Machine learning and analytics have touched almost all the fields around the globe including the aviation industry. With the growth of data, the use of analytics in the airline industry is the next big wave. Now, big data analytics and predictive models are being used for augmenting opportunities in the industry. In this article, we list down five fascinating ways that the aviation industries are using analytics.
1| Increase In Airline Revenue
Analytics and text mining techniques help the industry to understand the sentiments of the customers and other maintenance issues. Analysis of ticket booking can help the industry to target the customers with personalised offers while optimising the price in real-time using predictive analysis techniques. By gathering meaningful data, the aviation industry can fetch more bookings in the given time span. Artificial intelligence and analytics will provide the aviation industry to operate at an ideal cost to profit ratios through targeted sales.
2| Smart Maintenance
Baggage will no longer be the burden for the passengers and one can travel freely without any hassle. The Radio-Frequency Identification helps from mishandling the baggage. Predictive analysis helps in improving the predictability of fleet reliability. The airport traffic is increasing every day and as a result, it will conclude as a threat to the aviation industry. But with the help of analytics and big data, parameters such as runway bandwidth, flight routes, types of aircraft, etc can be implied to identify the patterns as well as comparing them. The industry is working on optimising the use of airspace.
3| Cost Reduction
The introduction of analytics into the aviation industry will benefit into cost reductions in several ways such as every year lots of baggage get lost which have to be repaid by the industry, thus the airlines depend on the real-time baggage tracking data helps avoid losing or any damage or delaying bags. The data of real-time consumption of fuel is collected and analysing it can be an efficient use of fuel as well as reducing the cost in investing it more than it needed.
4| Customer Satisfaction
Customer Satisfaction is one of the main motives in any organisation. The analytics and other emerging technologies have spread out their hands to help the organisation with such motives. The aviation industry trying all the possible ways in the rat race by soaring in the emerging technology. With the help of predictive analysis, sentiment analysis, etc. the industry provides its customers to keep updated in real-time, promoting offers according to their choice and experience, fulfilling needs regarding their habits, etc.
5| Digital Transformation
Big Data and analysis is transforming and digitising the commercial aviation industry in order to deliver high standard services to the passengers. Passenger Technology Solutions has launched to provide the perfect platform for the custom-made technology suppliers to showcase their products and services to airlines, airports, etc. from around the globe in order to offer the passengers a more connected travel experience. The emerging technologies are lifting up the aviation industry into new heights by helping them in every possible way to fulfil the customer’s needs, real-time performance dashboards, predictive maintenance, etc.
With the help of Big Data and analytics, the Miami International airport has launched an app where the passengers get information and support relevant to their journey in order to improve the passenger’s experience in real time.
According to this report, United Airlines tied up with virtual AI assistant, Amazon Alexa which manages the entire flight experience for their passengers such as providing ongoing updates, check-in process, etc.
Artificial Intelligence and Big Data analytics will transform the experience of customers and other engagements at airports. According to SITA’s Air Transport IT Trends Insights 2017 reports, most of the airlines which were part of the study are planning significant initiatives of artificial intelligence technology within the year 2020 which include real-time predictive pricing offers, air travel experience to chatbots which recommends upgrades based on the customer’s experience and habits, etc.