Datalex: Sponsored Feature
AI-driven pricing will out-perform traditional revenue management and pricing processes, but it doesn’t replace the human. product across the network is a journey. Datalex ingests the airline’s data and we use it to train the AI models. Does this solution replace the human? No. AI-driven pricing will out-perform traditional revenue management and pricing processes, but it doesn’t replace the human. AI is more about driving efficiencies within revenue management by achieving greater output in less time and at a much lower cost. And because it does not necessarily need to be deployed across the entire network it allows revenue management professionals to put all their time and energy into pricing the markets that matter the most while the AI prices the rest. Thus, also driving greater human output. This product doesn’t claim to replace your
airlines.iata.org
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revenue management team. Rather, it will work as a collaborative team member to scale decision-making, make it smarter and in real time. Airlines trust Datalex Pricing AI thanks to advanced drift detection techniques and parameter safety nets that give airlines peace of mind that they are very much in control. How will your solution develop? Datalex demonstrated a significant revenue uplift for an airline when it completed a production trial in 2021. Our Pricing AI product will be officially launched and in production by summer 2022. We have a very ambitious roadmap to extend to more price influencing factors, such as competitive pricing and consumer willingness to pay. We surveyed airline executives at the end
of 2021 and the research found a number of factors that are important to them when determining price. These inputs include (but aren’t limited to) government regulations, new market penetration pricing, and customer reaction and sentiment. Our product will develop in line with market needs, taking into account the multitude of factors that airlines deem most important to determine their price. Airlines can choose as many or as few markets across their route network as they wish to use Pricing AI, which replicates and scales in-house intelligence. Keep your best people focused on your best performing markets and Pricing AI will take care of the rest. The Datalex webinar for airlines, “From incremental to exponential: The power that AI-driven airline pricing has to transform and supercharge revenue management strategies”, will be held on Wednesday July 6th 2022
2022 – 02 Airlines
24/05/2022 16:36