Dublin, Ireland, 18 February 2019: Datalex (Euronext Dublin: DLE), a leading provider of digital commerce solutions to global travel retailers, has advanced its blueprint for dynamic pricing, helping its airline customers to navigate the ever-evolving digital retail marketplace. Dynamic pricing has matured over the last decade, with online retailers leveraging new technologies to interrogate data. Datalex advances these strategies through the capabilities of its Digital Commerce Platform, allowing travel retailers to fast-forward their approach by combining traditional dynamic pricing with behavioural and AI data-driven insights to influence customer purchase decisions.
Datalex’s airline customers can drive innovative and unique offers by engaging in an advanced pricing technology that provides them with a flexible range of capabilities. These include:
- Pricing agility – allowing the airline to apply dynamic pricing techniques to any offer, not just the airline ticketing price.
- Automation and machine learning – providing a high degree of automation of pricing decisions across a wide range of markets and time frames in real-time.
- Flexible data sourcing and processing - with the capability to easily integrate new data sources as they become available and apply these to the underlying pricing algorithms.
- Visualization and exploration of data and results – the ability to visualize what is happening in the dynamic pricing system and explore the data, thus helping the airline to build trust in their pricing decisions and identify future opportunities.
Combined with IATA’s New Distribution Capability (NDC), the Datalex Digital Commerce Platform will also allow airlines to apply unlimited price points in real-time based on data-driven strategies. ‘Continuous pricing’ means that airlines can fully optimize their revenue, perfectly aligning price with the market demand at any given time.
Datalex Chief Innovation Officer, Alan Dunne said: “Airlines need to invest in better pricing technology in order to maximize the retail opportunity that exists in their markets today. Breakthroughs in supporting technologies and machine learning algorithms have extended exponentially the new opportunities in the field of dynamic pricing.” He continued: “But the game-changer for travel retailers will be the lightning speed with which they will be able to manage their pricing strategy. Datalex enables airlines to do this, providing them with the flexibility and control they’ll need to remain competitive well into the future.”
To learn more, click here to read the Datalex white paper ‘Dynamic Pricing – Its Role in Digital Retail Thinking’.
Datalex is a market leader in digital commerce for travel retailers. The Datalex Digital Commerce Platform provides airlines with a unique solution that allows them to significantly leverage and increase the range and scale of products and services they can offer to passengers. The platform enables an omni-channel travel marketplace of over one billion shoppers covering every corner of the globe, driven by some of the world’s most innovative airline retail brands. Datalex’s customers include Lufthansa Group, Air China, JetBlue Airways, Hainan Group, SAS, Swiss International Air Lines, Philippine Airlines, Aer Lingus, Copa Airlines, Brussels Airlines, Air Transat, Air Malta, Multiplus, HP Enterprise Services and STA Travel. The company is headquartered in Dublin, Ireland, and maintains offices across Europe, the USA and China. Datalex is a publicly listed company and trades on Euronext Dublin (DLE). Learn more at www.datalex.com or follow on Twitter @Datalex.
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