Identifying new opportunities for growth has always been a strategic priority for airlines. Understanding how traffic on a given route is changing, the sales channels that are growing, and how this compares to the wider marketplace allows airlines to take action to stand out from the competition and secure new revenues.
At the same time, moving to seize these opportunities involves many decisions and poses numerous questions across diverse parts of the business: which destinations should you make the focus your seasonal marketing campaign? Should you schedule an additional daily flight on a fast-growing route? Which points-of-sale are outperforming last year’s numbers?
In the age of big data, airlines have an unprecedented opportunity to make sense of the information that will answer these questions. Our new solution, Booking Analytics, empowers airlines with the very latest in big data technology to extract new and specific opportunities for growth. The information is gathered from existing Market Information Data Tapes (MIDT) data from over 600 airlines, giving airlines unrivalled visibility to make better-informed strategic decisions.
Booking Analytics arms airlines with the right tools to be more competitive in a crowded marketplace. For example, the solution can help airlines to better manage inventory by adjusting their booking class offering, which in turn helps them maximise revenue. It can also inform decisions on network planning, such as opening of new routes, schedule changes, and codeshare alliances.
The solution allows carriers to monitor passenger volumes right down to an Origin and Destination (O&D) level, allowing them to instantly compare slots and schedules minute by minute. With the flexibility to adjust the business rules, airlines can ensure they’re making informed decisions based on accurate data that reflects true competition. By accessing the full library of MIDT sets, users can customize dashboards and use the data to feed into their own business applications.
Data is only valuable when it can be easily shared and understood. Thanks to the user-friendly dashboards of Booking Analytics, anyone from senior executives to business analysts can use the solution to visually monitor bookings per route, per airline, per booking class, per agency point of sale and many other dimensions.
The solution’s dashboard is fully customizable, so that individuals can tailor it to meet their own needs. Displayed via an Amadeus-hosted web portal application, the solution can be accessed from just about anywhere, and is designed for easy viewing on tablet devices.
The ‘holy grail’ for airlines when it comes to data is to have the flexibility and insight to respond to changing market dynamics with faster, well-informed decisions. Booking Analytics puts vital information about an airline’s performance in the hands of decision-makers, on demand – so that they can act quickly and confidently for business success.
You can find out more about our Travel Intelligence products for airlines here.