Infare, the global market leader in pricing intelligence, is today launching Pharos, the next-generation business intelligence tool for airlines.
19 November, 2018
Pharos delivers total market insight of competitive airfares, from real-time snapshots to classic demand curve analysis. The cloud-based intelligence solution lets airlines harness the full power of Infare’s fare data – the most comprehensive, rigorously vetted and trusted source in the world. Pharos provides the key to the most profitable revenue management strategies through its rich visualisation of fare data and robust design, making it possible to identify profitable opportunities amid hundreds of billions of competitor fare observations.
“For airlines of all sizes, pricing intelligence is a crucial driver of profitability and we are a key enabler for enhancing this. With Pharos, we are launching the next-generation tool of choice for analysing competitive pricing behaviour. Carriers can earn hundreds of millions of dollars annually by using Pharos’ visually intuitive analysis functionality to unlock fare pricing opportunities through identifying and tracking competitor patterns.”
– says Nils Gelbjerg-Hansen, CEO at Infare.
Pharos can be tailored to each user’s requirements, offering the highest degree of personalisation. The software seamlessly streams, visualises and tailors rapidly changing market data from more than 1,300 sources – validated though Infare’s 45 quality criteria – to the exact needs of each airline.
Gelbjerg-Hansen adds: “With its intuitive interface and rich visualisations, Pharos makes any airline’s revenue management more efficient and thereby more profitable. The software, like all our products, is cloud-based, and complements C-suite systems, drilling down in granular detail to reveal underlying market trends and behaviour.”
To better support airline revenue management and pricing processes, Pharos allows for dynamic comparisons between carriers, using a rules-based model to instantly identify and display competitive fares. This feature automates peer group analysis, eliminating repetitive tasks and transforming revenue management effectiveness by revealing competitor pricing structures and business strategy.
“Infare is relied on by the world’s top travel businesses to enhance their market advantage, through our cutting-edge technologies and intelligent pricing insights. This latest release provides our customers with a highly advanced analysis tool, guiding revenue managers’ strategies in making more efficient business decisions,”
– concludes Gelbjerg-Hansen.
Customer led innovation brought to life. Discover Pharos today!
Every day, airlines and other stakeholders of the aviation industry are transforming an incredible amount of data into actionable information; what’s more, the rate of data consumption and processing capability is growing exponentially. At Infare we are seeing a 50% Y-o-Y increase in data consumption by our clients. Estimated ~1,3 trillion airfares provided to Infare customers in 2018 and expecting this number to double throughout 2019.
What do airlines need to maximise the financial potential of putting this vast amount of data to action?
How far has the aviation industry come with data monetisation?
In the article, the Chief Data Scientist and Chief Executive Officer at easyJet talk about their data-driven approach to revenue management systems. It is also worth stressing the addition of 28 data scientists to their Team, which makes even more explicing the need to better understand, structure and gain insight from data. Our Chief Commercial Officer, Harald Eisenaecher, shares his experience and point of view on the commercial potential of data monetisation in the aviation industry.
“We are surrounded by an almost indefinite amount of data, from an infinite number of sources. The difficulty lies in knowing how to manage the level of data to only include those that are actionable and will support the airline, without spending excessive time or money on obtaining data for its own sake. I call this Smart Data.”
– Harald E., CCO of Infare
By carefully prioritising data sources, airlines can transform data into smart data and actionable information, without it being costly or requiring a disproportionate level of effort.
29 November, 2017 The Aviation Industry uses various types of data to define both external and internal Aviation business strategies. For example, many Airlines and Airports are gradually funnelling personal data into a customer service strategy – with flight attendants becoming the face of hyper-personalized service. There is more to Business though. […]
21 November, 2017 Infare Analytics Team released a Case Study to find out if Norwegian Bet on low-cost, long‐haul flights has the potential to live up to the title of “Airline of the Year” granted by CAPA-Centre for Aviation. The United States and Latin American expansions are big priorities for Norwegian, as it […]
27 October, 2017 As other European airports, Vienna has enjoyed two years of extremely successful business operations and exhibited a great overall route potential. Vienna Airport surpassed the threshold of 23 million passengers in 2016 and registered a year-over-year growth increase by 7.6% during the month of June. Interestingly however, passenger traffic on the […]
For the 5th time the China Airline Revenue & Pricing Management Conference will gather industry experts from all of China for two days of knowledge sharing and meetings.
The Conference will focus upon reservations and revenue management systems issues for the airlines in China. A one-stop shop to review and demo the latest cutting edge technology, designed to streamline and increase airline revenue, as well as reduce costs dramatically.
