In his presentation, INFARE's Chief Data Scientist disclosed how actual Airfare Big Data and Machine Learning work and how they can help to solve the pressing challenge of Dynamic Pricing for Airlines. Real-time data access and processing design is a must and ensures airlines make the right pricing decisions at the right time.
Many things have changed in the Aviation Industry during the latest business cycle. If you take away just one thing out of this research, let it be this: Pricing, Pricing and once again Pricing is what drives the Aviation Industry profitability forward. The Smart, Dynamic, Intelligent… Nevertheless, Pricing Strategies are the necessity to navigate the next aviation business cycle.
In this case study we will be looking at how the situation has evolved during 2017 and the first months of 2018 for the route LGW – JFK. While doing it, we will not simply analyze the performance of Norwegian for the route, but also keep a close eye on the competition between Gatwick and Heathrow for the traffic to New York.
Our Analytic Team pinpointed a number of potential carriers which could start operating profitably in the route. The analysis focused on airlines’ reaction to competition, their overall price strategy, connectivity and level of price volatility.
In the aviation business no single airfare data source contains full information. As airfare data coming from different sources are not easily combined, the choice of the data becomes critical. Within this white paper we analyse different types of airfares looking at the three dimensions of information quality: transparency, consistency and accuracy.
Measuring volatility is particularly useful when developing price scenarios, which in turn are needed to thoroughly evaluate the earning potential of any route. Furthermore, together with price information, volatility can be used to provide a strong indication of the strategies used by airlines.
The aim of this case study is to analyse British Airways’ business opportunities for the route Nuremberg (NUE) – London Heathrow (LHR). As the route can be classified as a feeder route, we have considered the overall traffic flow from NUE via LHR to transatlantic destinations, as well as, the direct traffic flow.
During the webinar, we looked at how Airfare Big Data allows airports to analyse airline customers’ performance and identify new revenue opportunities. We also 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.
In this webinar we will discuss: • How historical fare can be analyzed to reveal important KPIs • How these KPIs can lead to more profitable Pricing and RM practices • How to identify the Routes where aircrafts can be profitably deployed