How Airline Data Analytics Is Transforming The Aviation Industry?

by Audrina Grey Travel Technology Analyst

Technology has significantly brought about a change in the way businesses communicate with their customers, build workflow, and take major decisions. The competitive aviation world has also witnessed a positive change in this regard, with big data transforming the airlines including a selection of seats, ticket purchase, luggage, boarding, and more. The airline data analytics helps the involved companies with improved planning, timely response to market demands, and constant monitoring of major elements relevant to the airline industry. 

 

When followed properly, data analytics can help organizations in the airline industry achieve lower operating costs, increased profit margin, and better customer service. All these plus points under one roof can go a long way in making your company, the industry leader. Mentioned below are a few benefits that airline data analytics can offer in this respect:

 

A surge in airline revenues 

 

Airline data analytics can help in improving the revenues of companies operating in the aviation industry appreciably. For instance, lucrative offers devised with the help of predictive analytics can help in targeting potential customers in real-time. This in turn can boost the company’s earnings.

 

Measurement of performance 

 

Any airline firm has to compete in a highly competitive global environment and hence requires accurate and prompt measurement of enterprise performance. Additionally, volume-driven variations can quickly lead to major effects, thereby making timely action a critical need. The industry also faces substantial difficulties in producing reliable weekly performance measurements. Airline data analytics can automate daily activity reports including the distance flown or the number of passengers flown in a flight. This information can then help to gather data like daily revenues for specific sectors and more. 

 

Customer satisfaction 

 

The analysis of a traveler’s journey and sentiments followed by predictive analysis can collectively help the airline industry keep the information of their customers up-to-date. It can also help promote personalized offers based on their habits, needs, and distinctive experiences. This collection of customer-specific data helps companies into airline business to understand the behavior, taste of the passengers. They can offer lucrative options to travelers accordingly. Moreover, in situations where a baggage loss or flight delays occur, passengers can get anxious. With the analytics in place, they can receive a response quickly, which helps in building trust. 

 

Reduction in cost 

 

With the introduction of airline data analytics, the aviation industry will be able to reduce their costs when it comes to baggage loss. As per the rules, the airlines will have to repay such damages but with baggage tracking, such losses, damages or delays are now avoidable. Additionally, with the analysis of fuel consumption data, airlines can achieve an enhanced level of fuel efficiency. 

 

Analytics during COVID-19

 

With the outbreak of the COVID-19 pandemic, airline data analytics has an inevitable role to play. It can assist companies to forecast losses, flight restrictions, customer sentiments, etc. This will help the organizations to know if they have adequate cash reserves for flight sustenance so that they could take appropriate measures to reduce losses on those routes. Further, analytics can also help to analyze the outcomes of real-time flight bookings and cancellations.

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Created on Jun 4th 2020 06:15. Viewed 352 times.

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