Our Travel Expert Eddie Leung will be your go-to person to find out how we can support your air services.
Do not miss the chance to connect before the event to schedule a demo:
World Routes 2018 is the global meeting place for airlines, airports and aviation stakeholders. During this three-days-event international industry experts will share valuable insight into a number of key air service development issues currently affecting the route development community.
We are looking forward to meeting you there and diving into discussion about your air services, their development and how to maximize their profitability.
The Aviation Festival is one of the largest and most established aviation and travel technology shows in the world. We are happy to announce that we gathered a real dream team to attend the event this year.
Connect and meet with these travel industry experts at the 138a stand:
Esra Buge is one of our most experienced sales executives with global accounts and an extensive background in pricing and revenue management.
Ian McKee is Product Manager at Infare and is in charge of Pharos, our cloud-based airfare pricing intelligence product.
Jonathan Burke, an account manager, is based in the UK and the go-to person for our Vacation product which provides full transparency of pricing across vacation offerings including component breakdowns of vacations, flights, hotels, car rental, etc.
Join us at 138a stand and discover what a game changer Airfare Big Data is for airline and vacation pricing, learn how we bring pricing intelligence to life through visualization and machine learning, get to meet some of our industry experts and be part of our vision for the travel industry.
Bryan Wilson, former British Airways Director of Information Management and IATA CIO & Director of Industry Architecture, moderated and summarised Josef’s speech – “That was fascinating insights into the ways forward on dynamic pricing.” Make sure to watch the keynote till the end to hear the full commentary by the industry expert.
We took a closer look at the past 8 years and tried to pinpoint the main changes that took place since the last financial crisis. The paradigm shift observed between 2010 and 2018 not only allowed airlines to remain profitable business beside all the odds but resulted in Dynamic Pricing being one of the drivers of airline’s success during the upcoming business cycle.
The past years have been ‘as good as it gets’ for the aviation industry: continuous growth in passenger demand, the relative health of airlines, availability of funds and new investments into the sector. It is tempting to question whether the cyclical nature of the aviation industry has been eradicated or, at the very least, redefined.
First of all, let’s address the elephant in the room: what goes up, will eventually come down. It might not be an absolute truth in all cases. Still, it would be naive to ignore the cyclical nature of the airline business. Each Airline business cycle lasts roughly 8-9 years. The last down-cycle was as remarkable as the financial crisis in 2008 (2000-2009). Fast forward, 2018 marks the 8th /9th year of the current cycle. The ending of the Airline business cycle might coincide with end of businesses, mergers or some significant restructuring. However, it could also mark new beginnings and fantastic opportunities.
As Khanh T. Tran, the CEO of Aviation Capital Group (ACG), stated in The Aviation Industry Leaders Report 2018, current triple-C threat (capacity, cost and competition) will morph into a triple-A opportunity (attractive asset acquisition) for those who have equity, expertise and experience through a down-cycle.
Top industry players, who have been around for multiple cycles have a sharp eye for the opportunities even when the market looks less appealing. As counterintuitive as it may sound, this might just be the perfect time to ‘go shopping’ for those having the right mix of equity and expertise.
As Churchill said: ‘Those who fail to learn from history are doomed to repeat it’. We decided to take the man’s advice and looked back to identify what changed the most in the aviation industry during the current cycle (2010-2018).
As the online landscape reached its maturity, airline customers usage of travel agents for flight booking decreased by more than 500% from 2008-2017, going from 51% to a mere 8% during the decade. It is a significant change in history bringing customer even closer to an airline business. Already in 2010, 40% of both business and leisure travelers were turning directly to the airlines’ websites to research their trips. Fast forward, in 2018, airline customers produce a massive amount of data which combined with the third party, social or frequent flyer programs data allows airlines to enhance customer experience significantly.
During the past eight years many things have changed, and it is easy to pinpoint some of the most remarkable: the advancement of airline-customer relationship and the skyrocketing of online booking. The rise of the digital market place and the proliferation of online channels pushed airlines to rely ever-increasingly on airfare analytics to benchmark competition and offer better deals to their customers.
What’s more, airlines have become more and more customer-centric. Satisfied customers repeat purchase and recommend your services to others. The price of the ticket is one of the most critical factors for airline customers. To make a successful forecast airline needs to identify “happy airline-happy customer” moments which worked in the past to replicate or perhaps fine-tune them going forward.
At which point did your customers determine the most significant increase in your revenue?
