The growing influence of accessing big data has undoubtedly captured the attention of airline executives over the years and influenced how they make strategic investments. This is no surprise given the endless possibilities it has to help organizations extract value from within their enterprise.
While it is implicit that the data obtained can help with a wide range of important decisions the real question is, how do you truly unlock the value of the data?
As it stands today, the airline data is usually siloed across multiple disparate solutions and business units with no central location to access all the information being acquired. And that is just half the battle. The true challenge is being able to understand the key business drivers being derived from the data and using it to help drive a better customer experience and revenue generation opportunities – amongst other organizational goals.
To help get started in unlocking the value of airline data and driving business benefits, here are some areas to consider:
- 360-degree view of customers – Consolidated view across all interaction points to better understand customer preferences and behavior
- Personalization – Tailor offers to specific customers based on needs and buying patterns to enhance customer experience and maximize revenue
- Pricing & Revenue Management – Leverage your data in a way that allows for dynamic pricing actions and optimized capacity planning
- Operations Management – Bridge your data across siloed business operations to efficiently manage customer disruptions
Moving forward, these suggestions will be of value to you as you prepare to take the next step in bringing your data to life. Look for future blogs from me as I explore each of these areas in more detail.
Please feel free to share your thoughts and best practices as I’m sure we all have something to learn from one another.