Optimize pricing and revenue for every seat and departure
Increased price transparency via the Internet has made it easier for savvy consumers to shop online for the best deals, leading to increased competition in the passenger travel industry. Economic and competitive pressures combined with excess supply mean that passenger rail, airline and low-cost carrier companies must look beyond traditional revenue management practices to maximize the revenue potential of every seat and departure.
JDA provides a sophisticated approach — Price Sensitive Revenue Management — to help companies in the passenger travel industry achieve optimal profitability. This dynamic, automated and flexible approach to revenue management combines pricing and yield management into a more cost-effective, efficient business process.
JDA's innovative software and services for the passenger travel industry enable companies to:
Maximize profits and revenue. Through the combination of automation, demand forecasting, price optimization and revenue management, companies can gain a competitive advantage and boost revenue-generating opportunities by managing revenue in markets without fences or price restrictions.
Improve forecast accuracy. JDA's advanced forecasting enables companies to analyze how a rate increase or decrease will affect demand. By leveraging robust demand segmentation and classification functionality, companies can adjust forecasting based on current booking patterns, capacity and inventory.
Optimize pricing through real-time competitive data. Companies can integrate JDA's price elasticity modeling, customer segmentation and competitive pricing into the core decision-making process, enabling them to set the right prices and differentiate customer value in real time across multiple fare classes and journeys.
Balance supply and demand through real-time visibility. Using price optimization, companies can adjust prices based on fluctuations in demand on any given day, as well as manage high- and low-demand periods and fare structures.
Monitor and measure success. Companies can measure and report on forecasting and optimization to quantify the effects of pricing on demand.
JDA Price Sensitive Revenue Management solutions help companies improve forecast accuracy, manage price and demand, and increase yield management for improved profitability through advanced demand forecasting, price optimization, revenue management, asset optimization and analytical services. Eurostar, Thomas Cook and TUI UK Ltd. are just a few of the industry leaders that have turned to JDA for their pricing and revenue management needs.