As advancements in technology, particularly big data analytics and artificial intelligence (AI), have transformed every industry, the airline sector and its revenue management teams have also been significantly impacted. These technologies enable airlines to analyze vast datasets, allowing them to forecast demand, set optimal prices, and personalize offerings with unprecedented speed and accuracy. AI, particularly machine learning and deep learning, has been used to process and learn from the data, enabling the automation of decision-making processes in pricing and inventory management. This includes dynamic pricing algorithms that adjust fares in…
The Role of Technology in Open Pricing
