Datalex Pricing AI: Transforming Revenue Management with AI-Powered, Real-Time Pricing at Scale
Datalex Pricing AI will transform Revenue Management strategies using unique AI models, empowering airlines to build competitive advantage by differentiating through data in real-time and at scale. This product has been built for future-focused airlines who want to supercharge their pricing strategy, by scaling intelligence, and differentiating across the airline’s network in real-time.
For too long, airlines have been restricted in their abilities to strategically price their flights and remain consistently competitive. Rules-based revenue management processes have taken over in recent years, attempting to overcome these constraints, but this isn’t a reactive or optimal foundation for the future of airline pricing. At Datalex, we’ve created a world, where pricing rules no longer exist, and pricing never sleeps.
Download the AWS eBook featuring Datalex on Transforming Revenue Management - Modern Revenue Management in the Cloud.
This eBook provides expert insights into how airlines can modernise, augment, complement, and advance their revenue management systems in the cloud using more data, scalable compute power, machine learning, and off-the-shelf AI products to more accurately predict travel demand, set a modern, real-time pricing strategy, and provide the right traveller with the right product at the right price at the right time.
In this eBook you can also read more on Datalex's unique approach to AI powered real-time pricing, results from airline trials with Pricing AI and insights from our research with airlines on the AI opportunity for revenue management.
Traditional revenue management processes have restricted airlines' abilities to strategically price and scale airline intelligence and decision-making across their network. By automating complexity and reducing distractions, Datalex Pricing AI thinks exactly like an airline’s revenue management team except in real-time and at scale, freeing up resources so the best people can remain laser focused on making strategic decisions while Pricing AI takes care of the day to day decisions.
How it works
Datalex Pricing AI makes a single API call that continuously calculates a suggested price, reasons with the result and presents the optimal price back to the customer.
Training Pricing AI with Price influencing factors
There are several factors that influence price and Datalex Pricing AI takes a multitude of price-influencing factors into account when training the Pricing AI machine learning models. They are uniquely trained and completely bespoke to each airline because it leverages an airline's proprietary data.
Determining Price using the Latest Machine Learning Technology
Using a family of machine learning models that feed exclusively on extensive proprietary datasets, Datalex Pricing AI utilises innovative machine learning features to continuously generate suggested prices.
Neural networks that ‘reason’ and think just like you
Datalex Pricing AI is completely unique for each airline and pricing decisions are made even more unique by the Datalex market leading reasoning, which mimics human decision-making. Neural Networks that ‘think like your airline’ are created, continuously making decisions in line with an airline’s strategic thinking.
Want to know more? Learn about how Datalex Pricing AI will supercharge and future proof your airline's pricing strategy.
Collaborating instead of replacing
At Datalex, we're disruptors but we're not disruptive. Datalex Pricing AI doesn't claim to replace revenue management, instead it will work as a collaborative team member by benefitting revenue management teams in the following ways:
Scale Airline Intelligence in Real-time
In-house expertise can be applied anytime and anywhere across your route network to ensure every pricing decision considers real-time market conditions.
Voice of Reason
Replicate expertise from your revenue management team with our market-leading reasoning network that simulates human judgement.
Serverless & Seamless
Cloud-based product built on AWS with regular updates means no heavy-lifting on the airline side, integrating seamlessly with existing systems.
Low touch, high impact
The beauty of this product is that it is low touch, high impact. It takes just 12 weeks to get started with Datalex Pricing AI and airlines can start to see results and revenue uplift straight away.