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Have you ever noticed why professionals and students rush to big data training in Delhi? Have you ever tried to understand the role big data has to play in various sectors? Let’s understand it through this example of an airline industry that uses big data.
At present airline industry is inclined towards two major trends big data and ancillary revenue.
Big data is on everyone’s lips, however, nobody knows what is it exactly and how does it matter to airline companies to spin money?
Big data in airline industry
A major group of airlines in today’s scenario are hooked on the point that the only way to make most of their passengers is to levy more fees for small and further requests and considering them fool for not reading the tiny prints.
For an industry like this that practically invented the idea of customer experience as part of their preflight & inflight services and some successful customer loyalty programs, it is really sad to see its struggle for survival amid soaring oil prices and employees unions. But it’s the time to get creative not aggressive.
Big data is a high-volume, high-velocity as well as high-variety information repository that can create huge economic value and help in operations, risk management, decision making and customer service.
But what’s the contribution of big data in economic value for an industry that has gone through a loss of shareholder value since 1993.
But how does Big Data help to create “economic value”, for an industry that has suffered with a loss of shareholder value since 1993, at least.
Retail industry is known for its consumption of beneficial data analytics to boost sales. In the earlier days, Netflix and Amazon have known for their successful recommendation algorithms in the arena of ecommerce like Walmart and Target have been efficient in competitive pricing and shelf placements with the help of advanced data mining techniques.
The so-called data warehousing was all about retrieving transactional system and storing it at another location for offline processing, big data is more about processing bulk of data in almost real time.
Keep in mind that data is fragile. It features a shelf life just like anything else while data warehousing has usually been capable of handling the temporal corrosion in the value of data. Big data focuses to fix it with real time completion.
Now you must be thinking what can an airline do? First it should stop ways to make money from its passengers and change its mind-set to what potential it has and add more values for its customers. Secondly with big data & real-time processing prowess it’s no longer about one size fits all.
In-flight merchandising and in-flight advertising are two elements to this chain, however not just random one-size fits all strategy.
Hence, airline ancillary revenue should not only be about luggage fee or unbundling, but should focus on creating value proposition counting on increasingly real-time info regarding customer preferences and needs and exploiting that info for target services.
If you’re an airline company, which just wants to concentrate on core-competency of managing flights safely, can you outsource inflight, pre-flight and post-flight subsidiary operations to a business with the highest potential? When you decide to outsource back-office operations, why not subsidiary revenue operations?
Here is an example…..
United Airlines associated with DirectTV and Singapore Airlines’ Krishop being run by DFASS are two shining examples if the potential opportunities. With Airlines gathering valuable passenger data, these outsourcing partners can develop considerably higher values than the airlines can generate.
So, it’s time to be creative and shift to the value chain.
In case you wanna learn more ensure finding Hadoop Institute in Noida or Delhi that offer comprehensive programs on big data.
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