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…

Air travel data market set to see huge growth by 2030

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…

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…

Meet us at Aviation Festival Americas 2024

We are proud to announce that FareTrack will be exhibiting in the upcoming Aviation Festival Americas, on May 15-16 at the Miami Beach Convention Center. As one of the significant trade shows in the aviation industry, the festival provides a great platform for industry leaders, innovators, and enthusiasts to come together and explore the latest trends and advancements shaping the future of aviation. At FareTrack, we are dedicated to revolutionizing the way airlines access and utilize fare data. Our mission is to empower businesses with actionable insights and intelligent solutions…

The Concept and Evolution of Open Pricing in the Airline Industry

In recent months, the FareTack team have spoken to many airline revenue managers about their revenue management strategies, and one key area that has been a frequent topic of discussion is the concept of open pricing. Unlike traditional methods, Open Pricing allows airlines to adjust fares dynamically in response to market demand, competitor pricing, and individual customer profiles. This flexibility promises a more tailored and optimized pricing strategy for airlines, departing from the rigid approaches of the past. The Evolution of Pricing Strategies The journey towards Open Pricing began with…

Solar Eclipse: A New Airline Revenue Management Strategy?

On April 8th, a total solar eclipse will take place. Not only is this an awe-inspiring natural phenomenon, but it is also causing quite a stir among air travel passengers, as many, desperate to get as close to the action as possible, look to air travel during it. This has, of course, led to a spike in demand for flights, and airlines have been quick to capitalize on this demand to optimize their pricing. So, it begs the question, is a natural phenomenon such as an eclipse, Aurora Borealis, or…

The Future of Airline Ancillary Revenue: A Personalized Journey

In recent industry gatherings attended by the FareTrack team, one topic has consistently stolen the spotlight: ancillary revenue. The discourse surrounding its remarkable growth, future trajectory, and, most importantly, the strategies for revenue managers to bolster their ancillary revenue has been fervent. In this article, we provide a panoramic overview of the anticipated evolution of ancillary revenue and delve into the fundamental concepts propelling this transformation. In the coming years, we can expect to see a significant shift towards a more personalized and data-driven approach to ancillary offerings. The concept…

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…

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

Understanding and managing “screen bias” is crucial for airline revenue mangement. 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…