Forecasting, Fine-Tuning, and Embracing Tech for Airline Revenue Management Strategies

Modern airlines must innovate continually to optimize revenue management. This includes implementing effective forecasting methods, utilizing advanced data analytics, focusing on rank management, and embracing new technologies with flexible infrastructures. Let’s delve into key strategies for enhancing airline revenue management. Effective Forecasting for Airline Revenue Management Accurate demand forecasting is vital for revenue management. Two critical factors to consider are the data sources used for decision-making and the logical responses to demand fluctuations. For example, during high-demand periods, increasing fares can capitalize on the surge in bookings. Conversely, during low-demand…

Product overview: FareTrack’s Revenue Management Business Intelligence Dashboards

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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…

Data Shopping – An Essential Tool for Airline Revenue Management, Distribution, and Network Operations

When it comes to data, we believe flexibility is key; in fact, it’s a driving force behind pretty much everything FareTrack does. We offer flexible analysis; our Business Intelligence dashboards can be infinitely extended and customized with your own data. We offer flexible pricing, with no setup fee, that scales with your requirements, and now we offer flexible data management through our Shop Manager. Our Shop Manager is built around the concept of Data Shopping, i.e., the ability for air travel professionals to completely manage the build, scheduling, delivery, and…

Navigating Screen Bias: A Must-Read Guide for Airline Revenue Management

Screen Bias for Airline Revenue Management,

Understanding and managing “screen bias” is crucial for airline revenue management. Our latest eBook delves deep into the evolution of this concept, from the era of Computer Reservation Systems (CRS) to today’s digital realm dominated by Online Travel Agencies (OTAs) and Metasearch engines. The Origins of Screen Bias: From CRS to Modern OTAs Originally rooted in CRS, screen bias was a tactic used by airlines to prioritize their flights over competitors’, significantly influencing booking decisions. Today, this dynamic persists in the digital era but with more intricate mechanisms involving search…

How FareTrack is Helping Small and Start-Up Airlines Meet the Challenges of Modern Revenue Management

In the dynamic world of air travel, small and start-up airlines face unique challenges that demand innovative solutions. With markets characterized by intense competition, dynamic conditions, and the constant need to monitor competitors, modern airline revenue managers are acutely aware of the importance of effective data-driven strategies. Many smaller and start-up airlines are recognizing now that the way they have used data in the past must be adapted to meet the needs of a modern market, changing customer demands, and even fiercer competition. For many airlines, the traditional approaches to…

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

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…