Article ID: | iaor200940059 |
Country: | United Kingdom |
Volume: | 5 |
Issue: | 4 |
Start Page Number: | 324 |
End Page Number: | 325 |
Publication Date: | Jan 2007 |
Journal: | Journal of Revenue and Pricing Management |
Authors: | Bray John |
Keywords: | transportation: general, yield management, behaviour |
One of the key tenets of the Travel 2.0 movement is that consumers are able to gather and assimilate information not previously possible. Certainly, in travel, metasearch has enabled consumers to collect fare and rate data at a level where analytics can be applied. Given all this fare data, consumers are now able to predict where airfares will rise or fall, helping them make the decision of if or when to buy, thus turning the tables on revenue managers (who use analytics to predict when consumers will buy).