trend is leaving towards long tenures. Moreover, large companies want their IT pros to work for them for long term because the knowledge of the IT architecture that the employees have will be hard to replace.
The importance of architecture is on the rise, and companies know the value of highly tenured employees. These companies look for ways in order to attract talented people and want to keep them for a long term. And when they hire someone, they want to make the part of their company.
If you want to pursue IT career, you should be flexible enough to adopt changes. This is way to stay ahead of the completion and achieve your goals. Keep in mind that you won’t be jobless if you are hardworking and talented. No matter what career you choose, you will be successful.
Indian food is loved world over by people of different nationalities. What makes it so popular is the way it is cooked; cooking Indian cuisines is nothing less than an art. It requires the right ingredients chopped and sautéed over fire and then cooked on a simmering flame with the right amount of herbs and spices. Indian food is not just rich in taste but also has an aroma that can whip up anyone’s appetite. The aroma in the food comes from spices which are used in every Indian household for centuries. They are an integral part of every dish and are loaded not just with flavors but also health benefits. Not many are aware that the reason why Indian food apart from being extremely delicious is also very healthy is because of the spices and herbs in it that have therapeutic health benefits. Some of the beneficial uses of spices and herbs used in everyday dishes are:
1) Turmeric: Turmeric has been used for centuries not just in food to give it a yellow texture but also by Ayurvedic doctors for its healing properties. Turmeric when used in food can retain the beta-carotene in certain foods. A main ingredient in turmeric is curcumin, which is a strong antioxidant and has powerful anti-inflammatory effects. Recent studies have also shown that turmeric is helpful in correcting depression symptoms. Due to its strong anti – inflammatory qualities it is highly beneficial to Arthritis patients and unlike medications, it doesn’t pose any threat to liver and other organs. Its most widely accepted property though is its function as a painkiller.
2) Cinnamon: Another commonly used ingredient in Indian household, cinnamon is also used in a variety of other global dishes. These bark shaped spices have a lot of medical benefits. They are very useful for those suffering from diabetes as they can lower fasting blood glucose and reduce cholesterol. Cinnamon also has antibacterial, antifungal and antiviral properties. In ancient times when there was no safe way to store food for a longer period of time and food could get easily spoiled, recipes were flavored with this particular spice. Even in case of common cough and cold, having cinnamon tea can be very comforting and healing.
3) Mustard Seed: They are culinary oil seeds that apart from enhancing the taste of a dish also have a lot of health benefits. The magnesium content in mustard reduces migraine and helps relieve the tormenting pain. Including mustard seeds in your dishes can also relieve you of respiratory congestion; it is also beneficial for asthma patients.
Indian food contains the above and many other spices and herbs that are included in everyday food. This makes it one of the most healthiest foods available.
If you are among those people who have a fitness goal and would really want to achieve it, you have to choose a fitness machine that you can use every day even when at home. If you do not have one, you can invest in an elliptical. The reviews have been very positive about this certain type of fitness machine. People love that it is an exact replica of machines used in commercial gyms. It is self-powered and has a slew of helpful and relevant features, including telemetry heart rate monitoring. Aside from this, an elliptical also has an adjustable cross ramp which allows you to change the height of the elliptical path for suitable moving. It also has moving handlebars which helps get your entire body moving, giving you a complete workout.
Many of the health experts these days recommend this type of exercise machine. And today, even users are also starting to love the natural and low-impact motions that make your workout go smoothly and safely. It has preset programs, resistance levels, as well as plenty of custom options and extra features not commonly found on other cross-trainers.
Professional trainers and many other fitness gurus swear by the machine, hence its popularity in commercial gyms and, now, in personal gyms as well. If you want an exercise machine that really delivers, investing in an elliptical is an excellent choice. If there’s anything that reviewers consider a flaw, it’s that it’s clearly designed to be stationary and not portable. It’s heavy, weighing more than 400 pounds. You’ll have to find the ideal place for it and keep it there. And if you wish to transfer it to another place, you really need the help of someone to move it to another place.
Another thing that greatly bothers most fitness enthusiasts is the price of the elliptical. It’s also quite expensive. Not everyone has the financial capability to make such a purchase. On the plus side, however, fitness experts endorse it as a worthy investment. It’s very effective, efficient, and long-lasting. It provides sufficient challenge to keep you engaged and much flexibility that allows you to address different fitness goals. You’ll definitely get your money’s worth and more. So for those who are planning to get fit and would love to achieve their fitness goal, investing in the right machine that really delivers positive results is such a smart move. An elliptical is just one of the most recommended exercise machines by the experts.
