[McKinsey] BigDataFr recommends: How airlines can gain a competitive edge through pricing

pricing

BigDataFr recommends: How airlines can gain a competitive edge through pricing

[…] Most airlines have optimized their core ticket costs. But as ancillary purchases represent an increasing percentage of customer spending airlines must rethink their revenue-management practices.

Airlines have been early adopters of cutting-edge revenue-management (RM) technologies since the 1970s. They were among the first companies to use dynamic inventory pricing, and some of the forecasting and inventory-management models they introduced in the 1980s and 1990s— including sequential upgrades to forecasting and optimization engines and the expanded use of fare restrictions, or fences—represented the vanguard of advanced analytics at the time. These and other RM tactics successfully clustered customers according to their key attributes; for example, they distinguished the occasional leisure vacationers from the weekly business travelers.  […]

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By Riccardo Boin, Will Coleman, David Delfassy, and Giacomo Palombo
Source: mckinsey.com

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