Infare took centre stage twice at this year’s World Aviation Festival in London last week – which it said demonstrated the growing appetite for reliable and instant pricing insights by airlines worldwide.
The company’s chief commercial officer, Harald Eisenaecher, spoke in the show’s Technology Track on 5 September on ‘The Future of Pricing Intelligence in the Age of NDC, Personalisation and Machine Learning’.
He also took part in a panel discussion on the same day, along with leaders from Accelya, Allegiant Air, Transavia, Navitaire and Wizz Air, exploring the impact of digital technology on low-cost carrier (LCC) competition.
He said the demand for insight into the benefits that data can bring to the global aviation and travel industry at large “is a key turning point” and was being overtly demonstrated at the World Aviation Festival.
He added: “We know that LCCs in particular are already becoming successful in emulating the data-centric mindset of e-commerce giants to generate additional revenue channels and increase customer satisfaction through personalised offers.”
Through its own research, Infare is noticing a rise in LCCs going one step further and implementing machine learning and business intelligence tools to aid with their growing airfare data consumption, which is increasing at three-times the rate of network carriers.
Infare said e-commerce players are very data-savvy, using more data, AI and technology but airlines need to be more data hungry as well. LCCs are faster in applying pricing intelligence as they consume data more often. The usage of Infare’s products is an important driver of e-commerce standards in the airline industry.
Eisenaecher continued: “We’re seeing a shift particularly with LCCs striving to meet the new demands of their customers, who now expect personalised offers to be a core part of their experience.
“Airlines have an abundance of transactional information about their customers and it is vital that they utilise this knowledge properly. At Infare, we unlock this data for all airlines and package it up in a manageable form, providing truly unique insights for each individual airline.”
Infare is a data and technology partner for airlines, airports and online travel agents globally. It feeds and advanced analysis tools to support revenue management, pricing and route development decisions.