People collect scrap metal for many good reasons. Not only is it fun and exciting, it is highly profitable! But in order to get the most from your scrap metal experience, you must learn how to be both efficient and effective at the same time. This is because scrap metal can be dangerous to handle, and even more hazardous to transport. And aside from safety, it can be quite frustrating figuring out how to get your findings where you need them to go, quickly and conveniently. So if this pastime interests you, continue reading to learn some important tips for collecting and transporting scrap metal.
Avoid Injuries and Accidents
Although there is a long list of advantages to scrap metal collecting, there are several possible injuries and accidents that can occur if necessary precautions aren’t taken. Not only can improperly secured cargo cause a wide range of traffic accidents and property damage, incorrect handling of junk metal can cause injuries to the epidermis, back, neck, spine, and more. In fact, back pain is among the most common long-term injuries among adult men and women in the workforce. This is a possible result of genetics, improper lifting, repetitive motions, and more.
Tips for Lifting Heavy Scrap Metal
Always lift and bend with your knees to take strain off of your back muscles. This will reduce the likelihood of orthopedic injuries and pain.
Share the load with another person so that you are only lifting half the weight of the object. If you don’t have another person around, use a dolly to help lift and transport heavy objects.
Do not attempt to lift anything that is more than half your weight without another friend to help or a dolly. This is a sure-way to get injured or just plain stuck.
Don’t go alone. If you find yourself somewhere a bit rural, you want someone else around in case you get hurt or lost. Metal can be sharp, heavy, and you never know where you have to go to find the good stuff.
Tips for Transporting Scrap Metal
Always have oversized loads clearly marked with a red flag or bandana. This will alert other drivers to steer clear. It is wise to have another friend follow directly behind you in their car.
Be sure oversized loads are properly secured and tied down. Always double and triple check a cargo load before hitting the road. You don’t want anything falling off and causing a traffic accident. And in a much less serious scenario, you don’t want to lose any of your inventory.
Use high-quality cargo nets, tarps, and ratchet straps for effective tie downs and transportation. Go to your local automotive store for these products.
The best car service is preventative, not patchwork. The last thing car owners need nowadays, with increasingly busy schedules, is frequent trips to the mechanic. It’s especially frustrating with easily fixed or recurring problems. Here are some tips to avoid breaking the bank the next time your vehicle breaks down.
Check Out Reviews First
With the spread of customer reviews on the internet, it’s quite easy for a consumer to find personal accounts of a business with a quick search. On occasion, reviews will be staged or not representative of the service, but a perusal of a range of reviews may give you a reasonable expectation of what to expect. An old fashioned review from a trusted friend – especially a car lover – never hurts, either. You can’t put a price on experience.
Most mechanics will offer free estimates. It helps to get the estimate for your car service on paper as proof. This document can also be used as leverage with other mechanics. Sometimes the cheapness of the price can suggest poor workmanship, but you certainly don’t want to be swindled.
Ask To See A Certification
ASE is the most common certification, and a trustworthy business should have no issue presenting you with such certification. This will establish a baseline of experience and knowledge. A shop that possesses an American Automotive Association rating is a good sign too, as it guarantees that they have been pre-screened by an objective source.
Don’t Be Afraid to Ask Questions, Even If You’re a Novice
Beyond a price estimation, it is very helpful to ask questions that you may consider basic. Such as, which parts will need to be replaced? How long will the work in question take to complete? Can I see the problem area of the car? Even more intensive questions about the process of fixing the vehicle should not fluster a reliable mechanic. These questions will make you feel comfortable with the car service and prove to the mechanic that you take your car’s care serious.
Go With Your Instinct
This tip is harder to pin down, and will mean different things to different people, but it remains relevant. Simple things, such as the cleanliness of the shop, may be symbolic of the overall service. Furthermore, if a mechanic is giving vague answers or treating customers in a hostile manner, it’s probably a clear sign to get out while you can. Getting a car fixed is rarely a pleasant experience, so there’s no need to add extra stress to the process.
Find a Location Near Your Home
This is especially important if you don’t have a friend or family member to follow you to the mechanic and drive you home. Finding a route home or to work via public transportation may be pivotal, depending on how long the car will be out of commission.
