Yapta Launches TravelAI to Utilize Machine Learning for Valuable Insights into Travel Spend
Aug. 12, 2018
SAN DIEGO & SEATTLE--(BUSINESS WIRE)--Aug 12, 2018--Yapta, the leading provider of airfare and hotel price tracking services, today from the floor of the GBTA Convention, announced the launch of Yapta TravelAI, an advanced analytics solution for enterprise customers, allowing procurement teams and corporate travel managers to mine large datasets of travel spend for new opportunities to reduce travel costs, evaluate against benchmarks, improve supplier negotiations, and overall travel program performance.
Built on top of Yapta’s award-winning IQ Technology, Yapta TravelAI automatically captures pricing data on available, booked, and contract (ABC) airfares and hotel rates when travelers purchase an itinerary. The solution improves the effectiveness of travel sourcing programs by providing procurement teams with airfare and hotel pricing data from the time of booking up until the time of travel for full visibility into prices throughout the travel lifecycle. Travel managers can use Yapta TravelAI to get advanced insights into global travel spend, traveler purchase patterns, supplier rate performance, and market price data at the city level.
In addition, Yapta TravelAI aggregates anonymous pricing data across all of the itineraries tracked by Yapta’s FareIQ and RoomIQ Intelligent Price Tracking™ products, creating a benchmark data set of millions of records that can be mined with machine learning capabilities to discover new ways to reduce travel costs. Customers can use Yapta TravelAI to spot patterns in travel purchases and airfare and hotel prices that unnecessarily increase travel costs. It can also be used to benchmark travel spend against thousands of similar itineraries to uncover additional potential cost savings.
“By utilizing advanced analytics and machine learning to crunch large volumes of travel pricing data across the entire corporate travel life-cycle, our customers can capture powerful insights into their global travel spend and the pricing trends in the marketplace,” said James Filsinger, President and CEO of Yapta. “This is highly actionable pricing intelligence that can help companies move towards dynamic pricing technology, rather than negotiating every supplier contract through an RFP.”
Yapta TravelAI features Tableau's interactive and visual analysis tools for easy data exploration and Amazon Redshift for fast performance and scalability. The solution will be available as an add-on product for Yapta FareIQ and RoomIQ customers and pricing will be based on data volume. Existing Professional and Premium reporting products have been incorporated into the Yapta FareIQ and RoomIQ products and will now be available to all customers at no additional cost.
“Tableau’s mission is to make it easy for people to understand their data and act on it,” said Mark Jewett, VP of Product Marketing at Tableau. “Combining Yapta’s travel pricing data with Tableau’s advanced analytic capabilities will help enable organizations to make better decisions about how to reduce their travel costs.”
Yapta TravelAI is immediately available to customers through an early adopter program with general availability anticipated in Q4 2018. More information on the Yapta TravelAI early adopter program can be found at www.yapta.com/TravelAI.
Yapta's mission is simple: To give our customers confidence in travel. To that end, we are the world’s leading company for airfare and hotel rate price assurance, analytics, and cost savings. We dynamically monitor billions of prices every month, and transform that data into highly meaningful savings, insights, and reports. Since 2007, we've brought technology leadership to the travel landscape and our 8,000+ corporate customers. Recently named to Deloitte’s Fast500 for North America for 2017, Yapta pioneered the category of travel price assurance. We're driven to help build confidence in our customers’ travel programs. www.yapta.com.
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Jeff Pecor, 802-497-1932
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA WASHINGTON
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