Over the last two years, the airline industry has undergone a fundamental change. Curtailed corporate travel, staffing struggles, and cross-border restrictions have impacted all segments of the industry and will continue to have an impact, even as the health crisis subsides. Our embedded microservices architecture can deliver the modular AI needed to boost existing systems to meet the challenges.
Our goal: To help carriers and travel retailers optimize the travel experience
DataPrime leverages proven AI and Machine Learning to enhance consumer value, enrich the customer experience, and drive profitable growth for travel providers. Our predictive ACMs (Analytical Components and Methods) provide immediate impact, while learning how to improve how airlines and travel retailers present the customer with a bundle of products and services tailored to their known preferences and the context of their trip, at the right time in the customer journey, and at a price that balances profitability with probability of purchase.
Who we serve
- Maximize profitability with technology and analytics that enable incrementally-better revenue decisions
- Enhance customer experience and drive loyalty and repeat purchase
- Ensure technology infrastructure is scalable and driving incremental revenue
Air Travel Marketer
- Identify and track ROI on marketing efforts to ensure marketing dollars are having desired reach and impact
- Ensure packaging and promotion efforts drive incremental demand and profitability
- Leverage customer preference data to drive engagement, purchase, and follow-on business
Air Travel Retailers
- Enable flexible bundling of products that drives customer affinity and incremental margin
- Better understand customer segments and how they behave to optimize offerings and promotions
- Enable advanced bundling of products to create unique customer offers and a competitive advantage
DataPrime forecasting solutions provide improved visibility into expected demand utilizing a suite of forecasting algorithms to halve your current forecast error. Our predictive ACMs isolate the factors that drive behavior through data-driven customer segmentation and accurately predict final demand across each segment.
Forecasting is never easy, but our modular approach allows us to have models up and running and providing improved visibility (and up to 50% reduction in forecast error) in weeks, not months.
Leveraging explicit measurement of price sensitivity and incorporation of real-time competitor pricing, DataPrime's Price Optimization ACM brings together machine-learning enabled demand forecasting, price sensitivity measurement at the customer/segment level, and market rate intelligence to determine optimal pricing, accounting for incremental costs and cross-elasticity between products and fare types.
Implementation of this approach and implementation in the travel and transportation industry have driven revenue improvements of 3-4% and more than $100M annually in individual customer benefit.
Context-Based Dynamic Offers
Traditional revenue management and pricing approaches and systems cannot meet today’s challenges, much less those coming in the next 5 years. Within the airline industry, carriers and travel retailers are looking for capabilities that optimize across the customer experience. Increasingly, they are focused on the benefits of a holistic approach across three areas: Offer Generation, Ancillary Bundling, and Dynamic Pricing.
Our Context-Based Dynamic Offers capability uses AI and Machine-Learning enabled analytics to present the traveler with a bundle of products and services, tailored to their known preferences and the context of their trip, at the right time in the customer journey, and at a price that balances profitability with probability of purchase.
Passenger Airline - Context-Based Dynamic Offers
Passenger Airline seeks dynamic offers and product bundling capability that optimizes across the customer experience
Existing airline retailing solutions focus on Processes, leaving gaps in content optimization
Airlines struggle to create the right rules to instruct offer creation and price adjustments
Instead of a holistic offer optimization, this platform still inherits the suboptimal philosophy that determines pricing, availability, and ancillary products separately
Delivering a holistic approach to dynamic offers, our team provides three analytical capabilities
Offer Generation - Customer selection of flight seat and other amenities, as well as additional travel products
Ancillary Bundling - Addition of ancillary products, including upgraded access and products, additional bags, and meals to customize the travel experience
Dynamic Pricing - Based on selected travel offers and ancillary products, an optimal price is calculated
Dynamic Offers allow airlines to present a preferred bundle of products according to the context of the customer’s trip at a price they’ll accept
Implementation of approach results in an industry-first dynamic bundling capability
An additional $24M annually is driven by higher take rates and more profitable bundles