Tag: Data

You Don’t Know What You Don’t Know And That Can Hurt You

FareTrack
FareTrack Blog

The changing world of airline pricing and revenue management is presenting new data challenges to operators. Relying on traditional data sources could mean you are missing out on critical data to inform better decision-making. The highest selling statistics book in the second half of the 20th century was a book called ‘How To Lie with Statistics’ by Darrel Huff. One of the stories within the book was from World War II. In it, the Statistical Research Group of Columbia University had been tasked with analyzing damage patterns on fighter aircraft…

Product overview: FareTrack’s Revenue Management Business Intelligence Dashboards

FareTrack
FareTrack Blogs

Okay, we might be a little biased, but we think our revenue management business intelligence dashboards are pretty special. Not only are they powered by the most accurate, AI-driven data, they also feature market-leading visualization capabilities, plus all your data shops are easily managed through your Shop Manager. Let’s take a quick look at some of the key features of our library of Dashboards, and discover why more and more airline revenue managers are choosing FareTrack to help them boost their profitable decision-making. Fully Customizable Dashboards FareTrack’s dashboards are not…

Air travel data market set to see huge growth by 2030

FareTrack
Air travel data market set to see huge growth

Air Travel data intelligence plays a vital role in optimizing operations, improving passenger experiences, and driving profitability in the air travel industry. In a recent market report, it was revealed that the aviation analytics market, focused on leveraging data-driven insights, has experienced significant growth. Research indicates that this market was valued at USD 2.5 billion in 2021 and is projected to reach USD 6.92 billion by 2030, with a compound annual growth rate (CAGR) of 12.3%. It is perhaps not surprising that this growth is so substantial. Airline Revenue Managers, Distribution teams, and Network Operations professionals are increasingly turning to data to help them make more profitable, more efficient, and better…

When it comes to data visualization flexibility isn’t just a “nice to have”, it’s essential

FareTrack
Tableau

Data visualization flexibility is not just a luxury; it is a necessity, especially in the ever-evolving airline industry. With the introduction of NDC, increasing use of AI and Machine Learning, and other fundamental changes, the way airlines use and visualize data must undergo a transformation as well. While standardized graphs and reports have been the norm for many airlines when comparing fares against competitors, they fall short in capturing the complete story, particularly in dynamic market conditions. Consider this scenario: your current data supplier provides competitor pricing information for a…

The Impact of Events on Airline Revenue Management: Why a Comprehensive Event Database Matters!

FareTrack
Impact of events

Events have a powerful influence on the demand for airline travel. From concerts and sporting events to conferences and festivals, these gatherings draw in travelers from near and far, significantly affecting flight bookings. That’s why having a complete, accurate and up-to-date database of events is a game-changer for airlines looking to maximize revenue management strategies. Fueling High Demand: Major events act as catalysts for increased air travel demand. Attendees from different cities and countries converge to participate, creating a surge in bookings during event dates. Airlines need to anticipate these…

sandbox.faretrack.ai launches to help airlines respond to increasingly dynamic and distributed fare competition

FareTrack
sandbox.faretrack.ai launches to help airlines

Bringing new visualization and analysis tools for airlines to make it easier to compete within a changing fare management landscape Aggregate Intelligence (AI), the world’s leading data-as-a-service company, has announced the launch of FareTrack (sandbox.faretrack.ai), it’s airline fare analysis solution. AI works with some of the world’s leading airlines in data aggregation and analysis, and FareTrack is a result of years of close collaboration with key customers.  FareTrack enables airline pricing managers to visualize, analyze and benchmark future fares against accurate, customer-facing prices. It illustrates fare change opportunities using pricing…