What ticket price was offered by your competitor at that exact moment?
Which pricing approach did work at the end of the last cycle?
Successful forecasting starts by looking back to find answers to these questions. Because of the massive amount of people migrating online to book flight tickets, the current cycle produced an insurmountable amounts of airfare information. During the past year, we observed several top industry players doubling the number of airfares analysed (with an average Y-o-Y increase of 50%). Moreover, over the past 15+ years, our Historical Airfare Database has been growing steadily to reach the record number of 1 trillion historical airfares. Still growth never stops, and we keep adding to our historical airfares 2,000,000,000 airfares each day.
Considering the pace of tech developments and the growing relevance for Pricing Intelligence and Dynamic Pricing Strategies airfare-based Market Pricing Insight will no more be a ‘nice to have’, but rather a necessity. It’s safe to say that the paradigm shift observed between 2010 and 2018 not only allowed airlines to remain profitable business beside all the odds but will result in Pricing driving airlines success during the next business cycle.
Achim Tyler joins Infare as Director of Global Business Development & Sales Steering
The Infare Team just welcomed one more expert of the travel industry: Achim Tyler joins the commercial team as Director of Global Business Development & Sales Steering. Achim brings more than 17 years’ experience as a leader in the Travel Technology and the Online, and Leisure travel space.
“Big data is critical for a lot of business decisions not only in the travel industry. I firmly believe that I can support Infare in expanding their target groups and achieve ambitious growth plans in the future. It is exciting to see the vast potential and to join a fantastic team which likes to make things happen. Looking forward to increasing the global footprint of Infare in the travel industry. “
– Achim Tyler, Director of Global Business Development & Sales Steering
Achim is highly skilled at increasing revenue for global organisations. Adept at formulating strategic plans and targeted marketing concepts in product assortment, product enhancements, distribution and customer service. An innovative, self-motivated category manager with a unique ability to combine competitive analysis, statistical data and excellent relationship skills into bottom line results.
Achim will drive our sales within the areas of sales steering and operations, pricing excellence and customer segmentation. He comes to us with an impressive background in sales, marketing and business development expertise and leadership capabilities. He is a truly global citizen having lived in Hamburg, Dallas and London.
“I am thrilled that Achim will join us in the global business development and sales steering area. Achim comes to us with an impressive background in sales, marketing, business development expertise and leadership capabilities in the travel/travel technology arena. He is driven by customer centricity, has excellent analytical skills and is very talented in looking for additional growth opportunities. His arrival comes as part of our investment to scale the global commercial team.”
Airfare data is highly relied upon by airlines for pricing activities and route profitability studies. In this webinar, we looked at how Airfare Big Data allows Airports to:
Analyse airline customers’ performance.
Identify new revenue opportunities.
The webinar is free and all we ask for is your contribution to make our BI Experts happy. How to do it? Easy, ask new questions and share with us your feedback at email@example.com!
During the webinar we analysed one of the most celebrated success stories of the past months: Norwegian’s long-haul operations from London Gatwick to New York J.F.K. We looked at how to evaluate the airline’s performance and its impact on Gatwick’s operations. Furthermore we took a closer look at the implications for airports sharing the same catchment area.
Proactively manage existing customers. The Norwegian Bet on LGW: Has the honeymoon ended? (2017-2018).
Overview of Altus – The Big Airfare Data Analytics for Airports.
Q&A with our BI experts.
In the last part our experts answer 16 questions!
Here is a list of the most interesting ones:
Is Infare only able to analyse past fares or it is possible to also look at the future fares as well?
What if the route airports are interested in is not in the system?
How frequently is the data updated?
Can the system be used to look at a whole portfolio of routes?
How do you calculate the average for each day in history when looking back or looking at airfares backwards?
Can the system compere more than two routes?
Can the data be used for forcasting?
Can Airline input their own data or are they just able to use the data from Infare?
Does Infare also collect data from OTAs for a specific route?
Does any of the questions sound interesting? We answered even more than that!
You can also download the above mentioned Case Study from Infare LEARN.
This semi-annual meeting is one of IATA’s largest events. Moreover, The Slot Conference (SC) is not like any other conference – it is a “Working Conference”. The goal of the event is for airlines and airports to negotiate the slots that will give them the best possible schedule to offer their customers.
The 142nd Slot Conference will take place almost exactly halfway between Europe and the Asia Pacific region – Vancouver, Canada! Our BI experts will be there to provide a framework for airlines and airport to assess, and design route & slot strategies.