Predictive analytics and how big data will drive up airline ticket prices

 
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A very interesting article by an AFF'er into metadata and how it can/is/should be used by airlines and their loyalty programs... https://www.traveldatadaily.com/how-...ay-we-fly/?l=2 Scary but it is the way of the ...
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    Predictive analytics and how big data will drive up airline ticket prices

    A very interesting article by an AFF'er into metadata and how it can/is/should be used by airlines and their loyalty programs...

    https://www.traveldatadaily.com/how-...ay-we-fly/?l=2

    Scary but it is the way of the future (or is it already here)
    trippin_the_rift likes this.
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    Re: Predictive analytics and how big data will drive up airline ticket prices

    Somewhat interesting but really.....all they need to worry about is what their competitors are offering!!!

    Price, schedule and hard product are my main criteria. DSC/50% promos aren't common enough to be a major factor. I'll make use of them if it fits into my schedule but don't go out of my way. I'll admit there's the temptation but I've resisted so far! TBH if I went to an AFF event they may just bring down my last wall of will power!
    QF WP likes this.

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    Established Member Happy Trails's Avatar
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    Re: Predictive analytics and how big data will drive up airline ticket prices

    Good luck to them trying to make sense of my rat's nest of bookings.
    Skyring and Cruiser Elite like this.

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    Established Member trippin_the_rift's Avatar
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    Re: Predictive analytics and how big data will drive up airline ticket prices

    Quote Originally Posted by Happy Trails View Post
    Good luck to them trying to make sense of my rat's nest of bookings.
    human foraging behaviour shows patterns and links between data points even if you think your life is totally random

    qantas can already predict when you're going to book a flight with a high degree of accuracy.

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    Re: Predictive analytics and how big data will drive up airline ticket prices

    Quote Originally Posted by trippin_the_rift View Post
    human foraging behaviour shows patterns and links between data points even if you think your life is totally random
    qantas can already predict when you're going to book a flight with a high degree of accuracy.
    My car and my phone talk to each other. I'll hop in the car, slot the phone into the holder, and I'll get an alert telling me how far it is to my destination and what the traffic is like on the way.

    Sometimes it guesses wrong, but it's right enough times to be kind of scary.

    I run a couple of websites, and I installed Google Analytics on them. They can track the behaviour of any visitors and inform me with the aggregates (and the details if I jump through a few more hoops). Very handy, but Google is taking in information from a vast number of sites, and selling it on. The data is out there, and there's enough incentive for Qantas and others to try to grab my dollars, to develop the systems to exploit the habits and the desires of the millions of customers it gets each year.

    How many flights have you been on where Every Single Seat is occupied? Expect more of that.

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    Re: Predictive analytics and how big data will drive up airline ticket prices

    A fascinating evolution. The multitude of distribution outlets makes it harder (people don't just search on the airlines website) but I'm sure we will start the see differential pricing based on profiles in the future.

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    Re: Predictive analytics and how big data will drive up airline ticket prices

    Quote Originally Posted by trippin_the_rift View Post

    qantas can already predict when you're going to book a flight with a high degree of accuracy.
    Too bad they can't predict that I don't plan a trip to MEL from MEL while I live in MEL...

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    Re: Predictive analytics and how big data will drive up airline ticket prices

    Quote Originally Posted by defurax View Post
    Too bad they can't predict that I don't plan a trip to MEL from MEL while I live in MEL...
    i read this article sometime ago...
    http://www.actuaries.asn.au/Library/...dlerTubman.pdf

    regardless, of seeming no patterns, there are patterns

    In this article Predictive Analytics World: How to Lower Costs with Predictive Analytics

    Sure Things
    Persuadables
    Do not disturbs
    Lost Causes

    The absence of viewing the website or logging in or purchase of a QF product is also indicative
    eg taking one way fares from a location to another. Obviously you had to be able to get back there some other way....

    the $ you spend http://peoplelikeu.com.au/
    even if they don't have exact financial info on you there's indicative info that substitutes for it.
    the $ you spend on a ticket, the type of ticket is it you or your business or
    the points you earn from credit cards can be matched up to work out an income calculation. Even your job title can be weighted. Chief bottle scrubber v assistant director, director, senior director all point to an income level as does age, residential addy plus who else you buy tics for eg children..


    Loyalty is hard earnt but far more easily lost
    QF WP and trippin_the_rift like this.

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    Re: Predictive analytics and how big data will drive up airline ticket prices

    Quote Originally Posted by CaptJCool View Post
    i read this article sometime ago...
    http://www.actuaries.asn.au/Library/...dlerTubman.pdf

    regardless, of seeming no patterns, there are patterns

    In this article Predictive Analytics World: How to Lower Costs with Predictive Analytics

    Sure Things
    Persuadables
    Do not disturbs
    Lost Causes

    The absence of viewing the website or logging in or purchase of a QF product is also indicative
    eg taking one way fares from a location to another. Obviously you had to be able to get back there some other way....

    the $ you spend http://peoplelikeu.com.au/
    even if they don't have exact financial info on you there's indicative info that substitutes for it.
    the $ you spend on a ticket, the type of ticket is it you or your business or
    the points you earn from credit cards can be matched up to work out an income calculation. Even your job title can be weighted. Chief bottle scrubber v assistant director, director, senior director all point to an income level as does age, residential addy plus who else you buy tics for eg children..


    Loyalty is hard earnt but far more easily lost
    Interesting reads.
    "Man does not live by words alone, despite the fact that sometimes he has to eat them" - Adlai Ewing Stevenson II

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    Re: Predictive analytics and how big data will drive up airline ticket prices

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    Quote Originally Posted by CaptJCool View Post
    Loyalty is hard earnt but far more easily lost
    I love this quote because it sums up how consumers view loyalty programs.

    For Qantas Loyalty (and other companies with FFPs) - they are really data marketing companies. They want your loyalty to their currency (through any of their partners).
    Whereas consumers see them as an airline loyalty program with a few non-air partners; and thus a perception about being a loyal airline passenger.

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