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    Seven Trends That Will Reshape the Airline Industry

    For leadership teams at airlines, the challenge isn’t merely to respond to the industry’s current operating environment—it’s to anticipate what’s coming and position the company to win in the future. We have identified seven trends that we believe will reshape the industry over the next five years: the customer-centricity imperative, rapid growth in the adoption of data science and advanced analytics across the value chain, the rise of sustainability concerns, an increasingly… Read further. More

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    How Digital Operations Put The World’s Oldest Airline In The Lead

    Maintaining momentum and building credibility were critical. The airline put together solutions in short cycles of 6 to 12 weeks each. To keep demonstrating progress, it broke problems down into smaller component parts and later scaled up the solutions as needed. For example, instead of tackling maintenance scheduling for the entire fleet at once, KLM started with the aircraft that had the most potential for optimization (B737s), on the belief that a solution for that segment… Read further. More

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    Bionic Revenue Management in Travel and Tourism

    Beyond Ticket Pricing Most P&RM leaders have already recognized the need to move beyond using price to optimize the value captured from sales. They are looking to maximize the value delivered to individual customers based on an enhanced understanding of their needs. These companies are testing individualized product design, ancillaries, and bundles as well as post-booking activities. Their goal is to recognize revenue potential throughout the booked voyage and ultimately to… Read further. More

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    Travel Distributors Must Deliver a Seamless Customer Experience

    This approach also generates higher margins for distributors, because consumers are no longer booking based on price alone. More important, it helps move distributors closer to the ultimate goal—becoming the go-to travel brand for customers’ needs, capitalizing on the most profitable repeat customers and spending less on acquiring new customers. More

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    How Travel Companies Can Emerge Stronger from COVID-19

    Jason Guggenheim, Marguerite Fitzgerald, Adam Gordon, Jeffrey Shiff, Jeff Gordon, and Patrick Franks Travel and tourism companies are fighting for their lives. But even as they take drastic steps to cut costs, reduce capacity and conserve cash, they need to look to the future. Decisions made today will affect their eventual recovery, and opportunities missed today may not come around again. Nobody knows how long the pandemic will last or what shape the recovery will take—quick, gradual,… Read further. More

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    In Travel, It’s Time to Push AI Beyond the Pilot Phase

    AI can help anticipate and respond to such lapses even if the company was not at fault. In his book Setting the Table, famous New York restaurateur Danny Meyer talks about “writing a great last chapter” when dealing with a dissatisfied customer. He encourages employees to turn a mistake into a positive experience that the customer will remember. Machine learning can help travel companies write the last chapter by, for example, suggesting complementary services that the… Read further. More

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    What Could Blockchain Do for Airlines?

    Is the airline industry fully capitalizing on the digital revolution? With rising demand, strong cost controls, increasing fee revenues, and solid earnings, the case for transformation may not seem as urgent as it might be in other industries. Still, gathering storm clouds indicate a need for change. These include legacy processes inherited from the 1970s, highly fragmented distribution channels, minimal business model innovation beyond cost management, and the uneven use of data and… Read further. More

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    Innovation in Travel Must Put the Traveler First

    Personalization. AI and personalization are complementary. Travel companies have large amounts of information—especially indicators of customer behavior collected through loyalty programs—that they do not fully exploit. On the basis of customers’ previous interactions, AI can help travel companies by noting which services customers have accessed in other trips or would likely enjoy. AI can also make the hotel or cruise ship experience more seamless and personalized…. Read further. More

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    To Get Smart, Ports Go Digital

    Link a smart-port strategy to the overall port strategy. Technology strategy doesn’t exist in a bubble. An upgrade needs to dovetail with a port’s larger strategy and goals, whether those goals include finding extra capacity in existing assets, reducing operating costs to improve the bottom line, increasing market share by being more convenient than neighboring ports, or using data-based services to generate additional revenues. Because a smart-port technology plan must be… Read further. More

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    The Digital Imperative in Freight Forwarding

    Freightos, founded in 2012: total funding of $93 million and a valuation of well over $100 million; latest funding round Series C; key investors include GE Ventures, ICV Partners, Aleph, and Singapore Exchange FreightHub, founded in 2016: total funding of $23 million; latest funding round Series A; key investors include Northzone Ventures, Global Founders Capital, and Cherry Ventures Fleet, founded in 2014: total funding of $14 million and a valuation of $32 million; latest… Read further. More

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