Track: Machine Learning Applications in Marketing
Context-Based Dynamic Offers for Travel Products
Within the travel industry, airlines and hotels are looking to for capabilities that can wade through the volatility of today’s market noise and optimize commercial decisions across the customer experience. Travel providers and retailers are increasingly focused on the benefits of a holistic approach to personalized offers that considers Offer Generation, Ancillary Bundling, and Dynamic Pricing. When done correctly, Dynamic Offers present the traveler with a bundle of products and services tailored to their known preferences and the context of their trip, at the right point in their customer journey, and at a price that balances profitability with probability of purchase. In this talk, we will highlight each step in the process, the analytics required, and the potential benefit.