Airline Industry Overview
Over the past few years, a few inventions have changed how people live and experience the world as much as the invention of the airplane. Moreover, air travel has become a routine that it would be hard to imagine life without it. The airline industry has also altered the way in which individuals live and conduct business by reducing travel time and altering the concept of distance. Globally, the airline industry can be separated into four categories– international, national, regional, and cargo.
Furthermore, the airline industry exists in a very strong competitive market. In recent years, the airline industry has been witnessing an industry-wide shakedown, which will have broad effects on the industry’s trend toward growing domestic and international services.
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Airline Industry Future Trends
Airline industry customers increasingly want a seamless, frictionless shopping experience that gives them spread-out yet personalized offerings. As a result, meeting the rising expectations requires new capabilities and technologies and consequently new costs. Furthermore, with airline industry profits high, the time is apt to invest not just in technology, products, and talent, but also in the process and culture that agility requires.
Importance of Customer Analytics
Today, clients have access to data anywhere and anytime. This makes it all the more important to predict how customers will act when interacting with an organization. As a result, customer analytics is considered as the pillar for all marketing activities which characteristically comprises techniques such as data visualization, predictive modeling, and information management and segmentation. Additionally, customer analytics helps establishments decrease attrition by accurately projecting customers most likely to churn. Customer analytics also helps companies increase customer loyalty and response rates by communicating with the right customers with appropriate offers.
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The client is an American airline major. The company was founded in the early 1930s and employs over 13,000 individuals.
The client did not have a robust framework to measure customer satisfaction and generate insights. Additionally, the customer analytics framework had a delay in response time due to the inefficient tracking of customer satisfaction scores and its drivers across different business functions.
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With the help of Quantzig’s customer analytics engagement, the airline industry player enhanced customer satisfaction levels by using multiple optimization techniques to generate insights around various relevant business aspects such as marketing costs and competitors’ impact on their customers. The client also rolled out various dashboards that represented customer satisfaction at various levels such as an airport, region, sub-region, and driver level in a user-friendly manner.