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- Data Sources for Agile Decision-Making
In this AI Vision panel discussion, AI experts share how airlines can find new data sources to create a more complete view of their operations, supporting real-time and agile decision-making.
Speakers: Alex Mans, FLYR Labs, Alan Talbot, Bridge Solutions, Ltd., Ben Dias, easyJet, Justin Bundick, Southwest Airlines, Oz Eliav, Cockpit Innovation, ELAL
Date Presented: December 1, 2021
00:00 – Introduction:
The 2021 World Aviation Festival was held in London, UK at the ExCel Center, bringing together the world’s largest airports, airlines, and transportation technology leaders. In this AI Vision panel discussion, AI experts share how airlines can find new data sources to create a more complete view of their operations, supporting real-time and agile decision-making.
01:50 – Three Areas of Focus:
There are three areas of transformation and innovation that airlines should focus on. First, look beyond the data that you have. Second, make maximum use of the data you have access to. And three, look at the context of the data to help maximize revenue uplift.
10:51 – Identifying Relevant Data:
Smaller data sets don’t always mean limited information. You may use data set A to answer a question about flight B, and data set C to answer a question about flight D. Less data or more concentrated data can be established in many different ways, identifying relevant data to drive more accurate outcomes.
13:49 – Investment in Infrastructure:
In today’s volatile environment, airlines are investing in infrastructure to better deal with this increasing complexity.
23:42 – Aligning Commercial Decisions:
With a foundational infrastructure, airlines can align people and processes across commercial functions.
27:24 – Agility in Operations:
There’s a very big opportunity where revenue management and commercial optimization can not only drive revenue, but it can actually help control cost by talking and working with the optimization and disruption side.
36:14 – Using Data to Feed Decisions:
Depending on the airline, you must identify the inputs and outputs and how that data is used to feed your decisions and train your models.
44:00 – Offline & Online Validation:
FLYR uses offline and online validation methods to measure the success of RM strategies, estimating revenue potential and measuring forecast error.
45:30 – Conclusion:
For airlines, there’s a positive way forward, even in today’s challenging climate using advanced data and technology methods.
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