Join Clement from Amadeus, a functional R&D expert in the Airline Offer Optimization Product, as he demystifies the complexities of dynamic pricing. This video offers an opportunity to gain insights into the sophisticated algorithms that determine ticket costs. Learn how airlines and customers alike can reap the benefits of this pricing strategy, understand the factors that influence ticket calculations, and discover the methods used to gather and leverage contextual data. Clement also highlights in this video innovative strategies and examples of success in the industry, providing a comprehensive overview of dynamic pricing in action.
TIME STAMP:
1:10 - 2:43 - How airline ticket prices are calculated,
2:46 - 3:49 - How dynamic pricing works and its importance,
3:51 - 4:39 - How airlines collect and utilize contextual information to establish dynamic prices,
4:40 - 5:48 -How do airlines ensure that dynamic pricing respects customer privacy & data protection regulations,
5:49 - 6:51- How do customers benefit from dynamic pricing, and potential downsides
6:52 - 7:53 - How do airlines strike a balance between maximizing revenue & providing fair pricing for passengers?
7:54 - 8:47 - Example of a successful dynamic pricing strategy in the airline industry
8:48 - 10:29 - Recent innovation in dynamic pricing within Amadeus
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