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Airline industry has seen the need for Business Intelligence (BI) solutions in order to fully tap into the value of data. Analytics solutions provide actionable data for airlines businesses to increase customer satisfaction, optimize operations and improve other core functions.
It’s not easy to track massive volumes of data. Airlines are under pressure every day to minimize costs, minimize flight delays and maximize profits while also improving customer satisfaction.
There are also increasing demands to continuously collect data in order to uncover new insights. Handling huge data is no easy feat but luckily there are tools out there that can help to ease the burden. Data Integration and BI tools are prominent among those tools.
Also Read: Importance of Advanced Analytics in Retail
Furthermore, business intelligence tools allow companies to operate more effectively by enabling them to
- Capture and analyzse data
- Identify patterns, outliers and bottlenecks in the business processes
- Make optimal decisions to take appropriate actions
By taking these steps, company personnel can save time and hassles so they can focus on other aspects of their businesses.
Generation of Data within the Aviation Industry
The airline industry gathers massive amounts of data each day of various types such as
- Flight passengers information
- Tickets fare, bookings and sales
- Members Mileage Points
- Partner Points
- Partners Information
- Customer Service related
- Price trends and much more.
Let us take you a little deeper to help us answer the questions onf how the Airline Industry uses Business Intelligence.
What is Business Intelligence and Analytics for Airlines?
Business intelligence and Analytics can be understood as a combination of data collection, processing, cleaning, transforming and analyzing of the data in easily understandable visualizations and formats.
Business intelligence (BI) tools are used to analyzse large sets of data. The data can be divided into two categories; structured and unstructured.
Unstructured data consists of text content that is usually derived from digital sources like social media or email.
Businesses across all industries are utilizing the power of Business Intelligence (BI)BI tools to help them analyze this type of content.
The goal is to analyze evaluate raw data and turn it into meaningful insights. These insights can have a positive impact on a variety of company business decisions.
The accumulation of large volumes of data in the aviation industry can be seen as an opportunity in creating forecasts for revenues using advanced tools and technologies and also providing in-depth insights into the business that will help the companies make strategic data based decisions.
Below is a list of some of these analyzes
- Pattern matching
- Data mining
- Forecasting
- Predictive Analytics
How would the Airline Industry use Business Intelligence?
In this digital era where everything from buying merchandise groceries, to booking a vacation can be done online, air travel is no different. So, what does Business Intelligence have to offer to the airline industry?
Better Customization
Business Intelligence can be useful for the Airline Industry in analyzsing the buying behavior of customers, which seats are in more demand, % of customers booked tickets in advance and business lost to competitors due to high pricing. This kind of information helps airlines to come up with a better strategy to improve customer satisfaction, increase revenue & decrease flight cancellations.
Operational Efficiency
Airlines are often able to gain an understanding of their good or bad performance. Similarly, they can maximize yields through drawing these relationships with customer feedback, booking, customer behavioral data, etc.
Similarly, Business Intelligence BI can be used to optimize routes that help reduce traffic on certain routes.
Congestion Management
With the rapid growth of the aviation industry there is a rapid increase in airport traffic which is prone to congestion disruptions.
To solve this problem, airlines can resort to business intelligence and by using runway bandwidth, passenger numbers, terminal capacity, ticket processing and so on, they can find patterns based on traffic congestion and compare airports. .
An example is the use of GPS data to optimize the use of available aerospace.
How DiLlytics can Help the Airline Industry and become the best business intelligence tech partner?
DiLlytics is one of the leading technology solution providers across the United States. We utilize our vast skills and expertise to provide the best Business Intelligence BI tools for all our customers.
Our Business IntelligenceBI tools seamlessly integrate with Microsoft Dynamics business intelligence, helping to deliver an unmatched BI experience.
DiLytics can help airlines come up with insights for the below use cases
- Track the flight cancellations and come up with a plan to reduce the cancellations
- Get insights into which seats are in more demand and accordingly adjust the fare prices comparing to competitors to attract more customers
- Analyze the customer behavior on how advance the tickets are booked and adjust the fare prices
- Analyze the routes and make informed decisions to increase/reduce the flights to a certain destination based on the demand
- Analyze the revenue data and forecast the revenues using advanced technologies
- Analyze the customer feedback and improve customer satisfaction using Machine learning methodologies
- Track the Mileage points by Partners
- Analyze how much points have customers earned through partners. This analysis will help airlines to work closely with partners who are not doing great(in other words customers showing less interest through the partners)
- Analyze Usage of Earned Points by Partners & Products
DiLlytics has extensive experience in using a wide variety of BI applications designed to meet customer needs. These applications offer many benefits that will ensure that your business is always ahead of the competition. Potential customers can also request a free demo here.
All DiLlytics Business IntelligenceBI tools utilize Dynamics 365, which serves as an optimal platform to track finance and operations faster, while at the same time helping companies improve their overall strategic plan. Visit here to learn more about Microsoft Dynamics and its benefits.
Conclusion
Business intelligence systems for airline companies are designed to better process airline-related data so that the operations performed are optimized to Maximize profits while meeting customer needs.
Reach out to us at [email protected] for more information how we can help.
