Do you know that ‘Predictive Analytics’ and ‘Big Data’ are now combined to drive up airline ticket fares?
To deeply understand how big data is playing a mounting role in today’s flight booking engines, we have to break down how data is from passengers is used, studied and overlaid with other datasets to draw a picture of who a passenger is, what is the motivation behind buying a particular product.
“The key insights, customer details, and your holistic overview can be applied to direct booking channels (that are designed to modify pricing for your personal conditions at that very given moment). Everything is done through individual & customized pricing”
Usage of Airline BigData
Let’s consider the below scenario –
The airline has information that when you fly AXN-KLF, it’s always a business trip. They also have access to the following data:
- How much you have paid for the tickets (what you find agreeable to pay), historically
- The number to times you search for a flight before purchasing a product and how far you get each time through the booking process (from other data they can estimate when you are most probable to continue with the payment)
- Times when the prices are higher than normal and you adapt the purchase (what exactly you are willing to pay?)
- Where your cursor hovers the most (if using PC)
- Other people like you are willing to pay for the same flight (including factoring in time/day, flight loads, season, month and aircraft type)
- Colors to which you did most actions tell many things about you. Each individual has a unique reaction to a specific color. Do you have color-blindness? Airlines can figure this out with data and display the most suitable results for you.
- Is there any event in your destination city and the chances you need to be there on a particular time/day?
Wait, there’s more!
How motivated you are to retain your current status or to reach the next level of status.
Do you have a seat obsession? If your seats are taken, you are less expected to fly.
How motivated your friend/family are to retain your current status or to reach the next level of status.
The loyalty/share wallet that airline has over your expend on a particular route (already available information for that airline)
The number of times you have been upgraded for a free upgrade and used certs/miles to upgrade & your willingness for paying extra to go further with upgrading process.
Third party cooking data/tracking to picture your browsing behavior in the 100’s of pages directing to the purchase
Have you ever checked, hovered, or even purchased insurance while booking your flight ticket?
Have you confirmed any hotel booking in the arrival city?
What Airline Big Data Looks Like?
And the original flight you searched?
The fares “elevated, but in genuine conditions.”
That’s what airline mention as the holy grail of big data – you’re a valuable and happy customer and the airline can extort supplementary returns from you in a measured and meaningful manner.
Airlines have a plan, procedure and technology all they need is the one who can control everything.
So, go for Big Data training in UK; imagine what data you could utilize to win customers and develop brand loyalty. ExistBI offers a huge variety of data analytics courses from Informatica training to SAP BusinessObjects training in the USA, UK and Europe. Contact our team of experts for more details.