The three major U.S. airlines are top performers even as airlines around the world increase their ancillary revenues by nearly 21%. IdeaWorks Company has r
“Ancillary revenue is an increasingly important indicator of commercial success, and a major contributor to the bottom line of airlines across the globe,” says Michael Cunningham, Chief Commercial Officer at CarTrawler. “The secret to unlocking this revenue stream can be found in the data that customers generate with every transaction.”
Airlines are getting smart about gathering data of our preferences when we book and when we fly, using a variety of sources including web-page reservations systems, mobile apps, and the sales of inflight products and services as well as advertising on in-flight entertainment systems.
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With the advent of Big Data and faster and better data processing capabilities we are seeing a surge in predictive intelligence solutions; everyone is trying to predict the future to their advantage. The question though is, are they? Can the future be predicted? The main issue I have with predictive intelligence and “the next best …
The biggest shortcoming of predictive intelligence is that it looks for buying patterns to make “relevant” offers. The idea is that if it happened once in the past, will happen again in the same way.
The main problem of Predictive intelligence is that it is not possible to complete replicate twice the context and intent, the most advanced predictors of behavior, in which the buyer acts.
A new model, anticipatory intelligence, tries to account for context, intent, but more importantly for the many different possible scenarios – instead of next best step, tries to derive next most likely scenarios all with different likelihood of happening, and present them all as anticipatory steps.
This article is meant to help business leaders understand the analytics opportunity and techniques. All the while, providing a reference for Data Scientists and technical leaders to use as they try to distill immensely complex subject areas into comprehensible bite-size pieces.