Warranties and Specialists
This tip will mainly pertain to people whose cars need to be fixed at a dealership. It also applies to those who own a car that has to have specialty parts replaced. Do research and determine whether a mechanic has expertise in your particular make and model. Additionally, an honorable mechanic will supply warranties on new parts. Make sure to establish this warranty before they get to work on your car.
Telematics, Big Data, and Analytics are the three big important ways that are driving the auto industry forward. In this article, we will see how big data analytics, with the insights of information processing, can help transform the automotive and transportation industry globally.
The future of telematics is with big data.
Traditionally, in most automotive and transportation enterprises, specialized business processes have always been analyzed and modeled on whatever limited empirical data or contextual information was available to them. Proper data was few and far between. Or, even if the required data was available, enterprises hardly had any technological know-how with them to harness all the information necessary for their use. It was quite a difficult task to deal with such a situation where enterprises heavily relied upon conventional methods such as going through previous driving records, including taking into account people’s age and gender, locale demographics to accurately predict risk levels among its consumer base. This was something haphazard, awkward and unreliable.
Now with the advanced big data analytics, accessibility to scores of information and the science of telematics are putting the current understandings in new light, offering new conversation starters, and creating new potential outcomes that were not really possible before. “Big Data” as we know it is changing everything for the better. It is changing how the vehicles are built, how they work, how we use them and how they collaborate with everything else in this world: From vehicle-assembling to insurance underwriting, to traffic modeling to optimizing traffic routes, Big Data is changing the world of car/fleet transportation industry in a big way.
Big data analytics plays a very important role in the telematics field. The fact of the matter is that the science of telematics which involves telecommunications and vehicular technologies demonstrates how big data analytics can improve supply chain management, fleet management, increase yield and drastically reduce material costs, not to mention the quality and safety issues that never get compromised using proper big data analytics. In fact, the use of relevant data directly leads to more opportunities. It is in this context we will see how Big Data is bringing transformative elements into the various industry sectors especially in insurance, financial, automotive and transportation and other sectors and improve their business processes.
Telematics All The Way
Telematics is ushering an era of big changes. The way vehicles are insured and how they are driven or repaired are all changing for the better.
Earlier, we have seen that insurance and maintenance standards of vehicles were based on some kind of conjecture and the rough utilization of crude data that was available at hand. But with the use of telematics, a strong evidence of data is promptly accessible that can revamp entire branches of the commercial enterprises and change drivers’ driving behaviors.
Thanks to telematics, the wealth of data that can be derived from vehicles can also be made available to drivers. This is also one of the big changes that telematics promises. As far as valid data is concerned, there are simple ways people can immediately access from their connected car, and this same data can also be transmitted to the manufacturers or insurance companies for that matter. So when data is available and is accessible to users then there is going to be better understandings of their vehicles’ performance, ultimately resulting in helping drivers adopt good driving behavior. Drivers will have access to GPS-related data that will let them know their driving styles, including real-time information on fuel consumption, speed limits, hard acceleration, braking, phone distraction, etc. All this useful information can impact not only their driving performance but also can extend the longevity of their cars.
Driving Innovation and Continued Growth for Auto Insurance
To give you just one example: Consider the insurance industry. Using the great combination of telematics and big data analytics, insurance companies are able to enhance their business processes to an extent that was not possible before.
Basically, the insurance industry is based on analytics and probability. Therefore, to have a proper access to accurate and in-depth data that identifies with every customer’s lifestyle and risk always works in the best interest of the insurance industry. This is an area where telematics has been adding quite a lot of significant value propositions that matter greatly to both insurance companies and their paying clients alike.
With telematics and big data analytics, insurance companies don’t have to resort to guesswork to fix premiums for their customers. It has enabled insurers to reward policyholders, who display good driving conduct and check their vehicle health stats, with lower premiums and rebate offerings by taking the guesswork out of the equation. This is nothing but a big data approach to telematics insurance.
Telematics is a positive trendsetter and has grown exponentially in recent years. The positive impact that it has over companies and consumers alike is proving to be a win-win deal for everyone. And as far as telematics is concerned Big Data would be there too, working hand in hand. Not only consumers but automotive manufacturers and service providers as well are going to get greatly benefitted from the marriage of big data and telematics. And since the relationship is really symbiotic, big data is going to be the future of telematics. Embrace big data and telematics in a big way!