Demand forecasting is important in any business, but it’s particularly complex for airlines. A better understanding of the future means airlines can put on additional flights, manage their inventory better and update their marketing and pricing strategies. Doing this manually these days is inefficient and will miss out on thousands of opportunities.
Aviation Rank™ is a breakthrough for airline demand forecasting. The way the aviation industry currently anticipates demand relies too much on manual searching and guess work by revenue analysts, often on their own.
Here’s how airlines can try out a new way to know and prepare for demand in Amadeus’s Altéa Suite.
The Amadeus + PredictHQ partnership
We partnered with Amadeus in the middle of 2018 and have been providing our verified event data to inform some of their services.
Today, we’re excited to announce Aviation Rank is powering their newly launched feature – Event Monitoring – in their passenger service system Altéa Suite.
Event Monitoring lets airline revenue analysts know at a glance how much additional demand an event will create on their routes. No more googling for events, no more guessing, no more missing demand spikes you could have seen coming. It creates the ability to instantly know which events are most relevant to them and worth focusing on so they can adjust their load factor, supply chain and marketing.
Altéa Suite is used by more than 70 airlines, all of which can turn on Event Monitoring almost instantaneously by simply contacting their Amadeus point of contact or our team. Because we’ve done the work to set up the connection, all customers who use Altéa INV and the Amadeus Retailing Platform will be able to take advantage of this integration with minimal fuss.
What is Event Monitoring?
Event Monitoring gives airlines the ability to see key events coming up. This is powered by PredictHQ and Aviation Rank helps users understand at a glance how significant an event could be.
Access to this verified demand intelligence means revenue analysts can switch from reactive to proactive as they can spend more time steering flights and less time searching for events.
Here’s Altéa Event Monitoring in action:
Event Monitoring enables airline revenue analysts the ability to increase their event visibility with a flick of a switch. But for airlines that want to dive deeper into our data and really turbocharge their demand forecasting, they can also contact PredictHQ to set up a Data License.
We anticipate many airlines, especially larger airlines with well-established data science teams will also require a PredictHQ Data License – which enables them to save and store our data, to include the API directly in their production environments and use it to build their own models and secondary products.
How Aviation Rank™ works:
- Built on top of our millions of verified events, Aviation Rank™ is a predicted impact score calculated by advanced machine learning models.
- It ranks each event on a logarithmic scale of 0 (no impact) to 100 (major impact).
- It identifies around 3000 high-impact events each month – each offering multi-million dollar opportunities.
- It also enables airlines to identify clusters of smaller events that cumulatively have a very large impact. These are virtually impossible to find without PredictHQ’s aggregation and ranking systems.
You can find out more about how Aviation Rank works in this post by our Chief Data Officer Dr Xuxu Wang.
We are excited to be offering Amadeus Altéa customers an opportunity to begin using our demand intelligence in a system that is familiar and already integrated into their day-to-day.
To turn on Event Monitoring, get in touch with your Amadeus point of contact or with our team here.
Find out more about how airline revenue analysts use our events, check out this article detailing how airlines use events to drive more return.