Advanced analytics software provider, PredictX, releases an analytical solution answering the common pain points experienced by buyers during the air supplier sourcing and management process. The PredictX Navigator uses machine learning, advanced analysis and predictive analytics to guide or “navigate” buyers through multiple RFPs, existing contracts and the disruptive air marketplace we see today.
The PredictX Navigator automatically analyzes and compares each proposal, contract and proposal iteration against other proposals and market rates. Navigator is able to track the performance of multiple contracts to both fixed and dynamic targets. Automated alerts guide the user on what decisions are mathematically best to make on each RFP and existing supplier contract.
Navigator aids the buyer in a changing marketplace by providing not only current rates but future rates that result from the supplier management and sourcing decisions we make today. Starting with a fair market share analysis, travel buyers can use aviation data like service frequency, aircraft and route type to analyze and predict demand and the associated fares across routes and schedules. It automatically benchmarks each rate and outcome against current air market rates. These insights will allow buyers to see the overall quality of each deal in every situation – both now and in the future.
The application is “NDC-ready” designed from the ground up for customers and carriers who embrace the new distribution content while also catering to those who are not yet NDC compliant. The tool allows for automated data consolidation between the old data formats and the new XML-based data transmission format.
“In a market that has seen so much change recently, both airlines and buyers need more transparency into what each contract decision will bring them. Looking at past market share and fare price is no longer an option. We need to see what will happen in the future and move to accommodate this. The PredictX Navigator is developed as a “guide” for the airline market that will hopefully “navigate” us into improved air sourcing negotiations,” said PredictX Director of Product, Simon Carmouche.
PredictX is a travel data analytics company using advanced data analytics and AI to consolidate agency, card, expense and meetings data.
PredictX combines blue-chip company experience along with a thirst for new innovation to put both the quality of their analytics and the travel programs they support one step ahead.