Posted on: 20 November 2018 by Kimberley Young
Infare is launching a next-generation business intelligence tool for airlines, Pharos, to provide carriers with market insight and analysis for competitive airfares.
Pharos provides total market insight of competitive airfares, from real-time snapshots to demand curve analysis. The cloud-based intelligence solution can enable airlines to identify the most profitable revenue management strategies, says Infare. Through its visualisation of fare data and robust design, Pharos helps to identify profitable opportunities amid competitor fare observations.
Nils Gelbjerg-Hansen, Infare’s CEO, says: “For airlines of all sizes, pricing intelligence is a crucial driver of profitability and we are a key enabler for enhancing this. With Pharos, we are launching the next-generation tool of choice for analysing competitive pricing behaviour. Carriers can earn hundreds of millions of dollars annually by using Pharos’ visually intuitive analysis functionality to unlock fare pricing opportunities through identifying and tracking competitor patterns.”
To better support airline revenue management and pricing processes, the solution allows for dynamic comparisons between carriers, using a rules-based model to identify and display competitive fares. Infare suggests this features automates peer group analysis and eliminates repetitive tasks, as well as “transforming” revenue management effectiveness by revealing competitor pricing structures and business strategy.
Gelbjerg-Hansen added: “With its intuitive interface and rich visualisations, Pharos makes any airline’s revenue management more efficient and thereby more profitable. The software, like all our products, is cloud-based, and complements C-suite systems, drilling down in granular detail to reveal underlying market trends and behaviour.”
The tool can be tailored to each user’s requirements. The software seamlessly streams, visualises and tailors market data from more than 1,300 sources – validated through Infare’s 45 quality criteria – to the needs of each airline.