Key market data and comparative performance must be in the hands of airline decision makers in order to drive growth and revenue
In a competitive marketplace, it’s essential that airlines can benchmark their own performance against the comparable market and get an executive display of market data to make strategic decisions – quickly. When understood correctly, data is a powerful asset that helps airlines make faster, well-informed choices about their business. If airlines can compare market position and performance on a daily basis, understand which channels and locations sales are coming from, and compare past versus current performance, the benefits are clear.
Amadeus’ new data intelligence tool Booking Analytics, which launches today, has been developed to help airlines achieve this competitive advantage – it benefits from the very latest in big data technologies, and allows airlines to extract new opportunities for growth from existing Market Information Data Tapes (MIDT) data from over 600 airlines.
Whether a senior executive or a business analyst, users can visually monitor bookings – per route, per airline, per booking class, per agency point of sale, among other criteria, and act upon them. It also enables airlines to better manage inventory by adjusting their booking class offering, allows carriers to monitor passenger volumes right down to an Origin and Destination (O&D)* level and offers visibility to point of sale level where available. Booking Analytics can also inform decisions on network planning, such as the opening of new routes, schedule changes, and codeshare alliances.
Pascal Clement, Head of Travel Intelligence, Amadeus, said: ¨Booking Analytics puts vital information about an airline’s performance against the market in the hands of decision-makers, on demand. Senior executives will be kept up-to-date, even on the move, with insights on key market metrics for their airline. This information is displayed on a user-friendly, customisable dashboard via an Amadeus-hosted web portal application, which is accessible from anywhere. It can be viewed easily on tablet devices, with all key metrics available at a glance. Put very simply – this will allow executives to make strategic decisions, such as adapting pricing and marketing strategies, quickly and effectively.”
Mr. Jack Li, Director, International business division, Hainan Airlines explained: “Understanding our business’s performance in the context of the wider marketplace is essential as we develop and refine our business strategies. Amadeus Booking Analytics allows us to understand exactly where our bookings are coming from, both in terms of O&Ds and points of sale, and how this compares to others in the industry. Armed with this information, we can make strategic decisions more effectively to maintain our competitive edge.”
Business analysts will not only benefit from the predefined dashboards, they’ll also be able to fully customise their display with an intuitive drag and drop capability, whilst being able to filter the information based on any criteria of their choice. The Booking Reports Composer module as part of Booking Analytics allows analysts to access and add any of the MIDT fields to their reporting requirements. They also have the added benefit of being able to save, export and share their reports internally with peers at the click of a button.
Booking Analytics is a new solution within the Amadeus Airline Market Insight suite, which enables airlines to better understand broader market dynamics, gain industry intelligence and therefore be more competitive. The Airline Market Insight suite includes MIDT data, Global Booking Processing, Booking Analytics, Traffic Analytics, Schedule Analytics and Search Analytics. Each solution in the suite is designed so that it can be adapted to each airline business and technical context.
*Origin and Destination (O&D) signifies the originating city and the true final destination of travel, after any stopovers and/or connecting flights