Cirium, the aviation analytics company, has today announced the acquisition of Migacore, a travel technology start-up.
Migagore demonstrates how applying advanced machine learning (ML) techniques to online data sources can help airlines stay ahead of changes in passenger demand.
It has worked with some of the world’s most advanced carriers, such as Lufthansa and Singapore Airlines, to translate data from online news, search, social media, events and exhibitions, into signals that can help predict real-world travel demand.
The Migacore team will not only gain access to Cirium’s data and resources, but also to the group’s commercial reach across global aviation.
Kevin O’Toole, Cirium chief strategy officer, said: “The airline industry has been experimenting with new sources of demand data for some time, but the pandemic has now made this an absolute necessity. Past booking patterns today give virtually no guide to current demand.”
“Migacore is not alone in looking for new demand signals, but it really stands out. Their airline partners were clearly impressed with how the team had taken time to understand and integrate with the highly automated workflow around Revenue Management. And we were impressed too.”
“Integrating our forecasting capabilities into the Cirium portfolio will bring forward the new model that the market has needed for some time, allowing airlines to better forecast the intent to travel.
Abheer Kolhatkar, Migacore chief executive officer and co-founder, said: “Ultimately that means better matching between market demand and the airline offer, which should be good for travellers and carriers alike.”