Advito Creates Airfare Predictor to Improve Airline Negotiations and Influence Travelers
CHICAGO--(BUSINESS WIRE)--Sep 10, 2018--Global corporate travel consultancy Advito created Airfare Predictor, one of the first advanced airfare tracking tools, in partnership with Air Cube, a leading aviation business intelligence and data mining company.
The firms worked together to develop technology that Advito’s consultants can use with other tools to provide new savings opportunities to travel managers. The tool measures pricing trends and booking class availability. The ability to compare current and future pricing while negotiating with airlines is backed by real-time, global intelligence. The intelligence helps companies understand prospective fare availability, often for the first time for most corporations, which creates a level playing field for airlines and corporate buyers.
“Our goal is to create more transparency in airlines’ pricing practices, which impacts corporate customers,” said Olivier Benoit, Advito’s senior director and global air practice leader. “We can now answer questions that people outside of airline revenue management teams could not answer before.”
The proprietary process and analytics collect airlines’ prices (airfares) 180 days into the future, mimicking a range of real consumer booking behavior. The data goes beyond a single airfare, breaking it down by four components to highlight why fares are changing. Specifics include the fare basis, airline surcharges, taxes and booking class availability.
Air Cube’s chief sales & marketing officer, Olivier Bressard, said, “Our business intelligence expertise and our capacity to collect airfare data through our strategic partner INFARE allowed us to build the visual analytics solution that Advito had been looking for.”
To give an example of how it works, Advito may change a negotiation strategy and yield higher savings when an airline is offering a discount on airfare that is only available 20 percent of the time. Airfare Predictor makes it clear that the proposed discount wouldn’t realize significant savings and Advito would request better terms from the airline.
In another scenario, a travel manager working with an Advito consultant may learn that booking a flight segment nine days in advance yields the lowest fare. Airfare Predictor data can better influence a traveler to book a flight at the optimum time for considerable savings.
Airfare Predictor supports Advito’s holistic, ongoing approach to travel program performance management and will be integrated with the company’s Dynamic Performance Management™ and Traveler Engagement™ services.
“Advito clients who participated in the BETA tests said this is a game changer because until now, nobody knew how to use this information to their benefit,” Benoit said.
Advito is breaking boundaries in corporate travel. With a powerful, intelligence-driven framework that dynamically manages supplier spend and traveler behavior, travel programs can continuously run in balance and at peak performance, keeping the needs of all stakeholders met. With smart analytics, unique supplier strategies and integrated traveler engagement, we’ll elevate your program to reach new levels of savings and satisfaction. For more information visit www.advito.com or email email@example.com.
About BCD Travel
BCD Travel helps companies make the most of what they spend on travel. For travelers, this means keeping them safe and productive, and equipping them to make good choices on the road. For travel and procurement managers, it means advising them on how to grow the value of their travel program. In short, we help our clients travel smart and achieve more. We make this happen in 109 countries with almost 13,500 creative, committed and experienced people. And it’s how we maintain the industry’s most consistent client retention rate (95% over the past 10 years), with 2017 sales of US$25.7 billion. For more information, visit www.bcdtravel.com.
About BCD Group
BCD Group is a market leader in the travel industry. The privately-owned company was founded in 1975 by John Fentener van Vlissingen and consists of BCD Travel (global corporate travel management), Travix (online travel: CheapTickets, Vliegwinkel, BudgetAir, Flugladen and Vayama), Park ’N Fly (off-airport parking), Airtrade Holland (consolidation and fulfillment) and joint venture Parkmobile International (mobile parking applications). BCD Group employs over 14,000 people and operates in 109 countries with total sales of US$26.4 billion, including US$10.4 billion partner sales. For more information, visit www.bcdgroup.com.
About Air Cube
Air Cube, the market leader in airfare related business intelligence, is a privately-owned company founded in 2011 by Jérôme Perez. Combining outstanding expertise in Business Intelligence & Data Mining together with a keen business understanding of pricing and travel distribution supported by decades of combined experience in the airline and travel sector, Air Cube is a trusted supplier of airlines, online travel agencies and travel management organizations worldwide.
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CONTACT: For Advito
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PUB: 09/10/2018 07:00 AM/DISC: 09/10/2018 07:01 AM