In a bid to futureproof its revenue management capabilities, Singapore Airlines will be deploying the full suite of Amadeus' Revenue Management solutions.
The airline will adopt the Amadeus Altéa Network Revenue Management - a revenue management system that is fully integrated with new merchandising practices such as dynamic pricing, fare families and ancillary sales. Drawing on data from multiple sources, the solution will provide faster, more accurate and intelligent recommendations on the best price and packaging of airline offers.
Singapore Airlines will also adopt the Amadeus Dynamic Pricing and Amadeus Altéa Group Manager solutions.
Amadeus Dynamic Pricing determines the optimal pricing decision associated to each shopping session and adjusts the end price accordingly. Based on real-time shopping session information (e.g. trip context), market information (e.g. competitor offers), and the airline's revenue management and pricing strategy (e.g. product consistency), Amadeus Dynamic Pricing is modelling customer behaviour and decision, considering his willingness to pay, to calculate the optimum price and instantly adjusts the available fares and taxes. Amadeus Dynamic Pricing fully complements the airline's revenue management solution.
Meanwhile, Amadeus Altéa Group Manager helps airlines to manage group bookings from quotation to contract. When integrated with other Amadeus solutions to streamline group request processes, it provides more flexibility and automation while also contributing to the airline's revenue management strategy, said Amadeus.
Julia Sattel, Senior Vice President, Airline IT, Amadeus IT Group, said: "Traditional revenue management is no longer adequate to support the complex needs of network carriers, and this is where big data creates opportunities for more sophisticated practices. Our solutions extract value from our extensive data, so that airlines can meet [the changing] traveller purchasing habits across a variety of channels and devices."
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