Skyscanner has opened its doors to provide big data access to travel players such as airlines, airports, and tourism marketing organisations. By providing a new statistical software tool, it allows businesses to make use of Skyscanner’s airfare data, to more accurately model trends in travel demand. This a major move that has the potential to significantly impact the forecast and planning processes of travel companies. In a Tnooz interview, Filip Filipov, Skyscanner’s new head of B2B, says the company will soon launch a website that gives industry players access to its statistical data.
New opportunities for pricing and forecasting
Skyscanner’s data covers the fares that were actually purchased by customers, as oppo-sed to quotes that are only theoretically available. This access to “demand side” data, represents a major opportunity for airlines and tourism marketing organisations alike. For instance, airlines could use this data to enhance the accuracy of their planning models, by getting precise demand site estimates on a regional or city level.
Similarly, tourism marketing organisations can also profit from the data, to increase the efficiency of marketing spendings. That is, when planning in which geographical areas to launch a marketing campaign, the demand side data could reveal which inbound markets generate the most searches for their destination. According to Filipov all data is anonymised, providing only the route and the paid fare.
The year of big data
Increasingly, big data is changing the face of travel industry. In particular it is a catalyst of change for the modelling of travel demand. By making the models more accurate it is allowing companies to detect and respond to trends and shifts in demand much quicker. Big data analysis provides a radar for companies, which can be used to constantly scan the environment. Thereby it enables the modern company to launch dynamic and agile responses to changes in consumer demand.
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