We’re creating a more connected travel industry, underpinned by sustainability and long-term investor relations.
Vice President, Revenue Optimization, Airlines Solutions, Amadeus IT Group
Airlines have always been innovators. Offering digital products to travellers even before the internet existed; racing ahead of many industries in leveraging customer data and not afraid of using technology to do things differently.
With the travel industry booming, airlines are faced with a fresh challenge of serving a growing level of demand. But how do you deliver the right offer, to the right traveller, at the price, at the right time?
The Amadeus Revenue Optimisation Forum 2017 brought together an array of our innovative airline customers with Amadeus experts, to unpick how airlines can most effectively create, market and price offers to ensure they enhance the revenue on their products and stay competitive.
Revenue management is not new, in fact it has been evolving over the last forty years. However, it is no longer the only tool airlines require to ensure they are delivering a product their customers want while gaining the right return. Thomas Fiig, our Chief Scientist, explained that by harnessing new technologies such as machine learning, airlines can do away with forecasting fares and let intelligent algorithms predict the best way for airlines to price both their seat tickets and their ancillaries.
However, many of the presenters stressed that while optimising offers in comparison to the market and network is fine; airlines must ultimately keep the customer at the heart of their revenue management strategy. It was agreed that this involves not only rewarding loyal customers, but truly understanding the segment each traveller falls into, in order to offer personalised experiences that suit their needs.
In order to solve the complexity of these problems and manage of all this activity at speed, airlines need a partner that will walk side-by-side with them through their revenue optimisation journey and who understands the complexity of the change process required.
It was great to see so many airlines in one room, engaged in collaborative and open discussion on how total offer optimisation can be achieved. By working together, we hope to usher in a new era of revenue management, with the traveller at the heart of the process. I invite you to see our recent research on the topic for more information.