9th August 2018
Interactive performance dashboards are a game changer in any industry, enabling self-analysis and increasing agility and responsiveness. Being able to act quickly and adjust the customer offer can be the difference between making or losing money.
According to Versilia Solutions’ Retail Analyst Trent Powell, inconsistent data is a common problem and established airlines struggle with legacy systems that are often no longer fit for purpose: “Working with airlines from the point where they start-up provides an opportunity to standardise its data handling process from the outset, leading to immediate benefits. In one example in 2017, the first step we took was to move all information into a central repository.”
Trent outlines how the airline is already benefiting from the efficiencies created by starting on the road to automation: “By linking the dashboard to Versilia’s data warehouse, we have become more efficient by reducing the need for labour-intensive analytic processes. We are still at proof of concept stage but taking this first step is a key enabler for evolving to full BI.”
Early assessments indicate that there are already significant performance benefits. These include improved interaction with the leadership team, more efficient account management, better sales performance and cost savings.
Trent outlines how this process is scalable: “Versilia manages various airline accounts, and we can offer consistent reporting across all our customers. At the same time, we are streamlining our own retail reporting processes, which allows us to dig deeper and evaluate emerging trends and any specific challenges the airline might face.
Do all airlines stand to gain from BI? Trent concludes: “Airlines see BI as a source of competitive advantage and cost reduction. Other benefits include lower fresh food waste and retail shrinkage, enabling airlines to optimise load, reduce stock inventory and cash flow.”
Tags: Retail data handling